Moody’s assigns Venga Topco B2

Moody's Investors Service said it assigned a B2 corporate family rating, a B2-PD probability of default rating and a stable outlook to Venga Topco Sarl, the top entity for the Marlink group that produces audited consolidated results since fiscal year 2022.

Concurrently, Moody's withdrew the CFR and PDR of B2 and B2-PD respectively at the Venga Holding Sarl, a subsidiary of Venga Topco to which it had initially assigned the ratings. There are no audited financial results at the Venga Holding level. At the time of withdrawal, the outlook was stable.

The agency also affirmed the B2 ratings of the $600 million senior secured loan due 2029; recently upsized by $80 million and €250 million senior secured term loan due 2029 and the $150 million senior secured revolving credit facility due 2028 issued by Venga Finance Sarl. The outlook for Venga Finance remains stable.

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