Moody's rates Univeg notes B3

Moody's Investors Service said it assigned a B2 corporate family rating and B2-PD probability of default rating to FieldLink NV, the parent of the Univeg Group.

Concurrently, the agency assigned a provisional B3 rating to the €265 million senior secured notes due 2020 issued by Univeg Holding BV.

The outlook is stable.

The proceeds from the notes, together with drawings under a €90 million revolving credit facility, will be used to refinance the existing indebtedness. Univeg was acquired by Hein Deprez (the founder of the Univeg Group and an existing shareholder) together with management and a group of investors from CVC Capital Partners in July 2013.

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