London, 25 January 2016 -- Moody's Investors Service (Moody's) has today affirmed the B1 corporate family rating (CFR), probability of default (PDR) rating, and ratings on the existing senior secured facilities of Action Holding B.V. (Action or the company). Concurrently, the rating agency has assigned a (P)B1 rating to the envisaged EUR 1,200 million senior secured credit facilities, comprising a EUR 1,125 million term loan B and EUR 75 million revolving credit facility (RCF), being made available to Action's immediate parent, Peer Holding B.V. (Peer). The outlook on all ratings is stable.

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