Moody's rates WEPA notes B2

Moody's assigned a definitive B1 corporate family rating and B1-PD probability of default rating to WEPA Hygieneprodukte GmbH following the successful execution of the group's refinancing exercise and review of final credit documentation.

Concurrently, Moody's said it has assigned a definitive B2 (LGD 4, 66%) rating to the €275 million of senior secured notes issued by WEPA.

The stable outlook remains unchanged.

The agency said that WEPA's B1 corporate family rating is supported by the group's solid market positions in the production of private label consumer tissue products, which benefit from stable demand due to the largely non-discretionary nature of the products.

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