Fitch rates Schoeller notes B

Fitch Ratings said it assigned Schoeller Packaging BV an expected long-term issuer default rating of B with stable outlook.

Fitch also assigned an expected instrument rating of B/RR4/31%-50% to the company's proposed €250 million senior secured notes.

The ratings of Schoeller are constrained by its small scale and lower free cash flow (FCF) generation in comparison with its peers', and expected high leverage with limited deleveraging capacity, Fitch said.

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