| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers E > Headlines for Ethias SA > News item |
Fitch rates Ethias notes BB
Fitch Ratings said it assigned a final BB rating to Ethias SA’s €170.8 million TAP issue of dated subordinated notes.
The aggregate principal amount of the notes will be €402.7 billion.
Ethias has issued subordinated debt to support its capital position, Fitch said.
The new bond qualifies for tier 2 capital recognition and is treated as 100% debt in the financial leverage calculation for the company, the agency said.
As a result, Ethias’s financial leverage ratio increases to 33% based on a pro-forma calculation using the first half of 2015 financials, up from 25% before the issuance, Fitch said.
The increase in leverage is partially offset by the improvement in capital adequacy, the agency said.
© 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.