Cott Corporation -- Moody's assigns B3 to Cott's new Euro bonds; upgrades second lien notes to Ba2; other ratings affirmed; outlook stable

New York, June 13, 2016 -- Moody's Investors Service today assigned a B3 rating to Cott Corporation's ("Cott") new EUR450million senior unsecured bonds and upgraded its second lien notes due 2021 to Ba2. Cott's other ratings including its B2 Corporate Family Rating, the B2-PD Probability of Default Rating, SGL-2 liquidity rating, and B3 rating on its existing $525 million senior unsecured debt were affirmed. The debt issuance will be used for general corporate purposes, primarily to finance its pending acquisition of Eden Springs (Hydra Dutch Holdings 2 B.V., B2, negative) ("Eden"), a deal valued at approximately Euro 470 million (US $530 million). Eden is a leading provider of water and coffee delivery services to homes and offices in a variety of European countries, Israel and Russia. Moody's expects the transaction to close in the third quarter of fiscal 2016. The rating outlook is stable.

Vollständigen Artikel bei Moodys lesen