Fitch rates Rexel bond BB-

Fitch Ratings said it assigned Rexel, SA's €575 million 8 ¼% bond due 2016, a final senior unsecured rating of BB-. The bond's rating is in line with Rexel's senior unsecured BB- rating, which itself reflects the group's focused business strategy and the expected financial flexibility going forward, Fitch said. Its long-term issuer default rating is BB-.

The outlook is stable.

The final rating follows the bond's documents conforming to information already received.

The bonds will rank pari passu with the new bank credit facility, Fitch said.

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