New York, March 31, 2014 -- Moody's Investors Service assigned Ba2 ratings to Res-Care, Inc.'s ("Res-Care") proposed $250 million senior secured revolving credit facility, $200 million senior secured term loan A, and $200 million senior secured delayed-draw term loan A. The credit facilities will be used to refinance the company's existing term loan A and revolving credit facility, as well as fund a $130 million dividend to Res-Care shareholders. The delayed-draw term loan is anticipated to be drawn within 12-months of closing to refinance the existing 10.75% senior unsecured notes. Concurrently, Moody's changed the Probability of Default Rating to B1-PD from Ba3-PD, and affirmed the company's Ba3 Corporate Family Rating, B1 rating on the company's existing $200 million senior unsecured notes, and Speculative Grade Liquidity (SGL) rating of SGL-2. The ratings outlook is stable.

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