Moody’s rates Parts Europe loan B2

Moody’s Investors Service said it rated Parts Europe SA’s planned €580 million backed senior secured term loan B due in 2031 B2. The issuer is the financing unit of Parts Holding Europe SA.

The company's B2 corporate family rating, B2-PD probability of default rating and B2 backed senior secured instrument ratings issued by Parts Europe remain unchanged, Moody’s said.

Parts Holding will use the loan to repay €580 million of senior secured notes due in 2025. As part of this transaction, balance sheet cash of around €8 million will be used to fund fees and expenses.

The outlook is positive.

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