Fitch puts Perimeter on watch

Fitch Ratings said it placed the B+ issuer ratings of SK Invictus Intermediate II Sarl and SK Invictus Intermediate Sarl (Perimeter Solutions) on rating watch negative following the company's June 16, 2021, announcement of its pending acquisition by EverArc Holdings Ltd., a publicly-listed acquisition company.

Fitch also placed SK Invictus Intermediate II's first-lien senior secured revolving credit facility, first-lien senior secured term loan and second-lien secured term loan on rating watch negative.

“The negative watch reflects the uncertainty regarding Perimeter's long-term capital structure and financial and capital allocation policy, as well as better visibility into additional quarters of the company's business performance,” the agency said in a press release.

Fitch said it plans to resolve the rating watch once the transaction closes, which is expected by year-end.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.