Fitch revises Techem view to negative

Fitch Ratings said it revised Techem Verwaltungsgesellschaft 674 mbH's outlook to negative and affirmed its long-term issuer default rating at B.

Senior secured instruments ratings have been affirmed at B+/RR3.

“The changed outlook reflects Fitch's expectations of a temporary increase in leverage and a decrease in cash generation due to higher operating expenses and capex aimed at improving the long-term economic and technological efficiency of the group,” Fitch said in a news release.

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