Moody’s assigns Caa2 to Swissport notes

Moody's Investors Service said it assigned a Caa2 rating to Swissport Financial Sarl’s new €280 million of senior unsecured notes.

The agency also assigned a B2 rating to Swissport’s proposed term loan and planned senior secured notes. The total for the loan and notes is €1.23 billion.

Moody’s revised the outlook to stable from negative.

“The change in outlook to stable reflects significant improvement in Swissport's earnings and free cash flow generation over the last year as well as stronger liquidity following the proposed refinancing,” said Egor Nikishin, Moody's lead analyst for Swissport.

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