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Moody's rates Hero notes B2
Moody's Investors Service said it assigned a definitive B2 corporate family rating to Hero Acquisitions Ltd., a B1-PD probability of default rating to the company and a definitive B2 rating to the £200 million senior secured notes due 2019 issued by HSS Financing plc. The outlook is stable.
The agency said the probability of default rating reflects its assumption of a 35% family recovery rate given the lack of any financial maintenance covenants in the structure.
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