Fitch gives Grunenthal note BB+

Fitch Ratings said it gave Grunenthal GmbH's planned €300 million of senior secured notes, maturing in 2030, expected BB+/RR2 instrument ratings.

The agency affirmed the BB+ ratings on the company’s outstanding senior secured notes on March 27.

“We expect the issuance to be leverage neutral as proceeds will be used to repay a €200 million bridge loan and €75 million Schuldschein facilities,” Fitch said in a press release.

The outlook is stable.

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