Moody's assigns Ba3, B3 to Adient notes

Moody's Investors Service said it assigned a Ba3 rating to Adient Global Holdings Ltd.'s planned $350 million of senior secured notes and a B3 to the proposed $500 million of senior unsecured notes.

“All other ratings for Adient, including the B2 corporate family rating, the B2-PD probability of default rating, the B3 senior unsecured rating and the SGL-2 speculative grade liquidity rating are unaffected by this rating action. Additionally, the Ba3 senior secured rating at wholly owned subsidiary Adient US LLC is unchanged.

The proceeds and available cash are expected to be used to paydown Adient's 3½% senior unsecured euro notes and Adient US LLC's term loan.

The outlooks at both Adient and Adient US LLC remain stable.

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