S&P affirms Elior, rates loan BB

Standard & Poor’s said it affirmed its long-term corporate credit rating on Elior SCA at BB. The outlook is stable.

At the same time, S&P affirmed its BB issue rating on the €228 million senior secured notes due 2020, issued by special-purpose vehicle Elior Finance & Co. SCA. The 3 recovery rating on the debt is unchanged.

In addition, S&P assigned its issue rating of BB and 3 recovery rating to Elior’s new €800 million senior secured facility maturing in 2019 and €150 million senior secured facility maturing in 2022.

“The rating action follows the initiation of the refinancing of Elior’s senior banking facilities,” said S&P credit analyst Andrew Stillman in a news release.

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