New York, March 21, 2014 -- Moody's Investors Service said PQ Corporation's (B3 Stable) recently proposed re-pricing to its First Lien Term Loan will be modestly credit positive and would reduce interest expense by about $6 million on a pro-forma basis. The terms of the amendment include a reduction in pricing (from 350 to 300 bps), a reset of the pre-payment premium for six months after the closing, approval to deliver financial information from a direct or indirect parent of PQ, and mandatory prepayments of the Term Loan from 40% of the net proceeds from an initial public offering.

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