Fitch rates GP Investments perpetuals B

Fitch Ratings said it assigned a B/RR4 rating to GP Investments Ltd.'s extension of its 2007 senior perpetual notes program for $40 million. The company has a B issuer default rating, and its original $150 million perpetual notes issue is rated B.

The outlook is positive.

The agency said GP's ratings are supported by adequate leverage levels, the franchise of the company and the experience of the management team, which augurs well for positive prospects going forward.

The ratings are constrained, however, by the concentrated nature of the current and intended investment portfolio, the uncertainty related to the maturation period of the investment portfolio and GP's timing and ability to realize investment gains, Fitch said.

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