Moody’s ups Douglas secured notes, loans

Moody’s Investors Service said it upgraded to B2 from B3 the rating of new guaranteed senior secured instruments, including €1.305 billion guaranteed senior secured notes due 2026, a term-loan B due 2026 and a €170 million guaranteed senior secured revolving credit facility issued by Douglas GmbH and several subsidiaries.

Concurrently, Moody’s affirmed the Caa2 rating on the €475 million guaranteed senior secured PIK notes to be issued by Kirk Beauty SUN GmbH.

Moody’s said the action follows some changes in the final debt structure compared to the initial proposal.

The outlook is stable.

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