Moody's gives Maxeda notes B2

Moody's Investors Service said it assigned a B2 rating to Maxeda DIY Holding BV’s planned €400 million of senior secured notes due 2026.

Moody’s also placed the Caa1 corporate family rating and Caa1-PD probability of default rating as well as the Caa1 rating on the guaranteed senior secured notes issued by Maxeda on review for upgrade. The outlook has been changed to ratings under review from negative.

"The decision to place Maxeda's ratings on review for upgrade and assign a B2 rating to its proposed notes mainly reflects the improved credit metrics and liquidity position of the group, following recently strong operating results and considering its announced refinancing transaction," said Francesco Bozzano, a Moody’s assistant vice president and lead analyst on Maxeda, in a press release.

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