Moody's assigns (P)Caa1 rating to Constellium's new senior unsecured notes due 2025
London, 02 February 2017-- Moody's Investors Service, has today assigned a provisional Caa1 rating to the new USD625 million senior unsecured notes due 2025 to be issued by Netherland-based aluminum products manufacturer Constellium N.V., and guaranteed by various group subsidiaries. The outlook on the rating is negative. "We have assigned a provisional rating of Caa1 to Constellium's new senior unsecured notes as they will be issued under similar terms to the outstanding...Constellium N.V. designs and manufactures a range of innovative specialty rolled and extruded aluminum products, serving primarily the aerospace, packaging and automotive end-markets. Co. has a strategic footprint of manufacturing facilities located in the United States, Europe and China. Co.'s product portfolio commands higher margins as compared to less differentiated, more commoditized fabricated aluminum products, such as common alloy coils, paintstock, foilstock and soft alloys for construction and distribution. Co. organizes its business around three operating segments: Aerospace & Transportation, Packaging & Automotive Rolled Products, and Automotive Structures & Industry.
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