Fitch affirms K-Flex, pulls ratings

Fitch Ratings said it affirmed L'isolante K-Flex Spa's long-term issuer default rating at B+ with a stable outlook and senior unsecured rating at BB-. Fitch simultaneously withdrew all ratings for commercial reasons.

The rating reflects K-Flex's solid business profile, benefiting from international revenues, diverse end-markets and a strong market position in a niche market, coupled with its prudent balance sheet management.

Fitch expects the refinancing of the €180 million bond in December 2019 has not significantly affected the company's financial profile. “We assume continued prudent balance sheet management and stable leverage metrics broadly in line with our previous forecasts,” said Fitch in a press release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.