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Moody’s stabilizes Motor Fuel view
Moody’s Investors Service said it changed its outlook for CD&R Firefly 4 Ltd. (Motor Fuel Group) to stable from negative and affirmed its B2 ratings. The agency also affirmed the ratings on the debt issued by CD&R Firefly Bidco Ltd. and Motor Fuel Ltd.
“The stable outlook reflects Moody's expectations of leverage remaining around 6x over the next 12-18 months as well as the absence of re-leveraging transactions such as dividend recapitalizations or even risk associated with a potential transfer of ownership,” the agency said in a press release.
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