Moody’s assigns Sappi notes Ba2

Moody’s Investors Service said it assigned a Ba2 rating to the proposed issuance of €250 million of senior unsecured notes due in 2025, by Sappi Papier Holding GmbH, a guaranteed subsidiary of Sappi Ltd.

The Ba2 rating assigned to the Sappi Papier’s new senior notes is in line with the company’s Ba2 CFR, given that this layer of debt represents the majority of its parent’s capital structure,” the agency said.

Proceeds will be used for general corporate purposes and to improve liquidity.

Sappi’s remain unaffected, Moody’s said.

The outlook is stable.

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