Spin Holdco, Inc. -- Moody's: Spin Holdco's proposed refinancing has no impact on ratings

New York, February 20, 2014 -- Spin Holdco, Inc. ("Spin") proposed refinancing transaction that will reduce the company's second lien term loan by $115 million and increase the first lien term loan by $125 million has no impact on existing ratings, including the company's B3 Corporate Family Rating, B3-PD Probability of Default Rating and B2 rating on the first lien credit facilities. Concurrently, the company is anticipated to reprice its second lien term loan. As a result of this transaction, the total interest expense is expected to decline by $13 million.

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