Moody’s upgrades O1 Properties

Moody’s Investors Service said it upgraded O1 Properties Ltd.’s corporate family rating to Caa2 from Caa3 and the senior unsecured ratings of instruments issued by O1 Properties Finance plc and O1 Properties Finance JSC, which are O1 subsidiaries, to Ca from C.

Moody’s said the upgrade reflects the completion of a restructuring of roughly 45% of O1’s unsecured debt, which materially extends its maturity, thereby alleviating its otherwise high refinancing risk, decreases interest payments and modestly reduces debt burden.

The outlook is stable.

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