Fitch rates Eurohold notes B/RR4

Fitch Ratings said it assigned Eurohold Bulgaria AD's €70 million senior unsecured notes a B/RR4 rating.

The notes are rated in line with Eurohold's issuer default rating.

“Fitch applied a tailored recovery analysis for the group, which resulted in a bespoke Recovery Rating to replace the baseline recovery assumption for debt obligations of the issuer,” the agency said in a news release.

“The recovery analysis, based on a going concern approach, resulted in a Recovery Rating of RR4 for senior unsecured debt issued under Eurohold's euro medium term note (EMTN) programme, leading to no notching between the IDR and the debt rating.”

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