S&P rates Deutsche Erdoel bonds B+

S&P said it affirmed its BB- long-term corporate credit rating on Deutsche Erdoel AG. The outlook is stable.

At the same time, S&P assigned an issue rating of B+ to the proposed €400 million senior unsecured notes due in 2022 to be issued by DEA Finance SA and guaranteed by Deutsche Erdoel. The recovery rating is 5, indicating S&P’s expectation of modest recovery prospects in the lower half of the 10%-30% range.

The rating on the company continues to reflect S&P’s view of the company's fair business risk profile and aggressive financial risk profile, the agency said in a news 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.