S&P downgrades Rassini

S&P said it lowered the long-term issuer credit rating on Rassini, SAB de CV to B+ from BB.

The agency said it removed the rating on Rassini from CreditWatch, where it was placed with negative implications in October.

The outlook is stable.

The downgrade follows an announcement that as a result of the tender offer it made in October 2018, a significant group of owners purchased ordinary shares and common share certificates in a 100% debt-financed transaction, S&P said.

© 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.