New York, July 18, 2016 -- Moody's Investors Service ("Moody's") assigned a Ba2 Corporate Family Rating ("CFR") and Ba2-PD Probability of Default Rating ("PDR") to Coherent Holding GmbH ("Coherent GmbH"), an operating subsidiary of parent company Coherent, Inc. ("Coherent"). Concurrently, Moody's assigned a Ba2 rating to Coherent GmbH's proposed senior secured bank credit facility and assigned a Speculative Grade Liquidity ("SGL") rating of SGL-2. The bank credit facility will consist of a $750 million term loan (Euro denominated) and a $100 million revolving credit facility (multi-currency). The proceeds of the new debt financing will be used principally to fund the pending acquisition of Rofin-Sinar Technologies, Inc. ("Rofin"), a leading supplier of high-performance laser-based solutions, for an enterprise value of approximately $840 million. The ratings assume that the Rofin acquisition will be completed by the calendar year ending 2016. The ratings outlook is stable.

Vollständigen Artikel bei Moodys lesen