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Moody's Changes Outlook Of Grifols SA's Ba2 Rating To Negative

Wednesday, 13 Nov 2013 11:44am EST 

Moody's announced that it has changed to negative from stable the outlook on Grifols SA ratings. Concurrently, the Ba2 Corporate Family Rating (CFR), the Ba2-PD Probability of Default Rating as well as the Ba1 senior secured and B1 senior unsecured ratings to bank and bond instruments respectively of Grifols SA and its guaranteed subsidiary have been affirmed. The rating action reflects moderate releveraging of Grifols SA pro-forma for the planned purchase of Novartis diagnostic units for USD 1.675 million in a largely debt funded transaction. 

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