Fitch rates Matador Bidco loan BB

Fitch Ratings said it assigned an expected long-term issuer default rating of BB to Matador Bidco Sarl, along with an expected BB rating with recovery rating of RR4 on its senior secured term loan.

The outlook is positive.

The ratings on Matador's are notched down from the ratings on Compania Espanola de Petroleos, SAU (Cepsa) based on such factors as income stream quality, dividend diversification, proportionate holding company leverage, liquidity and dividend control and stability, the agency explained.

The positive outlook mirrors the outlook on Cepsa, Fitch noted.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.