S&P trims Transcom to CCC+

S&P said it downgraded its ratings for Transcom AB to CCC+ from B-, citing its opinion the company will need more favorable operating conditions to support its capital structure in the long run.

“Proposed debt issuance of €20 million will support cash flow in the coming 12 months. The company expects to complete the issuance of a €20 million senior secured term loan, which will rank pari passu with existing senior secured notes to support its business commitments over the coming years,” said S&P in a press release.

The outlook is negative.

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