S&P ups Italian corporates

S&P said it raised the ratings on loans borrowed by three Italian corporates. The agency boosted the rating on Bormioli Pharma SpA’s €55 million super senior revolving credit facility to BB- from B+, Evoca SpA’s €80 million super senior revolver to B+ from B and Lima Corporate SpA’s €60 million revolver to B+ from B. All three loans have 1 recovery ratings (estimated recovery prospects of 95%).

The upgrades follow the upward revision to Group A from Group B to the jurisdiction assessment for the Italian insolvency regime, S&P said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.