Fitch assigns Skyscraper B+, loans BB

Fitch Ratings said it assigned LSF11 Skyscraper Holdco Sarl, an expected long-term issuer default rating of B+ with a stable outlook. Fitch also assigned Skyscraper’s proposed senior secured debt an expected rating of BB with a recovery rating of RR2 (76%).

“The ratings reflect the strong positions of the business in performance solutions for the construction markets, offering a wide range of products for the infrastructure, commercial and residential construction markets,” Fitch said in a press release.

Skyscraper is expected to reach funds from operation (FFO) leverage of 6x by end-2020, which Fitch said it expects to improve to 5x by 2022, as cost-savings measures are implemented.

© 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.