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Moody's gives Baa3 to LKQ notes
Moody's Investors Service said it gave a Baa3 rating to LKQ Corp.'s planned senior unsecured notes.
LKQ's Baa3 long-term issuer rating, LKQ European Holdings BV's Baa3 senior unsecured rating and LKQ Italia Bondco SpA's Baa3 senior unsecured rating are all unaffected currently, the agency said.
The proceeds, along with a Canadian term loan, will be used to fund LKQ's previously announced acquisition of Uni-Select Inc. The transaction is expected to close later this year.
The outlook is stable.
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