Fitch assigns Mytilineos notes BB

Fitch Ratings said it assigned Mytilineos SA's upcoming €500 million of green notes an expected BB senior unsecured rating. The recovery rating is RR4.

The new notes due 2026 will rank pari passu with Mytilineos Financial Partners SA's €500 million notes due 2024, rated BB and affirmed Monday, that are guaranteed by Mytilineos SA.

Proceeds will primarily be used for debt repayment as well as general corporate purposes.

“The planned notes will enable the company to further improve its maturity profile, which will support financial flexibility over the medium term,” Fitch said in a press release.

© 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.