Moody’s gives Cidron Gloria loans B2

Moody's Investors Service said it assigned a B2 rating to the new proposed €360 million seven-year term loan and the new proposed €80 million 6.5-year revolving credit facility to be issued by GHD Verwaltung GesundHeits GmbH Deutschland, a subsidiary of Cidron Gloria Holding GmbH.

The proceeds will be used to fully refinance the existing capital structure.

Moody's affirmed the B2 corporate family rating and the B2-PD probability of default rating at the level of Cidron Gloria.

The outlook remains stable.

“The refinancing transaction has a very limited impact on leverage (+0.1x leverage to finance transaction fees),” the agency said in a news release.

“The refinancing transaction extends the debt maturities, supporting liquidity.”

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