Fitch gives International Design notes B

Fitch Ratings said it assigned International Design Group's planned €470 million senior secured refinancing notes an expected B rating with an RR4 recovery rating.

The agency affirmed the B ratings on International Design and its outstanding senior unsecured notes ratings on April 22.

The company will use the proceeds to refinance its €320 million of floating-rate notes issued in 2019 and use €150 million to fund the acquisition of YDesign Group, LLC. Fitch plans to withdraw the rating of the floating-rate notes once they have been repaid.

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