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Moody's: IDH Finance notes B2, Caa1
Moody's Investors Service said it assigned definitive B2 ratings with a loss given default assessment of LGD4-51% to the £200 million senior secured-fixed rate notes due 2018 and the £125 million senior secured floating-rate notes due 2018, as well as a definitive Caa1/LGD 6-92% rating to the £75 million second-lien notes due 2019, all of which have been issued by IDH Finance plc, a subsidiary of Turnstone Midco 2 Ltd.
Moody's assigned a B2 corporate family rating and a B2-PD probability of default rating to Turnstone Midco 2 Ltd. on May 20, which remains unchanged.
The outlooks on all ratings are stable.
Moody's said its definitive ratings on these debt obligations are in line with the provisional ratings assigned on May 20.
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