Moody's views Compact Bidco negatively

Moody's Investors Service said it changed the outlook to negative from stable but affirmed Compact Bidco BV's corporate family rating at B2, its probability of default rating at B2-PD and the instrument rating on its €300 million guaranteed senior secured notes due 2026 at B3. Compact Bidco is the holding company Consolis Group SAS.

"The outlook change to negative reflects on the one side weaker than expected earnings development in 2021 as cost inflation started to bite and on the other side a further intensification of cost inflation paired with a weaker economic outlook and greater uncertainty across Europe as a result of a military conflict in Ukraine," said Vitali Morgovski, a Moody's associate vice president and lead analyst for Consolis, in a press release.

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