29.04.2015 19:59:00

DPx Holdings B.V. -- Moody's rates DPx Holdings' PIK toggle debt Caa2 and affirms B3 CFR; outlook negative

New York, April 29, 2015 -- Moody's Investors Service assigned a Caa2 rating to the proposed issuance of $500 million of senior PIK toggle notes by JLL/Delta Pledgeco B.V., the parent holding company of DPx Holdings B.V. (collectively DPx). At the same time, Moody's affirmed DPx Holdings B.V.'s B3 Corporate Family Rating and B3-PD Probability of Default Rating. The rating outlook was changed to negative from stable. The proceeds of the debt offering will be used to fund a dividend to shareholders.

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