Moody's affirms Europcar notes

Moody's Investors Services said it affirmed Europcar Groupe SA's B1 (LGD4, 68%) €430 million senior subordinated secured floating-rate notes and B2 (LGD6, 93%) €375 million senior subordinated unsecured notes, which have been increased from an original face value of €300 million and €250 million, respectively.

The corporate credit rating remains Ba3, and the outlook is negative.

The proceeds of the note add-ons will help finance the acquisition of the European businesses of Vanguard.

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