Moody’s applies B1 to Iglo Foods loan

Moody's Investors Service said it affirmed the B1 corporate family rating and the B1-PD probability of default rating of Iglo Foods Finco Ltd. following the company's decision to acquire Findus' continental European business.

The agency also assigned a B1 rating to Iglo Foods Midco Ltd.’s new €285 million senior secured term loan, which is used to partially fund the transaction.

Concurrently, Moody's affirmed the B1 ratings on Iglo Foods Midco’s senior secured term loans and revolving credit facility, as well as the B1 rating on Iglo Foods BondCo plc’s floating-rate notes.

The outlook on all ratings remains stable.

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