Moody’s confirms ADO Properties

Moody's Investors Service said it confirmed the Baa3 long-term ratings and the P-3 short term rating of ADO Properties SA, concluding the review for downgrade initiated on Oct. 11.

The outlook is stable.

“The confirmation of ADO's ratings with a stable outlook reflects the successful refinancing transactions ADO completed over the last weeks, which significantly improved the company's liquidity and debt maturity profile,” Oliver Schmitt, Moody's vice president and senior credit officer and lead analyst for ADO, said in a news release.

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