Of codes of conducts and policies covering a number of areas relating Governance structure and consists of an audit committee, a compensationĬommittee and a nominations committee, supplemented by a series The change of control clause under Avast's recent debt documentation.Īccordingly, the review will be focusing on the financial arrangementsįollowing the transaction as well as successful closing including necessaryĮNVIRONMENTAL, SOCIAL AND GOVERNANCE CONSIDERATIONSĬorporate governance at Avast is centred around a well-established Of Avast's outstanding shares, have already irrevocably committed The founders of Avast and management, together representing 37% The closing of the transaction is expected mid-year 2022. Options with a different mix of cash and shares in Nortonlifelock. On the election of Avast's shareholders for one of the two offer On Moody's adjusted EBITDA as per year-end 2020, depending Is valuing Avast at an enterprise value of around 17-19x based Have approved the merger of Avast with Nortonlifelock. On 10 August it was announced that the boards of directors of each company RATINGS RATIONALE / FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE On Avast's business, financial and liquidity profile.Ī full list of affected ratings can be found at the end of this press The review reflects the impact of the transaction (Ba2 RUR DG) for the entire shareĬapital of Avast. Today's rating action reflects the announcement of a recommended Outlook has been changed to ratings under review from stable.

Senior secured revolving credit facility (RCF) maturing 2026. Senior secured term loan B maturing 2028 as well as the $40 million Concurrently, Moody's has placed on review forĭowngrade the Ba1 instrument ratings on the $837 million equivalent The Ba1-PD probability of default rating (PDR) of Avast Holdingī.V., the top-entity of Avast's restricted Placed on review for downgrade the Ba1 corporate family rating (CFR) and Frankfurt am Main, Aug- Moody's Investors Service ('Moody's') has today

Avast rating review