Fitch might cut EA Partners II

Fitch Ratings said it placed EA Partners II BV's (EAP II) notes senior secured rating of CC with a recovery rating of RR3 on rating watch negative due to a criteria change.

Separately, the agency assesses the impact of the announced remarketing event at EA Partners as neutral.

The agency has also affirmed EA Partners I BV's (EAP I) senior secured notes at CC with a recovery rating of RR3.

“We do not expect an adverse impact from the announced remarketing event at EAP II on its bond rating which already reflects the creditworthiness of the obligor of the weakest credit quality (in default), as well as our conservative assessment of the recovery prospects for the notes. We view a rating-positive outcome of the remarketing as unlikely,” Fitch said in a news release.

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