Moody’s reviews Lock Lower

Moody's Investors Service said it is continuing the review on the B2 corporate family rating of Lock Lower Holding AS, the parent company of Lindorff AB, and changed the direction to uncertain, previously on review for downgrade.

The agency also put the B2 rating assigned to the five senior secured notes of a combined amount of €1.5 billion and the B1 rating assigned to the €430 million revolving credit facility issued by Lock AS, a subsidiary of Lock Lower Holdings, on review with direction uncertain.

Finally, Moody's placed uncertain the Caa1 rating assigned to the two senior notes of a combined amount of €447 million issued by Lock Lower Holdings on review with direction.

Moody’s said the action was prompted by Lindorff's announcement on Sept. 12 that it decided to start a process to assess options to raise equity in the public market, which may lead to a potential initial public offering.

© 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.