Moody's rates Tereos notes Ba3

Moody's Investors Service said it assigned a definitive Ba3 rating with a loss given default assessment of 4 to the €500 million of senior unsecured notes due 2020 issued by Tereos Finance Groupe 1, a fully owned and guaranteed subsidiary of Tereos UCA, which is the holding company for Tereos.

All other ratings, including Tereos' Ba2 corporate family rating, the Ba2-PD probability of default rating and the Ba3 rating on Tereos Europe's existing €500 million of senior unsecured notes due April 2014, remain unchanged.

The outlook is stable.

The assignment of the definitive rating follows a review of final documentation.

The bonds are unconditionally and irrevocably guaranteed by Tereos UCA, such that the guarantee is provided by entities covering all of the company's EBITDA and assets.

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