Moody’s assigns B2 to Mobilux 2

Moody's Investors Service said it assigned a B2 corporate family rating and B2-PD probability of default rating to Mobilux 2 SAS (BUT), a holding company owning 100% of French furniture retailer BUT SAS.

The outlook on all ratings is stable.

Concurrently, the agency withdrew Decomeubles Partners SAS' B2 corporate family rating and B2-PD probability of default rating. It also withdrew the B3 instrument rating assigned to BUT SAS' €246 million worth of senior secured notes due 2019 following their redemption on Nov. 17.

Moody’s said the action follows the completion of BUT's acquisition by private equity firm Clayton, Dubilier & Rice and WM Holding. The rating action also reflects the successful bond refinancing announced on Oct. 24.

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