Moody’s rates Multi-Color facilities Ba2, notes B2

Moody's Investors Service said it confirmed the Ba3 corporate family rating and Ba3-PD probability of default rating of Multi-Color Corp.

The agency also assigned a Ba2 rating to Multi-Color's proposed senior secured credit facilities and B2 rating to its senior unsecured notes due 2025.

The outlook is stable. This concludes the review for downgrade initiated on July 18 when Multi-Color announced that it offered to acquire Constantia in a cash and stock transaction.

Proceeds will be used to acquire the Labels Division of Constantia Flexibles from Constantia Flexibles Holding GmbH (B1 stable) as well as pay fees and expenses associated with the transaction. The transaction is subject to the satisfaction of certain customary conditions and receipt of applicable regulatory approvals and is expected to close in the third fiscal quarter of 2018 (October 2017).

© 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.