Moody’s rates Marcel loan B2

Moody’s Investors Service said it assigned a B2 rating to Marcel Lux Debtco Sarl’s $300 million equivalent term loan.

The proceeds combined with cash on hand and equity of $197 million will be used to finance the acquisition of Rancher, which was announced in July.

The agency also affirmed the corporate family rating of Marcel Lux IV Sarl (SUSE) at B3 and affirmed the probability of default rating at B3-PD. Moody’s also affirmed the instrument ratings of the senior secured bank credit facilities at B2 of Marcel Bidco GmbH and Marcel BidCo LLC.

The outlook is stable.

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