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Press releases 2015

Moody’s raises ratings on Dometic 2 notches to B1 from B3 and the outlook is changed from stable to positive

On December 15, 2015, Moody’s Rating Services raised its long-term corporate credit rating 2 notches on Dometic Group AB to 'B1' from 'B3'. The outlook is changed from stable to positive.

The rating action concludes the review for upgrade initiated on 12 November 2015 and follows Dometic's successful IPO on 25 November 2015

Dometic used the SEK 4,600 million IPO proceeds to completely repay the outstanding SEK 2,662 million equivalent PIK Toggle Notes on 2 December 2015 and to reduce the bank credit facilities. Dometic has also refinanced the outstanding bank credit facilities with newly arranged bank credit facilities, which pay a significantly lower margin.

The change of the rating outlook to positive from stable reflects the expectation that Dometic will likely deleverage further in the next 12-18 months. 


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