Moody's changes IHO-Verwaltung view to negative

Moody’s Investors Service said it changed the outlook to negative from under review and confirmed IHO Verwaltungs GmbH’s corporate family rating and senior secured instrument ratings at Ba2 and the probability of default rating at Ba2-PD.

This rating action ends the review for downgrade process started on March 26, Moody’s said.

The negative outlook reflects the high volatility of share prices of Continental AG and Schaeffler AG, which might increase IHO-V’s market value-based net leverage beyond Moody’s expectations for the Ba2 again, the agency said.

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