Moody's rates Infinis notes Ba3

Moody's Investors Service said it assigned a provisional Ba3 senior unsecured rating with a stable outlook to the £350 million of senior notes due 2019 to be issued by Infinis plc.

Concurrently, Moody's placed the B1 corporate family rating and Ba3-PD probability of default rating of the parent company, Infinis Holdings, on review for upgrade.

"Our assignment of the (P)Ba3 rating to the notes follows Infinis's proposed refinancing announcement and reflects progress made by the group towards further diversifying its renewable energy technology interests," Moody's assistant vice president and lead analyst for Infinis Scott Phillips said in a news release.

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