Moody’s rates Roehm loans Caa1

Moody’s Ratings said it rated Roehm Holding GmbH’s planned senior secured revolving credit facility and senior secured term loan Caa1. Concurrently, Moody's assigned a Caa1 rating to the proposed senior secured term loan issued by Roehm US Holding LLC.

The agency said it also affirmed Roehm’s Caa1 corporate family and Caa1-PD probability of default ratings.

As part of the transaction, the company will extend its outstanding revolver and term loan maturity dates by 2.5 years to July 2028 and January 2029, respectively.

Additionally, as part of the transaction, the company’s shareholder Advent International will get €200 million from Advent to bolster the company's liquidity as capital expenditures for the company's LiMA project are expected to continue into 2025, with outlays totaling around €330 million in 2024 and €25 million in 2025.

The outlook is stable.

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