Moody's ups Axilone, rates loans B2

Moody's Investors Service said it upgraded CCP Lux Holding Sarl's (Axilone) long-term corporate family rating to B2 from B3 and its probability of default rating to B2-PD from B3-PD.

Concurrently, Moody's assigned B2 ratings to the senior secured term loans B2 due January 2028 and the €50 million senior secured multicurrency revolving credit facility due July 2027. Axilone’s loans were previously due 2024-2025.

"The upgrade reflects the improvement in Axilone's liquidity following the extension of its debt maturities, as well as the ongoing recovery in its operating performance after the pandemic, which has reduced the company's leverage to a level commensurate with the B2 rating," said Donatella Maso, a Moody's vice president, senior credit officer and lead analyst for Axilone, in a press release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.