Moody's Investors Service has affirmed Codere S.A.'s corporate family rating (CFR) at Caa3 and the company's probability of default rating (PDR) at Caa3-PD/LD. Concurrently, Moody's affirmed the rating of the EUR250 million guaranteed super senior secured notes (SSSNs) due September 2023 at B3 and the rating of the EUR500 million and USD300 million guaranteed senior secured notes (SSNs) now due November 2023 at Caa3, issued by Codere Finance 2 (Luxembourg) S.A. The outlook on the ratings has been changed to stable from negative.
Moody's has appended Codere's Caa3-PD PDR with the "/LD" limited default designation because Moody's views the bond maturity extension as a distressed exchange, which is an event of default under Moody's definition of default. Moody's will remove the "/LD" designation from the company's PDR after three days.
18+ | Juegoseguro.es – Jugarbien.es
