Moody’s Investors Service withdrew all New Era Cap, LLC debt ratings following the repayment of its outstanding rated debt in conjunction with the closing of a recent refinancing transaction.
Moody’s wrote in a release, “New Era has fully repaid its outstanding senior secured first lien term loan using proceeds from a new unrated credit facility. All of New Era’s ratings have been withdrawn since its rated debt is no longer outstanding.”
The debt ratings affected include New Era’s B1 corporate family rating (CFR), B1-PD probability of default rating (PDR), and B2 rating on its $300 million senior secured first lien term loan that had been due 2028.
The outlook was changed to rating withdrawn from stable.
