Moody’s gives Summit notes Ba1

Moody’s Investors Service said it gave a Ba1 rating to Summit Lux Finance Sarl’s planned €300 million of guaranteed senior unsecured notes.

Concurrently, the agency affirmed the Ba1 ratings on Summit Properties Ltd. and its €300 million of senior unsecured notes maturing in 2025.

Summit will use the proceeds to repay around €150 million of debt with the remainder earmarked to strengthen its liquidity buffer for additional investments or other corporate purposes.

The outlook for both entities is stable.

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