Moody’s assigns Ba2 to IHO-V notes

Moody’s Investors Service said it assigned a Ba2 instrument rating to IHO Verwaltungs GmbH's planned €500 million of senior secured notes due 2028.

All other ratings on IHO-V, including the Ba2 long term corporate family rating, the Ba2-PD probability of default rating and the Ba2 instrument ratings on the senior secured notes due 2025, 2026, 2027 and 2029 remain unchanged.

The proceeds notes and cash on hand will be used to partially redeem the group's €800 million of senior secured notes due 2025 and to pay expected fees and transaction costs.

The outlook is stable.

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