S&P lifts, withdraws Heckler & Koch

S&P said it raised its long-term corporate credit rating on Heckler & Koch GmbH to B- from CCC+ and removed the rating from CreditWatch, where it was placed with positive implications on July 26.

At the same time, the agency assigned its B- long-term corporate credit rating to parent company Heckler & Koch AG.

The outlook is stable.

At the group's request, S&P subsequently withdrew the corporate credit rating on Heckler & Koch. The outlook was stable at the time of withdrawal.

S&P also withdrew the issue and recovery ratings on its senior secured notes that have been repaid as part of the refinancing.

The agency said the ratings reflect that the group has completed the refinancing of Heckler & Koch’s €220 million senior secured notes that were previously due in May 2018.

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