S&P rates Swissport notes B-

S&P said it rated Swissport Group Sarl’s proposed €280 million of 5˝-year notes CCC with a 6 recovery rating.

The agency also rated the company’s proposed five-year secured term loan and five-year secured notes B- with a 3 recovery rating. The combined total for the loan and secured notes is €1.23 billion.

The loan and the notes will be used to refinance Swissport’s capital structure. S&P views the transaction as largely neutral from the debt leverage perspective.

The outlook is stable.

S&P affirmed its B- long-term issuer credit rating for Swissport and its B- rating on the company’s existing debt.

© 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.