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Prospect News home > News index > List of issuers B > Headlines for BME Group Holding BV > News item |
S&P revises BME outlook to negative
S&P said it changed its outlook for BME Group Holding BV to negative from stable and affirmed the B ratings on the company and its debt rating.
BME plans to execute a partial refinancing by issuing a fungible add-on to its term loan B2 tranche to partially repay its term loan B1 stub.
“Although the transaction is leverage neutral, we anticipate the trading environment will remain challenging in the first half of 2024 following a weaker 2023 than initially anticipated and leading to S&P Global Ratings-adjusted debt to EBITDA remaining elevated at 8.2x-8.5x in 2024 versus 8.2x in 2023,” the agency said in a press release.
S&P warned it could downgrade BME by a notch if it is unable to lower its leverage to 6.5x starting from next year.
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