Moody's: Trionista loans B1, notes B1 & Caa1

Moody's Investors Service said that following the successful placement of the notes and loans issued by Trionista TopCo GmbH, Trionista HoldCo GmbH, ista International GmbH and other operating subsidiaries, Moody's assigned a definitive B1 instrument rating with an LGD3 37% on the €1.3 billion senior secured credit facilities and €150 million revolving credit facility which have been raised at the level of ista International GmbH and on the €350 million senior secured notes raised at the level of Trionista HoldCo GmbH.

Moody's also assigned a definitive Caa1 rating with an LGD6 90% to the €525 million senior subordinated notes issued by Trionista TopCo GmbH.

The outlook is stable.

The B2 corporate family and B2-PD probability of default ratings remain unchanged with a stable outlook.

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