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Published on 2/2/2011 in the Prospect News High Yield Daily.

Moody's rates ONO notes Caa2

Moody's Investors Service said it assigned a definitive Caa2 rating to the €295 million of 11 1/8% senior notes due 2019 and $225 million of 10 7/8% senior notes due 2019 issued by ONO Finance II plc.

ONO's B3 corporate family rating and all other ratings remain unchanged, Moody's said.

The outlook is positive.

Moody's most recent rating action on ONO was on Jan. 21 when a provisional Caa2 rating was assigned to the proposed senior notes, the agency said.


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