Moody's turns Nemera outlook to stable

Moody's Investors Service said it changed the outlook to stable from negative and affirmed the B3 corporate family rating and the B3-PD probability of default rating on Financiere N (Nemera).

The agency also affirmed the B2 rating of the senior secured term loan B due in January 2026 and the B2 rating of the senior secured revolving credit facility due in January 2025. There will be a €40 million add-on to the senior secured term loan B.

“The stable outlook reflects Moody's expectation that growth prospects will remain favorable and that the company will continue to improve the efficiency of its manufacturing processes and its profitability, support a further recovery of credit metrics. The stable outlook also assumes that the company's investment plans, or M&A strategy will not delay expected leverage improvements,” the agency said in a press release.

The proceeds will be used to refinance €28 million of revolver drawings and increase available cash.

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