S&P rates Editis BB-, Odyssee notes B

Standard & Poor's said it assigned its first BB- long-term corporate credit rating on Editis Holding SA. The outlook is stable.

Odyssee Financing SA's (a sister company of Editis Holding) proposed €150 senior notes were assigned a B rating.

"The ratings reflect the company's aggressive capital structure, a degree of business seasonality in that operating cash flows are skewed toward the second half of the year and limited geographical diversification," said S&P credit analyst Melvyn Cooke.

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