Moody's alters Flint outlook to positive

Moody's Investors Service said it changed the outlook for ColourOz MidCo's (Flint) to positive from under review and confirmed the corporate family rating and probability of default rating (PDR) at Caa1 and Caa1-PD respectively.

Concurrently Moody's confirmed the Caa1 ratings of the senior secured first-lien term loans and senior secured first-lien revolving credit facility and confirmed the Caa3 ratings of the senior secured second-lien term loans issued by Colouroz Investment 1 GmbH. The agency also confirmed Caa1 rating of the senior secured first-lien term loan issued by FDS Holdings BV.

This rating action concludes the review for upgrade on Flint's ratings started on Sept. 23, the agency said.

The positive outlook reflects the likelihood that with a refinanced capital structure, Flint will deliver credit metrics, business characteristics and a liquidity profile which could be commensurate with a higher rating, Moody’s said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.