Moody’s rates Sensata Technologies UK notes Ba3

Moody's Investors Service said it assigned a Ba3 rating to Sensata Technologies UK Financing Co. plc’s new $750 million senior unsecured notes.

At the same time, the agency affirmed all debt ratings of Sensata Technologies BV, including the Ba2 corporate family rating, Ba2-PD probability of default rating, senior secured bank credit facility at Baa3, senior unsecured debt rating at Ba3 and speculative grade debt rating at SGL-3.

The outlook remains negative.

Moody’s said the assignment of a Ba3 rating to Sensata Technologies UK’s new $750 million senior unsecured notes reflects their unsecured nature and ranking in line with Sensata’s other unsecured notes.

The affirmation of Sensata's ratings reflects the agency’s belief that the additional leverage coming from the acquisition of most of Custom Sensors & Technologies' (B2 stable) sensor businesses will prove to be temporary in nature.

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