Moody's assigns Ba3 to Ineos loan

Moody's Investors Service said it assigned a Ba3 rating to Ineos Enterprises Holdings II Ltd.'s planned euro- and dollar-denominated €350 million senior secured term loan A due 2026.

Ineos’ Enterprises Holdings Ltd.’s other ratings are unaffected. These included the corporate family rating of Ineos Enterprises 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 LLC's $370 million senior secured term loan B due 2026.

The loan proceeds are slated to refinance the outstanding €147 million senior secured term loan A due 2024 and to partially fund the acquisition of Ashta Chemicals Inc. for €290 million.

The outlook for all three entities is stable.

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