Moody’s gives Optimus add-on B3

Moody's Investors Service said it gave a B3 rating to the €115 million fungible term loan add-on of Optimus BidCo SA (Stow).

The agency also affirmed the issuer’s B3 long-term corporate family rating, the B3-PD probability of default rating and the B3 instrument ratings of the company's €99 million senior secured first-lien revolving credit facility and its €490 million senior secured first-lien term loan B.

“Moody's expects to withdraw the Caa2 rating on the €85 million senior secured second-lien term loan (2L TLB) post its repayment from the proceeds of the fungible 1L TLB add-on,” the agency said in a press release. Optimus also plans to use the new loan to repay €30 million of short-term debt, which may include revolver draws.

The outlook remains stable.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.