Moody's gives Stena loan, notes Ba2

Moody's Investors Service said it assigned a provisional Ba2 senior secured rating to the proposed $550 million secured notes and $550 million secured term loan to be issued by Stena International Sarl and to be guaranteed by Stena AB.

The outlook is stable.

The provisional Ba2 rating (LGD2, 29%) assigned to both the proposed notes and the term loan, one notch above the Ba3corporate family rating, reflects the fact that the new debt instruments, will be guaranteed by Stena AB and by each of the subsidiary owning the collateral vessels, Moody's said.

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