Moody’s changes Loire view to positive

Moody's Investors Service said it changed to positive from stable the outlook on Loire UK Midco 3 Ltd. and Loire Finco Luxembourg Sarl.

“The positive outlook reflects Moody's expectations that the company will remain strongly positioned for the assigned rating and that the operating environment will remain favorable for the next quarters. Moody's also expects that new acquisitions will not lead to a material increase in Moody's-adjusted debt/EBITDA and will be successfully integrated into the group,” the agency said in a press release.

Concurrently, Moody's affirmed Loire UK’s B3 corporate family rating and its B3-PD probability of default rating. Moody's also affirmed the B3 ratings on the backed senior secured facilities, including the £265 million revolving credit facility due 2026, and the £1.042 billion equivalent term loan due 2027, all issued by Loire Finco, a directly wholly-owned subsidiary of Midco.

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