S&P rates SPCM, loan BB-

Standard & Poor's said it assigned its BB- long-term corporate credit rating to SPCM SA.

The outlook is stable.

At the same time, S&P said it assigned its BB- bank loan rating, in line with the corporate credit rating and a recovery rating of 2 to SPCM's €150 million proposed senior secured bank facilities.

The ratings reflect the group's aggressive leverage following major investments in new production facilities and a significant share buyback tied to a minority shareholder payout, the agency noted.

The ratings also take into account the group's overall relatively small size and somewhat limited product diversification, the agency said.

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