| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers L > Headlines for La Financiere Atalian SA > News item |
Moody’s cuts La Financiere Atalian
Moody's Investors Service said it downgraded to B3 from B2 the corporate family rating and to B3-PD from B2-PD the probability of default rating of La Financiere Atalian SAS.
Concurrently, Moody's downgraded to Caa1 from B3 the instrument rating on the €625 million senior unsecured notes due 2024, the €350 million senior unsecured notes due 2025, and the £225 million senior unsecured notes due 2025.
The outlook remains negative.
“Moody's downgraded Atalian's corporate family rating to B3 from B2 because of the continued weakening of the company's credit metrics in Q4 2018 and Q1 2019 due to declining EBITDA in France and other international markets excluding Servest,” Eric Kang, Moody's lead analyst for Atalian, said in a news release.
“The new strategic plan appears sensible but the timing of any visible improvement in operating performance and credit metrics remains unclear at this stage. Moreover, a continued deterioration in operating performance in the coming quarters could pressure the company's liquidity which is still adequate but has weakened in recent quarters.”
© 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.