Moody’s changes Kleopatra view to stable

Moody's Investors Service said it changed the outlook for Kleopatra Holdings 2 SCA's and subsidiary Klockner Pentaplast of America, Inc. to stable from negative.

Concurrently, Moody's affirmed the B3 corporate family rating and the B3-PD probability of default rating of Kleopatra Holdings and the B3 instrument ratings for the guaranteed senior secured term loans and guaranteed senior secured revolving credit facility of Klockner Pentaplast.

“The ratings affirmation and outlook stabilization reflect the company's strong progress during 2020 in

improving its profitability, leverage and cash flow profile. Moody's continues to believe that there is some uncertainty as the company addresses its 2022 debt maturities in the first half of 2021, but the strong performance in 2020 coupled with potentially a more gradual further deleveraging progress in 2021 should support refinancing efforts in Moody's view,” the agency said in a press release.

© 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.