Moody’s assigns Ba2 to Belron loan

Moody’s Investors Service said it assigned a Ba2 instrument rating to the new $870 million backed senior secured term loan due 2029 co-borrowed by Belron Luxembourg Sarl and Belron Finance US LLC. The new term loan will be issued as an incremental facility on the outstanding term loan documentation.

Moody’s concurrently affirmed Belron Group SA ratings, including the Ba2 ratings on its outstanding loans.

The proceeds, about €146 million of cash on the balance and €149 million of revolver draws, will be used to fund a €1.095 billion distribution to shareholders.

The outlook is stable.

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