S&P ups, rates Oriflame notes B+

S&P said it upgraded Oriflame Investment Holding plc’s issuer rating to B+ from B and assigned B+ and 3 ratings to its proposed €250 million of floating-rate notes and $550 million of fixed-rate notes, both maturing in 2026.

“Oriflame's tight cost management and focus on increasing its profitability in the skin care and wellness segments support S&P Global Ratings-adjusted debt to EBITDA in the 3.5x-4x range over the next two years,” the agency said in a press release.

Oriflame will use the proceeds to refinance its capital structure.

The outlook is stable.

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