Moody's rates Nielsen notes B2

Moody's Investors Service said it assigned a B2 / LGD 5 rating to Nielsen Holdings NV's $800 million senior unsecured notes due 2020.

The outlook is positive.

Nielsen plans to use the net proceeds of the issuance to redeem the outstanding $308 million 11½% senior notes due 2016 and to prepay the $500 million 8.5% senior secured term loan due 2017.

The senior unsecured notes will be guaranteed by Nielsen Company BV, VNU Intermediate Holding BV, Nielsen Holding and Finance BV and, subject to certain exceptions, each of the guarantor's wholly owned subsidiaries, to the extent that each entity also provides a guarantee under the existing senior secured credit facilities.

Nielsen's Ba3 corporate family rating and all other ratings remain unchanged.

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