Fitch affirms Legrand notes at BB-

Fitch Ratings said it affirmed Legrand Holding SA's $277.5 million senior notes at BB-.

The agency said it also affirmed the company's senior unsecured rating at BB+ with a positive outlook.

The ratings reflect Legrand's leading global market positions, strong product portfolio and growing EBITDA margin, the agency added.

Fitch said the positive outlook reflects Legrand's improving operating performance and decreasing financial leverage and added that it expects Legrand to continue to reduce its financial debt.

The BB- rating shows Fitch's view of the limited recovery potential for noteholders in a distress scenario, the agency added.

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