Fitch ends watch on Globe Trade

Fitch Ratings said it affirmed Globe Trade Centre SA's BB+ long-term issuer default and senior unsecured ratings and removed them from rating watch negative. The outlook is stable.

The agency placed the ratings on RWN in September after GTC said it was buying Ultima Capital SA with undisclosed funding sources. The agency said the rating actions follow GTC's management's decision to end negotiations to acquire Ultima Capital.

“This removes the risk that acquisition-related cash spend, together with consolidation of Ultima's debt, will put additional pressure on GTC's credit metrics. It will also allow management to focus on planned leverage reduction ahead of 2026's debt maturities,” Fitch said in a press release.

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