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Prospect News home > News index > List of issuers E > Headlines for Empark Aparcamientos y Servicios, SA > News item |
S&P gives BB- to Empark notes
Standard & Poor's said it assigned its BB- long-term corporate credit rating to Empark Aparcamientos y Servicios, SA.
The outlook is stable.
At the same time, S&P assigned its BB- issue ratings to Empark's proposed €235 million secured fixed-rate notes due 2019 and €150 million secured floating-rate notes due 2019. The recovery rating on both of these issues is 4, indicating an expectation of average (30%-50%) recovery prospects for noteholders in the event of a payment default.
S&P said the rating on Empark reflects its assessment of the company's business risk profile as "strong" and its financial risk profile as "highly leveraged."
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