Moody’s gives B2 to Fedrigoni notes

Moody's Investors Service said it assigned a B2 rating to the €655 million of backed senior secured floating-rate notes to be issued by Fiber Bidco SpA (Fedrigoni).

Concurrently Moody's said it affirmed Fedrigoni's B2 long-term corporate family rating, the B2-PD probability of default rating and the B2 rating on the €1.1 billion of senior secured notes maturing in 2027.

The proceeds will be used together with cash on hand to redeem senior secured debt and to improve Fedrigoni's debt maturity profile.

The outlook remains stable.

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