Moody's cuts Inaer notes

Moody's Investors Service said it lowered to B2 from B1 the corporate family rating of Avincis Mission Critical Services Group, SAU.

Concurrently, the agency said it downgraded Inaer Aviation Finance Ltd.'s senior secured notes to B3 and affirmed the €145 million revolving credit facility at Ba3.

The outlook on all these ratings remains negative.

"The downgrade of Avincis' CFR to B2 reflects Moody's concerns that the companies of the group subject to the restrictive covenants of the notes and the revolving credit facility will underperform our previous expectations, resulting in metrics that fall outside of our current guidance to maintain the B1 CFR," said Sebastien Cieniewski, S&P lead analyst for the group, in a news release.

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