Moody’s rates Minimax Viking loans Ba3

Moody’s Investors Service said it rated Minimax Viking GmbH’s planned senior secured €488 million term loan due 2028 and €40 million senior secured revolver due 2027 Ba3. The agency also assigned a Ba3 rating to the proposed $541.6 million senior secured term loan due 2028 to be borrowed by MX Holdings US, Inc.

Moody’s concurrently affirmed Minimax Viking’s Ba3 long-term corporate family rating and Ba3-PD probability of default rating.

The new loans are part of an amend-and-extend transaction. Minimax Viking’s current €344 million term loan is due in July 2025 and its €40 million revolver matures in July 2024. The new MX loan will replace the outstanding $600 million face value loan due July 2025.

The outlook for both issuers is stable.

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