Moody’s ups Merlin, loans to Ba2

Moody's Investors Service said it upgraded Merlin Entertainments plc’s corporate family rating to Ba2 from Ba3, probability of default rating to Ba3-PD from B1-PD and secured credit facilities to Ba2 from Ba3.

The outlook is stable.

"The upgrade reflects the combination of Merlin's continued strong performance in 2014 and somewhat improved credit metrics since its IPO in October 2013, and our expectation that these will strengthen further with ongoing earnings growth," Richard Morawetz, Moody's vice president, senior credit officer and lead analyst for Merlin, said in a news release.

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