Moody's ups Grohe view to stable

Moody's Investors Service said it changed the outlook on the ratings of Grohe Holding GmbH to stable from negative.

The company's B3 corporate family rating, B3 probability of default rating, Ba3 rating on the €150 million senior secured revolving facility, B3 rating on the €800 million senior secured floating rate notes and Caa1 rating on the €335 million senior unsecured notes remain unchanged, Moody's said.

The change in outlook reflects the removal of uncertainty regarding a fine by European Union Commission following the full payment of €55 million in September 2010, Moody's said.

The stable outlook is supported by Grohe's adequate liquidity position, the agency added.

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