Pro Mach Group, Inc. -- Moody's says that Pro Mach's proposed term loan add-on is credit negative; ratings including B3 CFR not affected

New York, October 07, 2016 -- Moody's Investors Service ("Moody's") says that Pro Mach Group, Inc. ("Pro Mach") proposed $110 million add-on to its $410 million first lien term loan due 2021 and $50 million delayed draw term loan due 2021 is credit negative because it increases debt and leverage and there is uncertainty regarding the use of proceeds. The transaction, nevertheless, does not impact the company's ratings including its B3 Corporate Family Rating ("CFR"), B3-PD Probability of Default Rating ("PDR"), B2 ratings on the first lien credit facilities, or stable rating outlook. Ratings are not impacted because, although debt-to-EBITDA leverage is high, it remains within the range expected for the B3 rating category and liquidity is good.

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