Moody’s rates Alstom notes Baa2

Moody's Investors Service said it assigned a Baa2 rating to Alstom's new dual-tranche of senior unsecured notes of €500 million and €700 million with six and nine year tenors, respectively.

Alstom’s Baa2 long-term issuer and Baa2 senior unsecured ratings are unchanged, the agency said. The outlook is negative.

The proceeds are expected to be used for general corporate purposes. “The additional debt will provide additional liquidity buffer to support the turnaround of Bombardier Transportation's (BT) operations. At the same time, it will delay the deleveraging pace, reflected in the negative rating outlook,” Moody’s said in a press release.

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