Univar Inc. -- Moody's upgrades Univar to B2 following equity IPO

New York, June 18, 2015 -- Moody's Investors Service has upgraded Univar Inc.'s (Univar) Corporate Family Rating (CFR) and term loan ratings to B2 from B3. The upgrade reflects the successful completion of the company's initial public offering and a concurrent private placement of equity that have generated new equity commitments expected to yield roughly $790 million in gross equity proceeds to the company. The proceeds of the offerings are intended to be used to retire the $600 million 2017 subordinated notes and $50 million 2018 subordinated notes, to pay the equity sponsors $26 million in a consulting termination fee, increase cash balances and to pay related fees and expenses.

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