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Moody’s assigns Helios Towers notes B2
Moody’s Investors Service said it assigned a B2 rating to the proposed $425 million of guaranteed senior unsecured notes issued by HTA Group, Ltd., a wholly owned subsidiary of Helios Towers plc.
The proposed notes will be used to partly refinance $325 million of the $600 million bond and pay the $75 million drawn term loan. Helios has the option to increase the proposed offering to $700 million, which will enable the company to refinance all of the notes.
“The early refinancing of the notes and repayment of the term loan is credit positive because it strengthens HT’s liquidity by extending the debt maturity profile and provides HT with the financial capacity to fund its tower expansion strategy,” said Dion Bate, a Moody’s vice president and local market analyst, in a press release.
All other ratings for HT, including the corporate family rating of B2 and the rating on the $600 million of senior unsecured notes due March 2022 for HTA Group, are unchanged, Moody’s said.
The outlook is stable.
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