Pianissimo Acquisition Corp. -- Moody's assigns B2 CFR to Pianissimo Acquisition Corp, acquirer of Steinway

New York, September 03, 2013 -- Moody's Investors Service assigned a B2 Corporate Family Rating and B2-PD Probability of Default Rating to Pianissimo Acquisition Corp. ("Pianissimo"), in connection with its proposed acquisition of Steinway Musical Instruments. A B1 rating was assigned to Pianissimo's proposed $190 million senior secured first lien term loan, and a Caa1 rating was assigned to the company's proposed $100 million second lien term loan. Proceeds from the proposed debt offerings along with a $225 million equity contribution by Paulson & Co. ("Paulson"), the equity sponsor and sole owner of Pianissimo, will be used to fund the acquisition. The rating outlook is stable.

Vollständigen Artikel bei Moodys lesen