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Fitch affirms DSG
Fitch Ratings said it has affirmed DSG International plc's long-term issuer default rating at B and short-term issuer default rating at B.
The outlook on the long-term issuer default rating remains negative.
Fitch said it has simultaneously assigned a rating of BB-/RR2 to the company's senior unsecured bank facility.
Fitch noted that it has also downgraded the rating of the senior unsecured £300 million bond due 2012 to B+/RR3 from BB-/RR2, reflecting revised recovery assumptions due to an enhanced guarantee package, which has been provided to the lending banks.
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