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S&P keeps O1 Properties on watch
S&P said it was keeping its B- long-term issuer credit rating on O1 Properties Ltd. on CreditWatch with negative implications.
The CCC+ issue ratings on the senior unsecured notes issued by O1 Properties Finance plc and O1 Properties Finance JSC, and guaranteed by O1 Properties Ltd., also remain on CreditWatch negative, the agency said.
“In our view, O1 Properties remains exposed to significant liquidity and refinancing risks. These risks have increased after the ownership change announced in August 2018, which has triggered a put option for O1 Properties' debt, including a $350 million Eurobond maturing in 2021,” S&P said in a news release.
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