Moody's rates Spie notes Caa1

Moody's Investors Service said it assigned a provisional Caa1 rating to Spie BondCo 3 SCA's €375 million notes due 2019.

The outlook on Spie's B2 corporate family rating and all other ratings remains stable.

Moody's said the provisional Caa1 rating assigned to the proposed notes reflects their subordinated nature in Spie's capital structure behind the B2-rated senior secured bank debt.

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