Moody's rates KION notes B2, positive outlook

Moody's Investors Service said it changed the outlook on KION's ratings to positive from stable.

Concurrently, Moody's assigned a B2 (LGD2-23%) rating to the €350 million senior secured notes due 2020 proposed by KION Finance SA.

The B3 corporate family rating and Caa1-PD probability of default rating of KION Group GmbH (together with its subsidiaries KION) as well as the B2 rating of KION Finance's €500 million existing senior secured notes due 2018 were affirmed.

Moody's said the outlook change reflects KION's positive operating performance since the initial rating assignment in 2011 despite a challenging trading environment and the successful reduction of overall debt.

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