Moody's turns Garfunkelux view to positive

Moody's Investors Service said it changed the outlook to positive from stable and affirmed Garfunkelux Holdco 2 SA's B2 corporate family rating and Garfunkelux Holdco 3 SA's B2 senior secured debt ratings.

Moody's said it expects continued improvement in the Garfunkelux's credit profile, which has strengthened over the past year through favorable changes in the capital structure, stronger profitability, driven by recovery of collections, and improvements in cost efficiency.

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