Moody's could lift KION

Moody's Investors Service said it placed the B3 corporate family rating and Caa1-PD probability of default rating of KION Group GmbH under review for upgrade.

Concurrently, Moody's placed the B2 rating of all senior secured notes issued by KION Finance SA under review for upgrade.

The review was triggered by the announcement of KION Group GmbH to seek a public listing.

Because the agency considers KION's business profile to have characteristics, which could position the rating higher in the rating scale and the main factor constraining the rating in the past was the group's high leverage, a multi-notch upgrade of KION's ratings appears possible should the envisaged IPO result in a significant reduction of financial leverage, Moody's said.

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