S&P rates Twin-Set notes B

Standard & Poor’s said it assigned a preliminary B long-term corporate credit rating to Twin-Set Simona Barbieri srl.

The outlook is positive.

S&P also said it assigned a preliminary B rating to Twin-Set’s proposed €150 million senior secured notes. The recovery rating is 3, indicating 50% to 70% expected default recovery.

The ratings reflect Twin-Set’s aggressive financial risk profile and weak business risk profile, the agency said.

The ratings also consider its relatively small size in terms of revenues and retail network with only 45 stores, S&P said.

© 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.