Moody’s changes Maxeda view

Moody's Investors Service said it affirmed the B2 corporate family rating and B2-PD probability of default rating of Maxeda DIY Holding BV.

Moody's affirmed the B2 instrument rating of the €475 million senior secured global notes due 2022 issued by Maxeda.

The agency changed the outlook of Maxeda to negative from stable.

“Today's change in outlook to negative reflects the weakening of the company's liquidity as a result of high capital expenditure and high exceptional costs in the last 12 months, despite a solid operating performance,” the agency said in a news release.

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