Moody’s rates Eutelsat bond Baa3

Moody's Investors Service said it assigned a Baa3 rating to Eutelsat SA's new benchmark-sized senior unsecured bond due 2025.

The outlook is stable.

The proceeds of the new bond will be used to refinance Eutelsat's €800 million 5% senior unsecured bond due 2019.

“The proposed refinancing transaction, whilst being broadly net leverage neutral, is credit positive, as it will allow Eutelsat to extend its debt maturity profile and reduce future interest expenses,” Alejandro Nuñez, Moody's vice president, senior analyst and lead analyst for Eutelsat, said in a news release.

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