Moody’s rates 3AB Optique, notes B3

Moody's Investors Service said it assigned a B3 rating to the €425 million of senior secured notes due 2023 issued by 3AB Optique Developpement, a holding company owner of Afflelou.

Concurrently, the agency also assigned a B3 corporate family rating and B3-PD probability of default rating to 3AB.

The outlook is stable.

Moody’s also withdrew Lion/Seneca France 2 SAS' B3 CFR, B3-PD and stable outlook.

The agency said the action primarily reflects Afflelou's successful bond refinancing which closed on Oct. 17.

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