TVL Finance plc -- Moody's rates first-time Travelodge's bond issue B3; outlook stable

London, 27 April 2016 -- Moody's Investors Service, ("Moody's") has today assigned a B3 corporate family rating and a B3-PD probability of default rating to Thame and London Limited (Travelodge). Moody's also assigned a (P)Ba3 rating to the proposed Super Senior Revolving Credit Facilities to be issued by Full Moon Holdco 7 Limited, a wholly-owned, indirect subsidiary of Thame and London Limited. Furthermore, Moody's assigned a rating of (P)B3 to the proposed Senior Secured Notes due 2023 to be issued by TVL Finance plc, a wholly-owned, indirect subsidiary of Thame and London Limited. The rating outlook for all ratings is stable. This is the first time Moody's has rated Travelodge.

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