Ontex IV S.A. -- Moody's upgrades Ontex's CFR to Ba3 triggered by its EUR730 million refinancing; outlook stable

London, 14 November 2014 -- Moody's Investors Service, ("Moody's") today has upgraded Ontex Group NV's ('Ontex' or the 'company') corporate family rating (CFR) to Ba3 from B1 and probability of default rating (PDR) to Ba3-PD from B1-PD. At the same time Moody's has assigned a definitive Ba3 from (P)Ba3 instrument rating to the EUR250 million senior secured notes, the EUR380 million first-lien facility, and the EUR100 million revolving credit facility (RCF) issued by Ontex Group NV, with a stable outlook. The senior proceeds from the secured notes due 2021 and the first-lien facility due 2019 together with EUR45 million cash from balance sheet will be used to repay the existing debt and to pay transactions costs.

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