Moody's rates Iglo Foods loans B1

Moody's Investors Service said it assigned a B1 corporate family rating and B2 probability of default rating to Iglo Foods Finco Ltd., the ultimate holding company of the subsidiary guarantors to the group's senior credit facilities.

Moody's also assigned a B1 rating to Iglo Foods' outstanding senior secured credit facilities.

Iglo Food's senior secured credit facilities are expected to roughly total an equivalent €1.8 billion in senior secured loans after the proposed issuance of an additional equivalent €250 million senior secured loan facility due 2018.

The outlook is stable.

Proceeds from the transaction will be used as a shareholder distribution through the partial repayment of outstanding shareholder loans.

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