The Chefs' Warehouse, Inc. -- Moody's assigns B2 rating to Chefs' Warehouse proposed amended term loan

Moody's Investors Service (Moody's) assigned a B2 rating to The Chefs' Warehouse, Inc.'s (Chefs) proposed amended first lien term loan due 2025. Moody's views the transaction as credit positive because it extends the company's debt maturity profile and modestly lowers debt levels. Moody's expects the company to have adequate liquidity over the next 12-18 months, with a $227 million pro-forma cash balance and $80 million borrowings under the $150 million asset-based revolving credit facility.