Moody’s rates Financiere Holding, facilities

Moody's Investors Service said it assigned a B1 corporate family rating to Financiere Holding CEP (France) (CEP) and a probability of default rating of B1-PD.

The outlook is negative.

The agency also assigned a provisional B1 rating to the proposed €590 million senior secured first-lien term loan issued by CEP and Financiere CEP (France), a provisional B3 rating to the proposed €120 million senior secured second lien term loan issued by CEP and a provisional B1 rating to the proposed €40 million revolving credit facility to be issued by Financiere CEP (France).

Financiere Holding CEP (France) will use the proceeds to repay existing debt obligation and partially repay an existing shareholder loan.

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