LVMH cautioned off more jumbo acquisitions by Moody’s

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By Mike Turner
28 Nov 2019

Moody’s has warned France’s LVMH that its $16.2bn debt fuelled acquisition of Tiffany & Co. will put its debt metrics near capacity for its A1 rating, as the acquisitive firm lines up $17bn of financing to buy the US jeweller.

LVMH announced on Monday that Tiffany’s board had accepted an increased bid of $135 a share for the company. This catapults the acquisition to the largest in LVMH’s history. 

It will be financed with an $8.5bn bridge loan, a $5.75bn commercial paper back up line and a €2.5bn ...

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