Moody's: Verisure notes Caa1, B2

Moody's Investors Service said it assigned a provisional Caa1 rating to the €272 million of series B senior secured notes and a provisional B2 rating to the €100 million of series A senior secured floating-rate notes to be issued by Verisure Holding AB, the indirect parent of the Swedish Target.

Moody's said the provisional Caa1 rating for the series B notes reflects their contractual subordination to the super senior revolving credit facility, the series A senior secured fixed notes and series A senior secured floating-rate notes and series A loan.

The provisional B2 rating for the series A floating-rate notes is a result of them being pari passu with the existing series A senior secured notes and the series A loan, Moody's said.

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