Moody’s rates Alcon notes Baa2

Moody’s Investors Service said it assigned a Baa2 rating to Alcon Finance Corp.’s proposed senior unsecured notes. The issuer’s parent, Alcon Inc. will guarantee the notes.

Proceeds will be used for general corporate purposes.

“Moody's believes that Alcon's proposed bond issue reflects a further deterioration in expected credit metrics for 2020, particularly for free cash flow (FCF), owing to lower EBITDA and higher working capital outflows,” the agency said in a press release.

Moody’s affirmed all its Baa2 ratings for Alcon and Alcon Finance.

The outlook is stable.

© 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.