New York, August 05, 2015 -- Moody's Investors Service ("Moody's") today assigned a B1 rating to Hudson's Bay Company proposed US$1.085 billion senior secured term loan B due 2022. Proceeds from the term loan, as well as from committed financing of approximately US$1.265 million of non-recourse real estate financing to be raised in a JV between HBC and Simon Properties will be used to fund the purchase of Galeria Holdings (Kaufhof) from Metro AG for approximately EUR 2.42 billion. All other ratings including the B1 Corporate Family Rating were affirmed. The rating outlook remains stable.
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