CVG Receives B2 Credit Rating from Moody''s Investors Service NEW ALBANY, Ohio, June 29, 2021 (GLOBE NEWSWIRE) -- CVG (NASDAQ: CVGI ) ("CVG" or the "Company") today announced that Moody''s Investors Service ("Moody''s") assigned a B2 rating to its new senior secured first lien credit facilities with a stable outlook. Chris Bohnert, Chief Financial Officer, commented, "We are pleased with the new debt facility and the consistent ratings from Moody''s. The new debt facility consummated in April 2021 provides increased flexibility as we expand into new end markets with the goal of accelerating CVG''s growth while reducing the Company''s historical cyclicality. Our expansion into Warehouse Automation and Electric Vehicle markets opens CVG to secular growth markets and we continue to review opportunities for further market and product expansion as we strive to transform our business." Moody''s rating actions reflect the leverage neutral nature of CVG''s refinancing in April 2021 with debt at the same class. Proceeds from CVG''s new bank term loan and some cash repaid in full the first lien bank credit facility due in 2023.