Moody's puts Coherent on review for downgrade

Moody's Investors Service said it placed the credit ratings of Coherent Holding GmbH on review for downgrade, including the Ba1 corporate family rating and the Ba1 senior secured credit facilities rating.

This rating action follows Lumentum Holdings Inc.'s and Coherent's announcement that they have entered into an agreement under which Lumentum will acquire Coherent in a cash and stock transaction valued at $5.7 billion. The transaction is expected to close in the second half of calendar year 2021.

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