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Moody’s rates Sector Alarm loans B1
Moody's Investors Service said it assigned a B1 corporate family rating and B1-PD probability default rating to Sector Alarm Holding AS.
The agency also assigned a B1 rating to the seven-year €590 million term loan B and €100 million six-year revolving credit facility to be borrowed by Sector Alarm.
The outlook is stable.
Moody’s said the action is driven by Sector Alarm's leading market positions in its key countries of operations, relatively high financial leverage and limited scale partially offset by strong profitability and cash generation, and that the proceeds from the proposed debt facilities will be used to repay the existing debt and pay a distribution to shareholders.
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