| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers C > Headlines for CeramTec > News item |
Fitch rates CeramTec, loan, notes
Fitch Ratings said it assigned CTC BondCo GmbH an expected issuer default rating of B(EXP).
The outlook is stable.
The agency also assigned an expected rating of B+(EXP)/RR3 to the senior secured term loan issued by CTC AcquiCo GmbH, and an expected rating of CCC+(EXP)/RR6 to the senior notes issued by CTC BondCo.
CTC BondCo will own CeramTec Holding GmbH via its subsidiary CTC AcquiCo.
“The ratings reflect CeramTec's aggressive leverage, fully exhausting and initially even exceeding the leverage headroom under the B(EXP) IDR,” Fitch said in a news release.
“This is offset by CeramTec's business risk benefiting from resilient, highly profitable and less capital-intensive medical applications, which materially contribute to its high operating and cash flow margins.”
© 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.