Moody’s assigns SIG notes, facilities Ba2

Moody’s Investors Service said it assigned Ba2 senior secured ratings to SIG Combibloc Group AG’s proposed €550 million term loan borrowed at subsidiaries SIG Combibloc PurchaseCo Sarl and SIG Combibloc US Acquisition II Inc., and the proposed €300 million revolving bank credit facility borrowed at SIG Combibloc PurchaseCo and SIG Euro Holding GmbH.

Moody’s also assigned Ba2 senior unsecured ratings to SIG’s proposed €500 million of notes due 2023 and proposed €500 million of notes due 2025.

The Ba2 ratings on the senior secured term loan A and the senior secured revolving bank credit facility, borrowed at subsidiaries SIG Combibloc PurchaseCo, SIG Combibloc US Acquisition Inc., and SIG Combibloc US Acquisition II, and on the senior secured term loan B borrowed at SIG Combibloc PurchaseCo, are unaffected. Moody’s said it sees withdrawing these ratings once the respective debt instruments are repaid as part of the proposed refinancing.

The outlook remains stable.

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