Moody’s rates Roompot, loans B2

Moody's Investors Service said it assigned a corporate family rating of B2 and probability of default rating of B2-PD to Rose Beachhouse BV (Roompot).

The agency also assigned a B2 rating to the proposed €266 million seven-year senior secured term loan B and €30 million 6.5-year revolving credit facility to be issued by Rouge Beachhouse BV.

The outlook is stable.

Proceeds from the proposed debt issuance will be used to refinance the group's existing debt and also acquire €39 million of the currently leased properties from the third-party owners.

"The assigned B2 corporate family rating reflects Roompot's solid market position in the Netherlands holiday park market, positive free cash flow generation and significant real estate value in the business,” Egor Nikishin, Moody's lead analyst for Roompot, said in a news release.

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