S&P affirms, withdraws Kloeckner

Standard & Poor's said it affirmed its B long-term corporate credit rating on Kloeckner & Co. SE and then withdrew it at the issuer's request.

The outlook at the time of withdrawal was stable.

The company repaid more than 85% of its €186 million convertible bond in December, following the exercise of the investor put option.

In line with conditions for early redemption, Kloeckner chose to repay the remaining amount on Jan. 12 with cash on the balance sheet.

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