Fitch reviews various corporates

Fitch Ratings said it placed the issuance ratings of the following speculative grade EMEA corporates on rating watch:

• 3AB Optique Developpement SAS’ senior secured long-term rating of BB-/RR2 placed on rating watch positive;

• Crystal Almond Sarl’s senior secured long-term rating of B/RR3 placed on rating watch negative;

• IKKS Group SAS’ senior secured long-term rating of B-/RR2 revised to rating watch evolving from rating watch negative;

• Picard Groupe SAS’ senior secured long-term rating of BB-/RR2 placed on rating watch positive;

• Telenet Finance Luxembourg Notes Sarl’s/Telenet Finance V Luxembourg SCA’s/Telenet Finance VI Luxembourg’s/Telenet Financing USD LLC’s/Telenet International Finance Sarl’s senior secured long-term rating of BB/RR2 placed on rating watch positive;

• UPC Broadband Holding BV’s/UPC Financing Partnership’s/UPCB Finance IV Ltd.’s/UPCB Finance VII Ltd.’s senior secured long-term rating of BB/RR3 placed on rating watch positive; and

• Wind Tre SpA’s senior secured long-term rating of BB/RR2 placed on rating watch negative.

The actions reflect the Feb. 14 publication of Fitch's "Exposure Draft: Country-Specific Treatment of Recovery Ratings."

The agency said it expects to resolve the rating watches within the next six months upon completion of the exposure draft period.

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