Fitch rates Klabin notes BB+

Fitch Ratings said it assigned a BB+ rating to the proposed senior unsecured sustainability-linked notes due 2031 to be issued by Klabin Austria GmbH and guaranteed by Klabin SA.

“The sustainability-linked securities framework establishes a water consumption intensity target equal to or less than 3.68 m3/t on Dec. 31, 2025; a waste reuse and recycling target as a percentage equal to or greater than 97.5% on Dec. 31, 2025; and reintroduction and/or reinforcement of wild species into the ecosystem of at least two extinct or threatened species, calculated through rewilding initiatives concluded by 2025, with an interest rate step-up if Klabin fails to meet the targets,” Fitch said in a press release.

Proceeds will be used for the tender for its outstanding 2024 notes and general corporate purposes.

Fitch rates Klabin SA’s long-term foreign and local-currency issuer default ratings BB+ with a stable outlook.

© 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.