Fitch: No change for SVI

Fitch Ratings said that SVI PCL's recent management buyout, tender offer plan and proposed financing structure are unlikely to have an immediate impact on its ratings.

However Fitch said it will await the completion of the tender offer and a more complete updated review of the company's business and financial profile before taking any formal rating action.

SVI has a national long-term rating of BBB+(tha) and national short-term rating of F2(tha). The outlook is stable.

SVI's ratings could come under pressure if the total amount of funding required to complete the deal results in its adjusted net debt-to-EBITDAR leverage ratio exceeding 1.0x on a sustained basis, Fitch said.

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