Fitch puts Rodenstock on watch

Fitch Rating said it placed Rodenstock Holding GmbH’s B- long-term issuer default rating and the B/RR3 ratings on the debt issued by direct subsidiary Rodenstock GmbH on rating watch negative.

“This rating action follows Rodenstock's announcement that it is being sold to a new financial sponsor, Apax Funds, which Fitch believes could result in a refinancing and subsequent higher debt for the issuer. We expect to resolve the RWN once details of the new capital structure post change of ownership are known,” the agency said in a press release.

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