04.12.2013 21:50:00
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Sheridan Holdings, Inc. -- Moody's rates Sheridan's incremental first lien term loans B1; second lien term loan Caa1; B2 CFR affirmed
New York, December 04, 2013 -- Moody's Investors Service affirmed Sheridan Holdings, Inc.'s ("Sheridan") senior secured 1st lien term loan rating, including the proposed $85 million incremental term loan rating at B1. In addition, Moody's assigned a B1 rating to Sheridan's$70 million delayed draw senior secured 1st lien term loan due 2018 and a Caa1 rating to the proposed $365 million 2nd lien term loan due 2021. Sheridan's B2 Corporate Family Rating and B2-PD Probability of Default Rating were also affirmed. The outlook is stable.