S&P rates HomeVi loan B

S&P said it affirmed its B long-term corporate credit rating on HomeVi, the holding company DomusVi.

The outlook is stable.

In addition, the agency assigned its B issue rating to the proposed €1.02 billion senior secured term loan B issued by HomeVi. The recovery rating is 4, indicating an expectation of average (30%-50%; rounded estimate 40%) recovery in the event of a default.

“The affirmation follows HomeVi's announcement of plans to refinance the existing debt following the acquisition of the majority stake in the DomusVi group by Intermediate Capital Group and Sagesse Retraite Sante, which is an investment vehicle of the HomeVi group's founder Yves Journel,” S&P said in a news release.

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