Fitch ups Optigroup secured rating

Fitch Ratings said it upgraded Unique Bidco AB's (Optigroup) senior secured debt rating to BB- from B+ and affirmed its long-term issuer default rating at B.

“The upgrade of the senior secured debt rating results from the implementation of the final debt structure with the term loan B (TLB) now at €365 million (from €515 million previously), leading to an improved recovery rating of RR2 from RR3 previously,” Fitch said in a press release.

Additionally, the agency said it expects Optigroup’s leverage to decline over the rating horizon to 5x by 2025 from 6x at the end of 2022.

The outlook is stable.

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