Moody's stabilzes IDG outlook

Moody's Investors Service said it changed the outlook to stable from negative and affirmed the B2 corporate family rating, the B2-PD probability of default rating and the B2 ratings on the €400 million of guaranteed senior secured fixed-rate notes due 2025 and on the €470 million of guaranteed senior secured floating-rate notes due 2026 of International Design Group SpA.

"The outlook change to stable reflects the strong operating performance of IDG in 2021 leading to a better than anticipated improvement in the company's credit metrics. The change in outlook also reflects our expectation that IDG will reduce leverage towards 5x over the next 12-18 months and will maintain good liquidity," said Pilar Anduiza, Moody’s lead analyst for IDG, in a press release.

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