London, 07 November 2016 -- Moody's Investors Service, ("Moody's") has today assigned provisional (P)B3 ratings to Perstorp Holding AB's ("Perstorp") proposed approximately USD800 million equivalent Senior Secured First Lien Notes due in 2021, which are expected to be split in EUR and USD, and assigned a provisional (P)Caa2 rating to the proposed USD420 million Senior Secured Second Lien Notes due in 2021. The notes will be used to refinance the company's existing first lien and second lien debt and repay approximately USD150 million of existing mezzanine loans. The notes will benefit from a guarantee package covering 91% of EBITDA as of the twelve months to June 2016. The outlook on all ratings is stable, conditional on the refinancing completing as proposed. The provisional ratings are assigned pending the completion of the refinancing transaction.

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