Moody's rates Casino loan B2, notes Caa1

Moody's Investors Service said it assigned a B2 rating to Casino Guichard-Perrachon SA's proposed €800 million guaranteed senior secured term loan B due 2025.

Concurrently Moody's assigned a Caa1 rating to Casino's proposed senior unsecured €425 million notes due 2027.

Casino's B3 corporate family rating, B3-PD probability of default rating and B2 backed senior secured rating remain unchanged. The outlook is stable.

“The proposed transaction has no impact on the company's leverage. The transaction is expected to reduce Casino's interest expense while extending its debt maturities,” Moody’s said in a news release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.