Moody's assigns Baa2 to Pandora notes

Moody's Investors Service said it assigned a Baa2 rating to Pandora A/S’ upcoming sale of €500 million of senior unsecured sustainability-linked notes due 2028. Concurrently, Moody's assigned a provisional long-term (P)Baa2 rating to the company's €1.5 billion equivalent senior unsecured medium-term note program.

Pandora's Baa2 long-term issuer ratings are unaffected by the issuance, the agency said.

The proceeds will be used for general corporate purposes and to pre-fund upcoming and medium-term debt maturities.

The outlook is stable.

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