Moody’s rates Diebold Nixdorf loans B3

Moody's Investors Service said it affirmed Diebold Nixdorf, Inc.'s B3 corporate family rating, B3-PD probability of default rating, SGL-3 speculative grade liquidity rating, the B3 ratings on the company's existing first-lien credit facilities as well as the Caa2 ratings on Diebold's senior unsecured notes.

Concurrently, Moody's assigned a B3 rating to the company's proposed revolving credit facility and term loan A for which Diebold plans to extend maturities to April 2022 from December 2020 alongside a modest aggregate increase in total borrowings.

The outlook was revised to stable from negative, principally reflecting the company's stronger liquidity prospects under a successful maturity extension as well as demonstrated improvements in operating profitability through the first six months of 2019, the agency said.

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