Moody's assigns Signify Baa3

Moody's Investors Service said it assigned a long-term issuer rating of Baa3 to Signify NV. The outlook is stable.

Signify's Baa3 rating balances its leading market positions in conventional and LED lighting business across the value chain, its strong brand recognition, the group's diversification across different geographies as well as its proven track-record to transform the business from conventional lighting to LED.

Furthermore, Moody's regards the acquisition of Cooper Lighting Solutions from Eaton Corp. as credit positive. Although the fully debt-financed acquisition of Cooper will lead temporarily to elevated debt levels, Moody's sees the strategic benefits from this transaction.

© 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.