Moody's gives team.blue B3, loans B2

Moody's Investors Service said it gave a B3 corporate family rating and B3-PD probability of default rating to team.blue Finco Sarl. Moody's also assigned B2 instrument ratings to the proposed €825 million senior secured first-lien term loan B and the proposed €75 million senior secured revolving credit facility by team.blue Finco.

The B2 rating on the rated first-lien instruments, one notch above the CFR, reflects the seniority ranking above the unrated €225 million second-lien term loan. The debt security includes material assets of the company's operations and the instruments are guaranteed by material subsidiaries accounting for at least 80% of consolidated EBITDA,” the agency said in a press release.

The outlook is stable. The outlook reflects the view team.blue's credit metrics will improve over the next 12-18 months, driven by ongoing revenue growth and margin expansion, Moody’s said.

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