27.09.2016 08:07:00
|
Emeco Pty Limited -- Moody's: Emeco's proposed transaction will constitute a distressed exchange, if implemented
Sydney, September 27, 2016 -- Moody's Investors Service says that Emeco Holdings Limited's (Caa1 negative) current proposed transaction is credit negative and will -- if implemented -- constitute a distressed exchange, which is a default under Moody's definition, of the senior secured notes rated Caa1, issued by its wholly owned subsidiary Emeco Pty Limited.