Moody’s Investors Service assigned a B3 rating to the proposed senior secured credit facilities of PrimeLine Utility Services and affirmed PrimeLine’s B3 Corporate Family and Caa1-PD Probability of Default ratings. The rating outlook is stable.

The new senior secured credit facilities will include a $60 million senior secured revolving credit facility and a $270 million senior secured first lien term loan B. The proceeds will be used to refinance the current revolving credit facility which expires in October 2018 and first lien term loan which expires in October 2019, as well as to pay associated transaction fees and expenses.