Moody's trims Anacap secured notes

Moody's Investors Service said it downgraded Anacap Financial Europe SA SICAV-RAIF's (AFE) backed senior secured debt ratings to B3 from B2 but affirmed AFE's corporate family rating of B2.

“The downgrade of the backed senior secured debt rating to B3 from B2 reflects the change in Moody's assumptions with respect to AFE's future liability structure, following the postponement of the company's €350 million senior secured debt issuance, and the resulting loss-given-default (LGD) impact, based on the application of Moody's loss given default for speculative-grade companies methodology, published in December 2015,” the agency said in a press release.

The outlook remains positive.

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