Moody’s upgrades Spie

Moody's Investors Service said it upgraded the ratings of Spie BondCo 3 SCA, including the corporate family rating to B1 from B2, probability of default rating to B1-PD from B2-PD, the rating of Spie's senior notes due 2019 to B3 from Caa1 and the rating of debt facilities borrowed by Clayax Acquisition 4 SAS to B1 from B2.

The outlooks are stable.

Moody’s said the upgrade reflects the company's strong operating performance in line with expectations. Spie achieved 11% year-on year sales growth in 2013, driven primarily by acquisitions.

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