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24.04.2015 23:01:00
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Ahern Rentals Inc. -- Moody's assigns B3 rating to Ahern Rentals' proposed second lien notes; affirms B2 CFR
New York, April 24, 2015 -- Moody's Investors Service assigned a B3 rating to Ahern Rentals Inc. ("Ahern")'s proposed senior secured second lien notes due 2023. Concurrently, Ahern's Corporate Family Rating ("CFR") and Probability of Default ("PDR") Ratings were affirmed at B2 and B2-PD. Although the proposed transaction moderately increases total funded debt, it is expected to extend Ahern's debt maturity profile and lower interest expense thereby enhancing the overall credit profile of the company. The ratings outlook is stable.
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