Moody’s confirms Springer Nature

Moody’s Investors Service said it confirmed the B2 corporate family rating and B2-PD probability of default ratings of Springer Nature One GmbH as well as the B2 ratings on the senior secured facilities at both Springer Nature Deutschland GmbH and Springer Nature Three GmbH.

The outlook is stable.

The agency said the confirmation concludes the review for upgrade that was initiated on April 27.

"We are confirming Springer Nature's B2 ratings with a stable outlook given that the company has postponed its IPO plans indefinitely due to market conditions," Christian Azzi, Moody's assistant vice president and lead analyst for Springer Nature, said in a news release. "Without the expected deleveraging from the IPO proceeds, Springer Nature's adjusted debt/EBITDA will remain at around 5.5x for 2018, broadly flat when compared with 2017.”

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