Moody's gives Europcar notes add-on B1

Moody's Investors Service said it assigned a B1 rating to the €150 million of guaranteed senior secured mirror notes due 2026 to be issued by EC Finance plc. The new notes will mirror the terms, including the coupon, of the outstanding €500 million of guaranteed senior secured notes due 2026 issued by EC Finance and will be sold as additional notes under the same indenture.

The B1 rating on the outstanding notes is unchanged as is Europcar Mobility Group SA’s corporate family rating at B3 and the probability of default rating at B3-PD.

The proceeds will be used for fleet financing.

The outlook on both entities is stable.

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