Moody’s adds /LD to SoLocal PDR

Moody's Investors Service said it assigned a limited default (LD) indicator to SoLocal Group SA's Ca-PD probability of default rating.

Concurrently, the agency affirmed SoLocal's Ca corporate family rating and the Ca rating on PagesJaunes Finance & Co. SCA's senior secured notes.

The outlook remains negative.

Moody’s said the change in the probability of default rating to Ca-PD/LD follows a payment default on the coupon of the €350 million senior secured notes. The coupon payment was due on Dec. 1 and this action was taken at the end of the 30-day grace period, in line with the agency’s methodology.

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