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-Rating Action: Moody's affirms Ovako at B3 : outlook changed to positive

Sep 15, 2017 - ENP Newswire

Moody's Investors Service ('Moody's') has today affirmed Ovako Group AB's ('Ovako)'s corporate family rating (CFR) and probability of default rating (PDR) at B3 and B2-PD, respectively.

Moody's has also assigned a B3 rating on the new EUR300 million senior secured notes due 2022 which Ovako AB (publ), a fully owned subsidiary of Ovako, will issue. The proceeds of the new notes should be used to repay in full the existing EUR300 million senior secured notes due 2019, whose rating has been a...