S&P rates Aragvi, bond B-

S&P said it assigned its preliminary B- long-term issuer credit rating to Aragvi Holding International Ltd. (TransOil).

The outlook is stable.

At the same time, the agency assigned a preliminary B- issue rating to the group's proposed senior unsecured dollar-denominated eurobond maturing in five years.

“The preliminary ratings mainly reflect our assessment of the group's vulnerable business risk profile, reflecting the high risk of exposure to a small geographic area for the sourcing of agriculture commodities, balanced with the industry's strong barriers to entry,” S&P said in a news release.

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