Moody's upgrades SoLocal to Caa1 from Caa3 upon completion of debt restructuring; outlook stable
Rating Action: Moody's upgrades SoLocal to Caa1 from Caa3 upon completion of debt restructuring; outlook stable. Global Credit Research- 16 Oct 2020. Madrid, October 16, 2020-- Moody's Investors Service has today upgraded to Caa1 from Caa3 the corporate family rating and to Caa1-PD from Ca-PD the probability of default rating of SoLocal Group S.A., a French provider of local media advertising and digital solutions to the SME sector.Solocal Group SA is a France-based company, which is engaged in local online communication. The Company provides digital content, advertising solutions and transactional services that connect people with local businesses. Solocal Group SA operates in France, Spain, Austria and the United Kingdom and supports the online development of SMB and client accounts, mainly through its four flagship brands: PagesJaunes (engaged in local advertising and information on the Internet and in mobile and print media), Mappy (a portal of services relating to travel: maps, journey planners, local area information searches, before and during the journey), Ooreka (a database of content with practical guides, tutorials, among others, written by such specialists as notaries, lawyers, doctors, electricians and gardeners, among others.
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