Moody's upgrades Tereos

Moody's Investors Service said it upgraded the corporate family rating and probability of default rating of Tereos to Ba2 from Ba3.

Concurrently, Moody's upgraded the €500 million 2014 bond issued at Tereos Europe to Ba3 from B1.

The outlook was changed to stable from positive.

"Today's action reflects the continued improvement in Tereos' operating performance, which is notably benefitting from supportive industry conditions in the sugar beet segment. This is leading to credit metrics that we expect to remain solidly positioned in the Ba2 rating category in the medium term," Moody's vice president, senior analyst and lead analyst for Tereos Andreas Rands said in a news release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.