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S&P cuts BCPE Max Dutch Bidco
S&P said it lowered the ratings on BCPE Max Dutch Bidco BV (Centrient) and its senior unsecured debt to B- from B.
“The downgrade follows Centrient’s disappointing results for the first half of the year, with a marked decline in volumes in the first quarter. The downgrade also reflects a downward revision of our forecasts with a 2019 EBITDA to €75 million, versus €90 million previously, in light of a recent regulatory decision in Mexico and the increasingly competitive environment in emerging markets, where the group seems to be facing difficulties to optimize its premium positioning,” said S&P in a press release.
The outlook is stable.
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