23.07.2015 22:56:00
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Euramax International, Inc. -- Moody's affirms Caa2 Rating, the outlook remains Stable for Euramax International, Inc.
New York, July 23, 2015 -- Moody's Investors Service affirms Euramax International, Inc.'s Caa2 Corporate Family Rating ("CFR") following the company's announcement that it will issue 5-year $385 million senior secured notes due 2020. The proposed senior secured notes will be used to refinance Euramax's existing 9.5% senior secured notes due April 2016. Moody's assigns a Caa2 rating on the proposed notes. Moody's acknowledges positive momentum in Euramax's key credit metrics and expects continued recovery in the next 12-18 months. The outlook remains Stable.