Moody’s rates Hella notes Baa1

Moody's Investors Service said it rated Hella GmbH & Co. KGaA’s new €500 million senior notes due 2027 Baa1.

The rating is in line with Hella’s long-term issuer and senior unsecured Baa1 ratings, Moody’s said.

Proceeds will be used to refinance €500 million of notes due in January 2020.

The outlook is negative reflecting the overall European automotive parts suppliers’ sector, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.