Fitch gives Atrium European bond BBB-

Fitch Ratings said it assigned Atrium European Real Estate Ltd.'s forthcoming new bond of up to €350 million an expected senior unsecured rating of BBB-.

The expected rating is aligned with Atrium's existing senior unsecured rating, reflecting pari passu ranking of the new notes with all present and future unsecured obligations, as well as the proposed terms being materially in line with the existing unsecured notes, the agency said.

The company will mainly use the net proceeds to partially refinance existing debt, including its 2020 and 2022 notes.

Atrium's BBB- long-term issuer default rating is unaffected by the refinancing, Fitch 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.