S&P affirms Comete Holding

S&P said it affirmed its B long-term rating on Comete Holding SAS, the current parent of Comexposium, and the B rating on Comete's existing €455 million senior secured facilities. The outlook remains stable.

Credit Agricole Assurances proposes to acquire Charterhouse Capital Partner's stake in French trade show organizer Comexposium for €877 million, through newly created holding company Cassini SAS.

“We project that the acquisition financing will not lead to a material deterioration in Comexposium group's debt metrics,” S&P said in a news release.

“We expect to withdraw the ratings on Comete Holding SAS and on the existing senior secured facilities, including the €355 million term loan B due 2025 and the €90 million revolving credit facility (RCF) due 2024, once the transaction is complete and the senior secured facilities are repaid,” S&P said in a news release.

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