Moody’s might lift Altran

Moody's Investors Service said it placed the ratings of Altran Technologies under review for upgrade, namely the Ba2 corporate family rating, the Ba2-PD probability of default rating, and the Ba2 ratings on the senior secured credit facilities including the €250 million revolver and the €1.38 billion term loan both issued by Altran Technologies, and the $300 million term loan issued by subsidiary Octavia Holdco Inc.

The outlook was changed to rating under review from negative.

The agency said the action follows the announcement on June 24 that Altran and Capgemini have entered into exclusive discussions whereby Capgemini is to acquire Altran through a friendly takeover.

Moody’s said that, should the acquisition take place, Altran will become part of an enterprise with a likely stronger overall credit profile than if it remains a standalone entity.

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