Moody's rates Eiger loan B2

Moody's Investors Service said it assigned a B2 corporate family rating and B2-PD probability of default rating to Eiger Midco BV (Exact), the top guarantor in the restricted group.

The outlook is stable.

Moody's also said it withdrew Eiger Acquisition BV's B2 corporate family rating and B2-PD probability of default rating.

The agency also said it has assigned definitive B2 ratings to the €330 million senior secured first-lien term loan B and €50 million pari passu ranking revolving credit facility borrowed at the level of Eiger Acquisition.

The ratings were withdrawn due to reorganization as Eiger Midco is now the top entity in the restricted group, Moody's said.

The stable outlook reflects am expectation that the company will maintain a good momentum in revenue and EBITDA growth and not make any material debt-funded acquisitions or shareholder distributions, the agency said.

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