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Moody's rates ASML notes Baa3
Moody's Investors Service said it assigned a provisional Baa3 rating to the proposed senior notes of ASML Holding NV. The Ba1 corporate family rating of ASML remains unchanged with stable outlook.
The provisional rating benefits from the €380 subordinated convertible bonds maturing 2010. The rating is further predicated upon the expectation that ASML will not materially increase senior debt or other financial liabilities, which could weaken the degree of structural seniority for the noteholders, the agency said.
In addition to the Baa3 notes rating, Moody's said it assigned a loss given default assessment of LGD3 with a 37% LGD rate.
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