First Quality Finance Company, Inc. -- Moody's assigns first time Ba3 CFR to First Quality and B2 to proposed senior unsecured notes

New York, May 03, 2013 -- Moody's Investors Service today assigned a first time Ba3 Corporate Family Rating (CFR) and Ba3-PD Probability of Default Rating to First Quality Finance Company, Inc. (Issuer). Concurrently, Moody's assigned a B2 rating to the company's proposed $500 million senior unsecured note offering. Proceeds from the notes are expected to be used to refinance the company's existing secured bank facilities and repay other indebtedness along with proceeds from a new $1.05 billion revolving credit facility expiring 2018 (unrated) and a $550 million term loan facility due 2018 (unrated). The rating outlook is stable.

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