Moody’s assigns Ba3 to Verallia

Moody’s Investors Service said it assigned a Ba3 corporate family rating to Verallia SA.

Moody’s also withdrew all ratings of Horizon Holdings I SAS, including its B1 CFR and B1-PD probability of default rating.

“Today’s action follows the successful completion of Verallia’s IPO and its corporate reorganization and reflects the group’s increased financial flexibility through access to public equity markets, its improved liquidity profile following the refinancing of its debt, as well as the track record of steady growth and improvement in credit metrics over the last 3 years,” said Donatella Maso, a Moody’s vice president, senior analyst and lead analyst for Verallia, in a press release.

Before the IPO, Horizon Holdings I SAS’ ratings were strongly positioned in the B1 rating category, the agency said.

The outlook is positive.

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