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Moody’s rates Verisure notes B1
Moody’s Investors Service said it rated Verisure Midholding AB’s planned €350 million of backed senior secured notes B1.
The agency also affirmed Verisure’s B2 corporate family rating, B2-PD probability of default rating and Caa1 guaranteed senior unsecured ratings. Its B1 senior secured rating is unaffected by the offering.
“The planned transaction is largely leverage neutral with proceeds from the issuance used to primarily repay drawings under the €700 million backed senior secured revolving credit facility (RCF) that stood at €407.9 million as of Sept. 30, 2022,” the agency said in a press release.
The outlook is stable.
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