Moody’s assigns Ba3 to Ineos loan

Moody’s Investors Service said it assigned a Ba3 rating to Ineos Enterprises planned €820 million equivalent senior secured term loan B being marketed by Ineos Enterprises Holdings II Ltd. and Ineos Enterprises Holdings US Finco LLC due 2030.

Moody's further affirmed the corporate family rating of Ineos Enterprises Holdings Ltd. at Ba3 and probability of default rating at Ba3-PD, as well as the Ba3 rating of Ineos Enterprises Holdings II's €780 million senior secured term loan B due 2026, and Ineos Enterprises Holdings US Finco's $370 million senior secured term loan B due 2026.

The proceeds will fund the acquisition of assets of MBCC Group's admixture business unit from Sika AG for €720 million, and for general corporate purposes.

The outlook on all three entities remains stable.

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