S&P rates WE Soda notes B+

S&P said it assigned its preliminary B+ issuer credit rating to West End Soda (WE Soda)'s intermediate parent company, Kew Soda Ltd., and a preliminary B+ issue rating to the senior secured notes due 2028 to be issued by WE Soda Investments Holding plc.

The outlook is negative.

S&P noted that WE Soda plans to raise $750 million of senior secured notes to refinance its existing capital structure.

“The negative outlook on the preliminary long-term rating on Kew Soda mirrors that on the sovereign rating on Turkiye, which reflects risks to Turkiye's creditworthiness from untenable monetary, financial, and economic policy settings, as well as increasing contingent liabilities from state banks and public enterprises,” S&P said in a news release.

© 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.