Moody's alters IHO view to stable

Moody's Investors Service said it changed to stable from negative the outlook of IHO Verwaltungs GmbH.

"The stabilization of the outlook reflects the strong results improvements and recovery in the share prices of Continental AG and Schaeffler AG, IHO-V's two main investments, since we moved the outlook to negative in June last year," said Goetz Grossmann, a Moody's vice president and lead analyst for IHO-V, in a press release.

"Assuming further performance improvements at both investees, we expect IHO-V's credit metrics to reach solid levels for the affirmed Ba2 rating over the next 12-18 months and its liquidity to remain good at all times," Grossman said.

Moody's also affirmed the corporate family rating and senior secured instrument ratings at Ba2 and the probability of default rating at Ba2-PD.

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