Moody's may up IFCO

Moody's Investors Service said it placed the ratings of IFCO Systems NV on review for upgrade. This follows news of the proposed acquisition of IFCO by Brambles Ltd.

The review reflects a belief that should the acquisition be complete, IFCO will likely benefit from Brambles' scale, investment grade rating and customer base, Moody's said.

No announcement has been made as to the intentions regarding IFCO's €200 million secured notes due 2016, the agency added.

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