Moody's assigns Rexel bonds Ba3

Moody's Investors Service said it assigned a Ba3 rating to the new €600 million of sustainability-linked bonds due 2028 issued by Rexel SA.

Rexel’s Ba2 corporate family rating, Ba2-PD probability of default rating and Ba3 ratings on its existing senior unsecured notes are unchanged, Moody’s said.

The proceeds will be used to repay the €600 million of senior unsecured notes due 2026.

The outlook is stable.

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