S&P rates Empik Media notes B

Standard & Poor’s said it assigned its preliminary B long-term corporate credit rating to Empik Media & Fashion SA. The outlook is stable.

In addition, S&P assigned a preliminary B issue rating to the proposed €240 million senior secured notes to be issued by EMF Group’s 100% owned subsidiary, EM&F Financing AB.

The preliminary rating reflects S&P’s view of EMF Group’s “weak” business risk profile and “highly leveraged” financial risk profile. S&P combines these factors to derive an anchor of b, based on S&P’s view of the group’s credit metrics at the higher end of S&P’s “highly leveraged” category.

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