Fitch rates Tereos notes BB-

Fitch Ratings said it gave Tereos SCA's planned senior unsecured notes issue an expected BB- rating with an RR5 recovery rating. Subsidiary Tereos Finance Groupe 1 (FinCo) will issue the notes.

“The notes are rated in line with other senior unsecured debt that is currently outstanding at Finco, ie one notch below Tereos' BB issuer default rating (IDR),” Fitch said in a statement.

Tereos will use the proceeds for debt refinancing.

The outlook is stable.

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