CSM Bakery Solutions Limited — Moody’s Upgrades CSM Bakery Solutions To Caa2; Outlook Revised To Stable
Moody’s Investors Service (“Moody’s”) has upgraded ratings of CSM Bakery Solutions Limited (“CSM”), including the Corporate Family Rating to Caa2 from Caa3, and the Probability of Default rating to Caa2-PD from Ca-PD. The rating upgrades reflect the recent successful completion of a recapitalization, including debt maturity extensions up to 18 months along with a E50 million cash equity contribution from the sponsor. …
