Moody's rates Remy bond Ba2

Moody's Investors Service said it assigned a Ba2 rating to Remy Cointreau SA's new €200 million senior unsecured bond due 2016. The company's Ba2 corporate family rating remains at Ba2.

The outlook is stable.

The proceeds will be used to refinance €192.4 million in outstanding bonds due to mature Jan. 15, 2012. The rating reflects Remy's resilient performance in 2009 and 2010 despite a challenging economic environment, Moody's said.

The agency said it believes that Remy is well-positioned to enhance its operational performance when economic conditions stabilize in its main markets in the coming quarters, the agency said.

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