Moody’s trims BME Group

Moody's Investors Service said it downgraded the corporate family rating of BME Group Holding BV to B3 from B2, and the probability of default rating has been downgraded to B3-PD from B2-PD.

Concurrently, the instrument rating on €700 million first-lien senior secured term loan B, €280 million first-lien senior secured term loan A and €195 million first-lien senior secured revolving credit facility was downgraded to B2 from B1 while the rating on €218 million second-lien senior secured term loan B was downgraded to Caa2 from Caa1.

The outlook is stable.

“The rapid and widening spread of the coronavirus outbreak, deteriorating global economic outlook, falling oil prices, and asset price declines are creating a severe and extensive credit shock across many sectors, regions and markets,” the agency said in a news release.

“The combined credit effects of these developments are unprecedented, and we view them as a social risk factor under our assessment of ESG considerations.”

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.