Moody's improves outlook on Perstorp's credit rating
Moody's Investors Service ("Moody's") has changed the outlook on Perstorp Holding AB rating to stable from the negative outlook given in March 2020.
Concurrently Moody's has affirmed Perstorp's B3 corporate family rating (CFR) and B3-PD probability of default rating (PDR). Moody's also affirmed the B3 ratings of Perstorp's $386.2 million senior secured term loan B, €510 million senior secured term loan B and €100 million senior secured revolving credit facility (RCF). The rating action reflects improvements in Perstorp's leverage reflecting currently strong EBITDA performance and improvements in the company's liquidity profile.
Please read the full press release from Moody´s here.