S&P: Rhodia unaffected

Standard & Poor's said its ratings and outlook on Rhodia SA (B/stable/B) were unaffected by its announcement of a new €500 million equivalent euro medium-term note issue.

If successful, S&P said this new issue will enhance Rhodia's debt amortization profile - with no material debt repayment before 2009 - and remove a potential refinancing risk tied to its March 2006 €300 million EMTN issue.

The new notes will also be used to prepay other debt and provide some new liquidity.

© 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.