S&P: Albea Beauty notes B+

Standard & Poor's said it assigned its B+ long-term corporate credit rating to Albea Beauty Holdings SA. The outlook is stable.

At the same time, the agency said it assigned a B+ issue rating to Albea's €200 million senior secured notes and $385 million senior secured notes, both due 2019. The recovery rating on these notes is 4, indicating an expectation of average recovery in the event of a payment default.

S&P said the rating on Albea reflects its assessment of the group's financial risk profile as aggressive and business risk profile as fair.

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