S&P rates Molnlycke notes BBB

Standard & Poor’s said it assigned its BBB long-term and A-2 short-term corporate credit ratings to Molnlycke Holding AB (publ).

The outlook is stable.

At the same time, S&P said it assigned a BBB issue rating to the proposed €300 million to €500 million senior unsecured notes, in line with the corporate credit rating. The notes will have the same seniority as the company’s existing bank facilities of about €600 million to €800 million (not rated), which includes a €200 million revolving credit facility due in 2018.

S&P said it derives its BBB rating on Molnlycke from S&P’s anchor of bbb, which in turn is based on an assessments of the company’s business risk profile as “satisfactory” and financial risk profile as “intermediate.”

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