Moody's assigns B3 to Cirsa notes

Moody's Investors Service said it assigned a B3 rating to the planned €350 million of guaranteed senior secured notes due 2027 to be issued by Cirsa Finance International Sarl, a subsidiary of Cirsa Enterprises, SLU.

Concurrently, Moody's also affirmed Cirsa's B3 corporate family rating, B3-PD probability of default rating, and B3 instrument ratings on the outstanding €563 million (original nominal value of €663 million) of guaranteed senior secured notes due 2023, the €90 million of guaranteed senior secured notes due 2025, the €490 million of guaranteed senior secured floating-rate notes due 2025 and the €615 million of guaranteed senior secured notes due 2027 issued by Cirsa Finance.

Cirsa will use the proceeds to repay €340 million of the €563 million of notes due December 2023.

The outlook remains positive.

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