Wyle Services Corporation -- Moody's assigns B1 rating to Wyle's proposed bank facilities; affirms B2 CFR and changes outlook to positive

New York, May 06, 2014 -- Moody's Investors Service said that it affirmed Wyle Services Corporation ("Wyle")'s existing ratings including its B2 corporate family rating ("CFR") and B2-PD probability of default ratings. Concurrently, Moody's assigned B1 ratings to Wyle's proposed $35 million senior secured revolving credit facility and $250 million senior secured term loan B. The outlook was changed to positive from stable due to the company's announcement of a proposed debt refinancing transaction intended to meaningfully reduce debt, extend debt maturities and lower interest expense.

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