Moody's rates Ineos loan Ba3

Moody's Investors Service said it assigned Ba3 rating to Ineos Enterprises Holdings Ltd.'s proposed €650 million equivalent senior secured term loan B due 2030, being marketed by Ineos Enterprises Holdings II Ltd. and Ineos Enterprises Holdings US Finco LLC.

Other ratings of Ineos Enterprises Holdings and related entities are unaffected. These include Ineos Enterprises' Ba3 corporate family rating and the Ba3 ratings of Ineos Enterprises Holdings II's senior secured term loan A and senior secured term loan B, both due 2026. The Ba3 rating of Ineos Enterprises Holdings US Finco's senior secured term loan B due 2026 is also unaffected.

The proceeds will be used to refinance Ineos Enterprises Holdings US Finco's outstanding $360 million senior secured term loan B, repay €71 million outstanding under the receivables securitization facility and to pay related transaction fees. About €250 million will be used for general corporate purposes.

The outlook is stable for all entities.

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