Moody’s has cut debt BC Partner-owned Israeli plastic furniture maker Keter to triple-C territory, reflecting the elevated risk to the refinancing of its €1.205bn TLB due October 2023.

Keter came out to lenders in early September seeking an amend and extend (A&E) of its €1.205bn October 2023 TLB, but wasn’t able to find the 80% majority required to push it through in its original form, according to one buysider. The sponsor had hoped to update the market on the proposal in mid-October, with a deal completed by the end of the month, according to LPC.