Moody's assigns Victoria notes B1

Moody's Investors Service said it assigned a B1 instrument rating to Victoria plc’s planned €250 million backed senior secured notes due 2028. Victoria's B1 corporate family rating, B1-PD probability of default rating and B1 instrument ratings are unaffected by the new issuance.

Proceeds will be used to refinance the remaining balance of the outstanding notes due 2024 in a leverage-neutral transaction that will extend its debt maturity profile, Moody’s said.

The outlook is negative.

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