Fitch rates Rodenstock loans B

Fitch Ratings said it published European Optical Manufacturing Sarl's (Rodenstock) long-term issuer default rating at B- with a stable outlook.

Fitch also assigned an expected rating of B/RR3 to the seven-year €425 million senior secured term loan and the six and a half-year €20 million revolving credit facility, which will be issued as part of Rodenstock's proposed refinancing.

“The B- issuer default rating reflects Rodenstock's sustainable business model, which is due to an adequate approach to the market and distribution channels with the lenses division, allowing the company to maintain a prominent position in Germany and reach profitability levels in line with main competitors,” the agency said in a news release.

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