S&P elevates Marcolin to B

S&P said it raised to B from B- its ratings on Marcolin SpA and on the €350 million senior secured fixed-rate notes maturing in 2026. The 4 recovery rating on the rated debt remains unchanged, with a slightly improved recovery prospect of 45%.

The outlook is stable.

“The stable outlook reflects our view that, over the next 12-18 months, Marcolin will maintain resilient operating performance thanks to the favorable product mix and revenue growth from its core licenses (including Tom Ford),” S&P said in a news release.

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