Moody's lowers Via Solutions view to negative

Moody's Investors Service said it confirmed the Baa2 rating on Via Solutions Nord GmbH & Co. KG's €429.1 million in senior secured bonds.

The outlook was revised to negative.

This concludes a review that began in September, Moody's said.

The ratings reflect the terms of amendments to the project and construction agreements that changed the requirements for achieving completion, Moody's explained.

The company's liquidity remains sound and is sufficient to cover operating expenses, capital expenditures and interest during construction, the agency said.

The negative outlook reflects the elevated risk that the project incurs delays on the final and most complex section, along with the very tight buffer between the new completion date and the financing longstop date, Moody's said.

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