Moody’s rates Ali, term loan Baa3

Moody's Investors Service said it assigned a Baa3 long-term issuer rating to Ali Holding Srl.

Concurrently, Moody's assigned a Baa3 senior secured rating to the $2.25 billion term loan B of Ali Group North America Corp.

The outlook assigned on both entities is stable.

“The newly assigned Baa3 long-term issuer rating to Ali factors in the company's solid business profile in the foodservice equipment segment with good profitability levels and free cash flow generation and its leveraged capital structure following the debt-funded acquisition of U.S. competitor Welbilt, Inc.,” the agency said in a news release.

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