Moody's Investor Service (Moody's) has today affirmed B2Holding ASA's Corporate Family Rating (CFR) at “Ba3”, and as disclosed at 13 December 2018, downgraded the Company’s local and foreign currency issuer ratings to B1 from Ba3. The issuer outlook has been changed from “review for downgrade” to “stable”. None of B2Holding ASA’s bond issues are rated. The issuer rating is notched down mainly due to the relatively large size of B2Holding’s EUR 510 million senior secured revolving credit facility (“RCF”) compared to the size of senior unsecured bonds in total amount of EUR 725 million. The issuer rating could change depending on the amount drawn under its RCF, change in recovery rate, change in the RCF facility line amount or change in the outstanding bond amount. The rating action concludes Moody’s review opened on the issuer ratings on 10 December 2018, following the application of Moody’s Loss Given Default analysis for Speculative-Grade-Companies (LGD model). B2Holding’s issuer rating reflects the application of Moody’s LGD model for companies and their priorities of claims and asset coverage in the company’s capital stack. B2Holding discloses this information in order to be fully transparent with Moody’s announcement. Please find below the link to the official press release from Moody’s: https://www.moodys.com/research/Moodys-affirms-B2Holdings-Ba3-corporate-family-rating-and-downgrades-issuer--PR_399630 For further information, please contact: Erik J. Johnsen CFO, B2Holding ASA Telephone: +47 415 77 055 E-mail: ejj@b2holding.no
