Moody’s changes Merlin view to negative

Moody’s Investors Service said it changed the outlook to negative from under review and confirmed the corporate family rating of B2 and probability of default rating of B2-PD of Motion Midco Ltd. (Merlin).

Concurrently, Moody’s confirmed the B1 rating of the senior secured bonds issued by Merlin Entertainments Ltd. as well as the B1 rating of the term loans, senior secured notes and the revolving credit facility issued by Motion Finco Sarl.

Moody’s also confirmed the Caa1 rating on the senior unsecured notes due 2027 issued by Motion Bondco DAC.

“The negative outlook reflects the continued uncertain prospects for the leisure industry, with risks of extended disruption to travel causing further strain on the company’s key credit ratios,” Moody’s said in a press release.

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