Moody’s rates Forvia notes Ba2

Moody's Investors Service said that it intends to assign Ba2 instrument ratings to Forvia SE's planned dual-tranche senior unsecured notes due 2029 and 2031.

“The expected Ba2 instrument ratings on the new senior unsecured notes would be in line with Forvia's Ba2 long-term corporate family rating and the Ba2 instrument ratings on the group's outstanding senior unsecured notes due 2025, 2026, 2027, 2028 and 2029,” Moody’s said in a press release.

Forvia is expected to use the proceeds to refinance its senior unsecured notes due 2025 and its sustainability-linked senior unsecured notes due 2026, subject to a tender offer launched on Feb. 28, other short-term debt, accrued interest, applicable early redemption costs as well as transaction fees and expenses.

The outlook is stable.

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