S&P assigns Onorato Armatori CCR B+

Standard & Poor's assigned its preliminary B+ long-term corporate credit rating to Onorato Armatori SpA. The outlook is developing.

The company is planning to raise €300 million senior secured notes and €260 million of senior secured facilities including a term loan A and revolving credit facility to refinance the company's existing debt.

The developing outlook reflects that S&P may take a positive or negative rating action on Onorato Armatori depending on the decision of the European Commission on the ongoing state aid investigation, which may be determined in 2016.

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