S&P assigns B to Livister Investment loan

Standard & Poor’s said it assigned its B long-term corporate credit rating to Livister Investment SLU, known as Gas Natural Fenosa Telecomunicaciones. The outlook is stable.

At the same time, S&P assigned B issue ratings to the company’s proposed loans and revolving credit facility. The recovery rating of 3 reflects an expectation of meaningful (50%-70%) recovery in the event of a default.

The ratings reflect our view of the company’s business risk profile as “fair” and its financial risk profile as “highly leveraged,” the agency said in a news release.

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