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Moody's rates Vougeot notes B2
Moody's Investors Services said it assigned a B2 corporate family rating to Vougeot Bidco plc.
Concurrently Moody's assigned a provisional B2 rating, with a loss given default assessment of LGD4-63%, to the group's proposed £550 million senior secured notes issuance and a B1-PD probability default rating.
The outlook is stable.
Moody's said the provisional B2 rating assigned to the senior secured notes, in line with the group's corporate family rating, reflects the fact that the notes constitute most of the group's financial debt and will be guaranteed by subsidiaries of the group representing at least 85% of the consolidated group's EBITDA.
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