Moody’s rates Rossini notes B3

Moody's Investors Service said it assigned a B3 rating to Rossini Sarl's proposed issuance of €650 million worth of senior secured floating rate notes. The outlook is stable.

Proceeds from the offering alongside cash on balance sheet will be used to reimburse the existing €650 million of senior secured floating-rate notes issued in October 2018.

Rossini is an entity holding an indirect majority ownership in Recordati SpA.

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