Moody's rates EN Germany notes B3

Moody's Investors Service said it assigned a B3 (LGD 3, 46%) rating to the €200 million 10¾% senior notes due 2015 issued by EN Germany Holdings BV, Netherlands and guaranteed on a senior secured basis by Enterprise Networks Holdings BV, as well as certain key intermediate holding companies and operating subsidiaries of the group.

The final terms of the notes are in line with the drafts reviewed for the provisional B3 rating.

Moody's said it considered the quality of information available on the issuer or obligation satisfactory for the purposes of assigning a credit rating.

However, the credit rating action was based on limited historical data, the agency added.

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