Moody’s might raise Sundial

Moody's Investors Service said it placed Sundial Group Holdings LLC’s B3 corporate family rating, B3-PD probability of default rating and the B3 (LGD3) ratings on its $35 million first-lien senior secured revolving credit facility due 2022 and $280 million first-lien senior secured term loan due 2024 under review for upgrade.

The review follows the announcement that the company is being acquired by Unilever NV (A1 stable) for an undisclosed amount. The acquisition is expected to close in early 2018 subject to applicable regulatory approvals and customary closing conditions.

Moody's said it will withdraw the ratings for Sundial if its debt is repaid in connection with the acquisition. If for some reason the transaction does not close as anticipated, Sundial's ratings will be re-evaluated at that time.

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