S&P assigns B rating to Nutifood notes

S&P said it assigned a preliminary B issue rating to the proposed dollar-denominated notes to be issued by Nutifood Nutrition Food JSC. and guaranteed by its subsidiaries.

The agency also assigned a preliminary B rating to the company.

“Our preliminary rating is based on the expectation that Nutifood will successfully issue the proposed senior unsecured notes and use the proceeds of the bond to repay debt of about $115 million, to fund product development, upgrade, and expansion of production facilities, and for general corporate purposes,” said S&P in a press release.

The outlook is stable.

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