Moody’s rates Oxea facilities B3

Moody's Investors Service said it affirmed the B3 corporate family rating of Oxea Sarl and the probability of default rating at B3-PD.

The agency also affirmed the B3 rating on the first-lien senior secured credit facility due 2020 borrowed by Oxea's subsidiary Oxea Finance & Cy SCA.

Moody's assigned a provisional B3 rating to the proposed new €900 million-equivalent senior secured term facilities to be borrowed by Oxea subsidiaries Oxea Holding Drei GmbH and Oxea Corp.

The outlook was changed to positive from negative.

The agency said the provisional rating follows the company's announcement of the refinancing of the existing first-lien senior secured credit facility.

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