Moody's assigns B3 to Kersia

Moody's Investors Service said it assigned a B3 corporate family rating and a B3-PD probability of default rating to Kersia International SAS.

Moody's also assigned a B3 rating to Kersia’s proposed €350 million of senior secured term loan B, including its delayed-draw term facility of €70 million and the proposed €100 million senior secured revolving credit facility. The outlook is positive.

“Kersia's B3 CFR is strongly positioned, also reflected by the positive outlook. The assigned rating reflects Kersia's proforma starting gross leverage of around 6.3x (Moody's adjusted) and the company's exposure to the stable market for biosecurity solutions used in the food value chain and expected solid Moody's adjusted FCF generation. The B3 rating also takes into account company's acquisitive track record,” Moody’s said in a press release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.