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MILWAUKEE, Aug. 23, 2018 (GLOBE NEWSWIRE) -- Jason Industries, Inc. (NASDAQ:JASN, JASNW) (the "Company" or "Jason Industries") today announced that Moody's Investor Service ("Moody's") has upgraded the company's credit ratings, with the corporate family rating raised to B3 from Caa1, the senior secured first lien term loan raised to B2 from B3, and the senior secured second lien term loan raised to Caa2 from Caa3. The Company’s recently extended senior secured first lien revolving credit facilities were assigned a rating of B2. Moody’s ratings outlook remains stable.
Chad Paris, Senior Vice President and Chief Financial Officer, commented, “We are pleased that Moody’s has recognized the continued improvements in our operational and financial performance. Our focus and priorities will remain on reducing leverage, maintaining our strong liquidity, and improving the capital structure.”
The full text of Moody's announcement is available on their website at www.moodys.com.
To learn more about Jason Industries, please visit our website, investors.jasoninc.com.
About Jason Industries, Inc.
The Company is the parent company to a global family of manufacturing leaders within the finishing, components, seating and automotive acoustics markets, including Osborn (Richmond, Ind. and Burgwald, Germany), Metalex (Libertyville, Ill.), Milsco (Milwaukee, Wis.), and Janesville Acoustics (Southfield, Mich.). Headquartered in Milwaukee, Wis., Jason employs more than 4,300 people in 13 countries. To learn more, please visit www.jasoninc.com.