Moody’s rates Atotech UK Topco B2

Moody's Investors Service said it affirmed the B1 ratings of the $1.4 billion senior secured term loans due 2024 and $250 million revolving credit facility due 2022, all co-borrowed by Alpha 3 BV and Alpha US BidCo, Inc.

The agency also affirmed the Caa1 rating of the $425 million senior unsecured notes due 2025, co-issued by Alpha 3 and Alpha US BidCo.

At the same time, Moody's assigned a B2 corporate family rating and B2-PD probability of default rating to Atotech UK Topco Ltd.

The outlook on all ratings is stable.

Following on the assignment of the ratings at Atotech UK Topco Ltd, the agency said it will withdraw the B2 corporate family ratings and B2-PD probability of default ratings assigned last year to Alpha 2 BV.

Moody's said it repositioned the corporate family and probability of default ratings to Atotech UK Topco as it is the ultimate holding company for Atotech and its operating subsidiaries and the entity that will issue the annual audited accounts.

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