S&P rates AutoStore loan B

S&P said it assigned a preliminary B rating to Automate Intermediate Holdings II, Sarl and its first-lien credit facility.

“Our preliminary rating on Automate Intermediate Holdings II Sarl, parent of AutoStore SA (AutoStore), primarily reflects our view of AutoStore's relatively small scale and limited product diversification and its highly leveraged balance sheet, with forecast debt to EBITDA of about 6.7x-5.7x in 2019-2020,” said S&P in a press release.

The outlook is stable.

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