S&P gives Ineos loan BB+

S&P said it assigned a BB+ rating to Ineos Group Holdings planned €700 million loan.

Proceeds will be used upstream dividends to and finance projects in the wider Ineos group and for general corporate purposes within IGH.

“Although the additional debt will not significantly pressure IGH’s credit metrics, we believe the move highlights its shareholders’ readiness to withstand a higher debt burden to fuel expansion in other Ineos businesses,” S&P said in a press release.

S&P affirmed IGH’s BB issuer rating, the BB+ rating on its senior secured debt and B+ rating on its unsecured notes. The agency said it is keeping the negative watch on the company’s ratings.

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