Moody's rates UPC notes B2

Moody's Investors Service said it assigned a B2 rating to the €600 million senior notes due 2022 issued by UPC Holding BV.

The outlook is stable.

The bond proceeds will be used for general corporate purposes and will increase UPC's covenant total debt to annualized EBITDA ratio by roughly 0.3x to 4.98x in the absence of re-financing of existing debt from some of the bond proceeds.

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