S&P cuts Faerch Midco, Faerch Bidco

S&P said it lowered the ratings on Faerch Midco ApS and Faerch Bidco ApS and the rating on the senior secured facilities to B- from B.

Both are holding companies for the Faerch Group A/S.

S&P downgraded the companies because the group underperformed the agency’s EBITDA and debt estimates in the first six months of 2019.

The outlook is stable.

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