Moody’s rates Amer Sports, loans B1

Moody's Investors Service said it assigned a B1 corporate family rating and a B1-PD probability of default rating to Mascot MidCo 1 Oy, a holding company of Amer Sports.

The agency also assigned B1 ratings to the proposed €1.7 billion senior secured term loan B due in 2026 and the €315 million worth of senior secured revolving credit facility due in 2025 to be borrowed by Mascot BidCo Oy.

The outlook is stable.

“Amer is looking to issue the proposed bank credit facilities to finance its acquisition by a consortium of investors, led by Chinese sportswear company ANTA Sports Products Ltd.. (ANTA Sports), and to repay existing indebtedness,” Giuliana Cirrincione, Moody's lead analyst for Amer, said in a news release.

The agency said the corporate family rating reflects the company’s leading market positions, broad diversification across sports segments and geographies, favorable demand dynamics in the outdoor and sports market, and its good liquidity.

© 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.