Moody’s gives International Design notes B2

Moody’s Investors Service said it gave International Design Group SpA’s planned €470 million guaranteed senior secured floating rate notes due 2026 a B2 rating.

The agency concurrently affirmed the company’s B2 corporate family rating, its B2-PD probability of default rating and the B2 rating on its €400 million guaranteed senior secured fixed-rate notes due 2025.

Proceeds will be used to refinance debt and acquire YDesign. Moody's will withdraw the B2 rating on the €320 million of senior secured floating rate notes due 2025 once they are fully repaid.

The outlook remains negative.

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