Fitch rates HoldIKKS notes B+

Fitch Ratings said it has assigned HoldIKKS SAS's 6¾% seven-year senior secured notes a final rating of B+/RR3.

The notes have been issued to finance the acquisition of the IKKS Group.

Fitch said it has also assigned Financiere IKKS a final issuer default rating of B with a stable outlook and HoldIKKS' super senior revolving credit facility a final rating of BB-/'RR2.

According to the agency, the B issuer default rating reflects resilient business model of IKKS, with a mix of distribution channels, its well-entrenched position in the premium urban fashion niche and fairly high profitability in the industrial context.

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