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Fitch rates IPD 3 notes B+
Fitch Ratings said it assigned IPD 3 BV's (Infopro Digital) planned 975 million of notes 2028 an expected B+ senior secured rating. The recovery rating is RR3.
The notes are a notch above IPD's long-term issuer default rating (IDR) of B to reflect their senior secured status in its capital structure and above-average recovery prospects, Fitch said in a press release.
The proceeds will be used to refinance the group's 815 million of notes due in 2025 as well as to partly repay certain shareholder loans.
The outlook is stable.
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