Fitch rates Officine Maccaferri bond B

Fitch Ratings said it has assigned Officine Maccaferri SpA a long-term issuer default rating of B and a senior unsecured rating of B.

The outlook on the long-term issuer default rating is stable.

Fitch said it has also assigned Officine Maccaferri's €200 million of 5¾% seven-year bond a final B rating. The rating is in line with Officine Maccaferri's B senior unsecured rating.

The proceeds of the notes 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 agency said.

© 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.