Moody's rates Boels loans B1, view now stable

Moody's Investors Service said it affirmed the ratings of Boels Topholding BV, including its B1 corporate family rating and its B1-PD probability of default rating.

Concurrently, Moody's assigned a B1 instrument rating to the new €1.45 billion senior secured term loan B due 2027 and €179 million senior secured revolving credit facility due 2026.

At the same time, Moody's has changed the outlook on all ratings to stable from negative.

“Boels' CFR is strongly positioned in the B1 rating category and reflects the company's strong performance since the beginning of the pandemic, the moderate deleveraging resulting from the transaction and Moody's expectation that management will continue to demonstrate a conservative financial policy,” Moody’s said in a news release.

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