Moody’s might lift Parex

Moody's Investors Service said it placed the ratings of Financiere Dry Mix Solutions SAS (Parex), including the B2 corporate family rating, and Dry Mix Solutions Investissements SAS under review for upgrade.

The agency said the action follows the announcement that Sika AG made a binding offer to acquire Parex from funds advised by CVC Capital Partners.

“The rating review will focus on the intention by Sika to repay existing debt issued by Dry Mix Solutions Investissements SAS, a wholly owned financing subsidiary of Parex, and takes into consideration the potentially stronger credit profile of Sika,” the agency said in a news release.

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