Fitch rates Officine Maccaferri notes B

Fitch Ratings said it assigned Officine Maccaferri SpA an expected long-term issuer default rating of B(EXP) and an expected senior unsecured rating of B(EXP).

The outlook is stable.

The agency also assigned an expected rating of B(EXP)/RR4(EXP) to the company's prospective €200 million 2021 bond.

Proceeds will be used for refinancing existing debt, to acquire the real estate of the company's headquarters, to pay a special dividend to the company's shareholders and for general corporate purposes.

The notes are rated at the same level as Officine Maccaferri's issuer default rating as they will constitute direct, unsecured and unconditional obligations of the issuer and some of its guarantor subsidiaries.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.