S&P affirms Kapla Holding

S&P said it affirmed its B+ ratings on Kapla Holding (Kiloutou) and its senior secured debt and raised the recovery rating on the debt to 3 from 4.

Kiloutou is issuing a €150 million add-on to its €670 million term loan B in order to pre-fund several acquisitions in 2019 and refinance drawings under its revolving credit facility.

“We think EBITDA contribution from acquired entities will offset this additional debt, and anticipate marginally weaker pro-forma leverage ratios in 2019 and 2020 than we previously forecast,” 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.