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Moody's rates Hydra Dutch notes B2
Moody's Investors Service said it assigned a B2 corporate family rating and a B1-PD probability of default rating to Hydra Dutch Holdings 2 BV, which is the parent holding company of Eden Springs.
Concurrently, the agency assigned a provisional B2 rating to €210 million senior secured floating-rate notes due 2019.
The outlook is stable.
About €50 million of the proceeds from the proposed transaction will be used to pay a dividend to shareholders. The remainder will be used to refinance existing debt facilities and pay fees and expenses relating to the transaction.
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