S&P rates O1 Properties notes B+

Standard & Poor's said it assigned its B+ long-term corporate credit rating to O1 Properties Ltd., which operates in Russia. The outlook is stable.

S&P also assigned a B+ issue rating to the proposed RUB 6 billion senior unsecured notes to be issued by special purpose vehicle O1 Properties Finance. The recovery rating on these proposed notes is 4, reflecting an expectation of average recovery (30%-50%) for bondholders in the event of a payment default.

The rating on O1 Properties reflects S&P's assessment of the company's business risk profile as "fair" and its financial risk profile as "aggressive."

© 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.