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S&P gives B to Servus bonds
Standard & Poor's said it assigned its B long-term corporate credit rating to Servus HoldCo Sarl, the holding company of Stabilus.
The outlook is stable.
At the same time, S&P assigned its B issue rating to Stabilus' €315 million senior secured bond with a 3 recovery rating, indicating the expectation of meaningful (50%-70%) recovery in the event of a payment default.
The ratings are at the same level as the preliminary ratings we assigned on May 28, reflecting the agency's view of Stabilus' unchanged financial risk profile under its final capital structure.
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