Moody’s changes Financiere N view to negative

Moody’s Investors Service said it changed the outlook for Financiere N to negative from stable.

“The negative outlook reflects the executions risks associated with the implementation of the company’s operating excellence plan which aims at turning around the current issues on the cost side. As a result of this plan, operating improvements are expected by the company starting from 2020 onwards,” said Moody’s in a press release.

The agency affirmed the B3 corporate family rating, the B3-PD probability of default rating, the B2 rating of the €375 million term loans B due in January 2026 and the B2 rating of the €65 million revolver due in January 2025.

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