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S&P: Holland and Barrett, loans B
S&P said it assigned its B long-term corporate credit rating to L1R HB Finance Ltd., the parent of Holland and Barrett.
The outlook is stable.
The agency also assigned a B issue rating to the group's seven-year £450 million senior secured term loan B1 and seven-year €415.5 million senior secured term loan B2. The recovery rating is 3, indicating expectations of meaningful recovery (50%-70%; rounded estimate: 55%) in the event of payment default.
“The vertically integrated business model–whereby H&B benefits from its in-house production facilities for product packaging, coating, and mixing–supports the group's strong margins,” S&P said in a news release.
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