Moody's8 months ago
Moody's Investors Service ("Moody's") assigned a B1 Corporate Family Rating (CFR) and a B1-PD Probability of Default Rating (PDR) to Ta Chen International, Inc. (Ta Chen). At the same time, Moody's assigned a B3 rating to the proposed $250 million senior secured term loan B. The proceeds from the term loan along with borrowings on its asset based lending facility will be used to fund the purchase of a common alloy aluminum rolling mill for a price of $300 million. This is the first time Moody's has rated Ta Chen International, Inc.