Moody's: Stena view stable

Moody's Investors Service said it changed the outlook on Stena AB's Ba3 corporate family rating to stable from negative, after successfully refinancing its loan facility due 2013.

At the same time, the rating agency affirmed its Ba3 corporate family rating and B2 senior unsecured rating.

"The change of outlook follows the company's announcement that it has completed the refinancing of its senior secured bank loan facility due in February 2013 as well as the long term chartering of its drilling ships," Moody's vice president, senior credit officer and lead analyst for Stena Marco Vetulli said in a news release.

"This new credit facility, which has a final maturity in March 2018 and benefits from a similar security package as the previous loan, significantly strengthens Stena's liquidity position," Vetulli added in the release.

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