Pilot Travel Centre’s $1.3bn term loan rated Ba2 by Moody’s

Moody’s assigned a Ba2 rating to Pilot Travel Center LLC’s proposed $1.3bn, 7-year, senior secured term loan B.

Proceeds from the proposed term loan issuance, along with a $100m draw under its revolver would be utilised towards refinancing its existing $1.4bn term loan B due 2021.

According to Moody’s, Pilot’s Ba2 CFR reflected the company’s good debt protection metrics, meaningful scale, geographic reach, diverse profit stream including high margin non-fuel merchandise and good liquidity. 

Source: Moody’s