Moody's rates Rexel notes Ba3

Moody's Investors Service said it assigned a Ba3 definitive rating to the €500 million worth of senior unsecured notes due 2018 issued by Rexel SA.

The rating on the notes reflects the fact that the notes rank pari passu with other senior unsecured notes and remaining bank facilities, Moody's said.

The notes are issued at the parent company and guaranteed by the same subsidiaries as other senior unsecured notes, the agency said.

The ratings also consider the company's business risk and competitive position compared with others within the industry and its capital structure and financial risk, Moody's said.

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