Moody’s rates House of HR notes B2

Moody’s Investors Service said it rated House of HR’s (Villa Dutch Bidco BV) € 415 million of backed senior secured notes B2. House of HR’s other ratings and outlook are unchanged.

“The new backed senior secured notes due 2029 are rated at the same level as Villa Dutch Bidco BV's existing B2 corporate family rating (CFR), reflecting Moody's assumption of a 50% recovery rate as is customary for capital structures including notes and bank debt,” the agency said in a press release.

The backed senior secured notes are part of a refinancing following the acquisition of the company from Bain Capital, Moody’s said.

The proceeds and cash on hand will be used to partially refinance the €415 million bridge facility, which was used in connection with the refinancing transaction.

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