Moody's assigns Titan notes Caa2

Moody's Investors Service said it assigned a Caa2 rating to the €375 million of guaranteed senior subordinated notes due 2029 being issued by Titan Holdings II BV. The outlook is stable.

“The guaranteed senior subordinated notes will rank three notches below the B2 rated senior secured credit facility issued by Kouti BV, a wholly owned subsidiary of Titan. The notes' rating is two notches below the corporate family rating for Titan due to their ranking priority within the capital structure,” Moody’s said in a press release.

The outlook is stable.

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