S&P could lift Refresco Gerber

Standard & Poor's said it placed its ratings on Refresco Gerber BV, including the B+ long-term corporate credit and issue ratings, on CreditWatch with positive implications.

The CreditWatch placement follows Refresco Gerber's March 3 announcement that it intends to launch an IPO on Euronext Amsterdam, and that after completion of the envisaged offering, the group anticipates a leverage ratio of up to 2.5 times, defined by Refresco Gerber as net debt divided by adjusted EBITDA.

If this is supported by management's financial policies and S&P assesses it as sustainable over time, the agency believes this transaction could strengthen Refresco Gerber's financial risk profile and may result in a higher corporate credit rating.

© 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.