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Moody's rates Delachaux loans B2
Moody's said it assigned a B2 corporate family rating and a B2-PD probability of default rating to Delachaux Group SA.
Concurrently, Moody's assigned a B2 rating to the group's senior secured term loans, borrowed by Delachaux: the €386 million TL-B1, the €187 equivalent U.S. dollar TL-B2, the €65 million equivalent pound sterling-denominated TL-B3 (outstanding amounts) and the €75 million senior secured revolving credit facility.
The outlook is stable.
This is the first time Moody's has assigned ratings to Delachaux.
“Delachaux's B2 CFR reflects the group's dominant niche market positions in its core rail activities and in conductic and chromium businesses with a relatively stable and solid earnings profile,” Moody’s said in a news release.
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