Fitch rates Anima bonds BBB-

Fitch Ratings said it assigned Anima Holding SpA's planned €300 million senior unsecured bond issue an expected rating of BBB-.

Concurrently, Fitch revised the outlook to negative from stable and affirmed Anima’s long-term issuer default rating and senior unsecured long-term rating at BBB-.

Anima intends to use around €100 million of the proceeds to repay outstanding bank debt during 2021, with the remainder earmarked for general corporate purposes. This use of proceeds could also include the pay-down of its remaining bank debt of €162 million in the absence of other viable deployment opportunities, Fitch said.

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