S&P rates Scout24 CFR, loans B1

Moody's Investors Service said it assigned a B1 corporate family rating and a B2-PD probability of default rating to Scout24 AG, the parent company of Scout24 Holding GmbH.

Concurrently the agency assigned a B1 rating to each of the company’s €595 million senior secured term loan B, €400 million senior secured term loan C and the €50 million senior secured revolving credit facility.

The outlook on all ratings is stable.

Moody’s said the B1 corporate family rating takes into account: (a) Scout24's modest scale; (b) the high group leverage; and (c) future revenue and EBITDA growth largely dependent on IS24's ability to continue to increase prices and its change to a membership-based pricing.

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