Credit ratings

As a result of the deleveraging and based on the improved profitability of the Group over recent years, the rating agencies, Moody’s and S&P, revised the Group ratings in July 2015.

amended March 30, 2017

 

Rating agencies Type of Debt Rating Credit Watch Outlook
Standard & Poor’s Long-Term Corporate Credit Rating B+ No Stable
€600 million Senior Notes due 2022* B- No
€350 million Senior Secured revolving credit facility (RCF) BB No
€350 million Senior Secured Notes due 2021** B+ No
Moody’s Corporate Family Rating (CFR) B1 No Stable
€600 million Senior Notes due 2022* B3 No Stable
€350 million Senior Secured Notes due 2021** B2 No Stable

* Initial 475 MEUR issuance JUN-2015 and 125 MEUR tap JUN-2016

**Dedicated to fleet financing