Report
EUR 156.64 For Business Accounts Only

Moody's assigns a Ba3 to Sotheby's note issuance

Rating Action: Moody's assigns a Ba3 to Sotheby's note issuance. Global Credit Research- 07 Dec 2017. New York, December 07, 2017-- Moody's Investors Service, assigned a Ba3 rating to Sotheby's proposed $400 million 8- year senior unsecured notes.
Underlying
Sotheby's

Sotheby's is a global art business whose operations are organized under two segments: Agency and Finance. The Agency segment matches buyers and sellers of authenticated fine art, decorative art, jewelry, wine and collectibles (collectively, art or works of art or artwork or property) through the auction or private sale process. Agency segment activities also include the sale of artworks that are principally acquired incidental to the auction process and the activities of RM Sotheby's, an equity investee that operates as an auction house for investment-quality automobiles. The Finance segment provides art-related financing activities by making loans that are secured by works of art.

Provider
Moody's Investors Service
Moody's Investors Service

Moody's Investors Service is a leading provider of credit ratings, research, and risk analysis. Moody's commitment and expertise contributes to transparent and integrated financial markets, protecting the integrity of credit. Our ratings and analysis track debt covering more than:

  • 130 countries
    11,000 corporate issuers
    21,000 public finance issuers
    76,000 structured finance obligations



Credit ratings and research help investors analyze the credit risks associated with fixed-income securities. Such independent credit ratings and research also contribute to efficiencies in fixed-income markets and other obligations, such as insurance policies and derivative transactions, by providing credible and independent assessments of credit risk.



Moody’s default studies validate our predictive ratings. Our published research and investor briefings draw thousands of attendees each year and keep investors current with the rationale underlying our credit opinions. 

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