S&P assigns Maxeda notes B-, loan B+

S&P said it assigned a B- rating to Maxeda DIY Group BV’s €420 million of senior secured notes and a B+ rating to its €65 million super senior secured revolving credit facility. The notes and revolver mature in 2026.

Maxeda used the proceeds to refinance its debt. The agency upgraded its rating on Maxeda to B- from CCC+ and removed it from CreditWatch with positive implications. The outlook is positive.

At Maxeda’s request, S&P said it withdrew the company’s issuer rating and the B- and B+ issue ratings on the group’s €420 senior secured notes and €65 million super senior secured revolving credit facility, respectively.

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