Fitch downgrades Europlan

Fitch Ratings said it downgraded Europlan’s long-term issuer default ratings to BB from BB and removed them from Rating Watch negative.

The outlook is stable.

The downgrades reflect increased contagion risks as a result of the company having been acquired by a shareholder, the B&N group, with a weaker credit standing, Fitch said.

The downgrade is limited to one notch as the impact of B&N’s acquisition on Europlan has so far not been significant, the agency said.

Fitch said it does not see any immediate risks for the company. Europlan’s ratings remain underpinned by its still strong financial metrics, the agency added.

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