S&P revises WEPA view to negative

S&P said it revised WEPA Hygieneprodukte GmbH’s outlook to negative from stable and affirmed the BB- ratings the group and its €200 million of floating-rate notes due 2026 and €400 million of fixed-rate notes due 2027.

“The recent spike of raw material prices will weigh on WEPA's operating performance over 2021-2022. Specifically, surging prices for pulp, recycled paper and energy are likely to constrain WEPA's profitability, and we expect the group's EBITDA margin, as adjusted by S&P Global Ratings, to contract to 10%-10.5% over 2021-2022 from 13% in 2020,” the agency said in a press release.

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