Moody’s assigns Vivo Energy notes Baa3

Moody’s Investors Service said it assigned a Baa3 rating to the proposed $350 million of guaranteed senior unsecured notes that will be issued by Vivo Energy Investments BV, a wholly owned subsidiary of Vivo Energy plc. Concurrently, Moody’s affirmed Vivo Energy’s Baa3 issuer rating.

The proceeds will be used to refinance $269 million of term loans, with the balance held in cash for general corporate purposes and to potentially reduce the drawn portion of $176 million under the $300 million revolving credit facility.

The outlook is stable.

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