Fitch upgrades Kernel to B+

Fitch Ratings said it upgraded Kernel Holding SA's long-term local-currency and foreign-currency issuer default ratings to B+ and removed them from Rating Watch Positive.

The agency also assigned the $500 million Eurobond due January 2022 a final rating of B+.

Fitch said the upgrade follows the improvement in Kernel's liquidity profile and hard currency debt service cover after its refinancing of a substantial portion of its debt with the Eurobond proceeds.

© 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.