Fitch gives TransOil eurobond B

Fitch Ratings said it assigned Aragvi Holding International Ltd. (TransOil) foreign currency and local currency long-term issuer ratings of B with a stable outlook.

The agency has also assigned a senior secured rating of B with a recovery rating of RR4 to the $300 million eurobond issued by subsidiary Aragvi Finance International DAC.

“The B rating and stable outlook are based on our expectation that these higher investments will support EBITDA expansion and deleveraging in FY20,” the agency said in a news release.

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