S&P assigns Comete loans B

S&P said it assigned its B long-term corporate credit rating to Comete Holding SAS (Comexposium). The outlook is stable.

S&P also assigned a B issue rating to the group's proposed €355 million term loan B and to the proposed €90 million revolving credit facility. The recovery rating on this debt is 3, indicating an expectation of average recovery prospects (50%-70%; rounded estimate: 50%) in the event of payment default.

“The rating on Comexposium primarily incorporates its relatively small scale compared with rated peers, RELX Group and UBM plc, in the highly fragmented global exhibition market, as well as its high leverage and financial sponsor ownership,” S&P said in a news release.

© 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.