Fitch puts MBCC on positive watch

Fitch Ratings said it placed LSF11 Skyscraper Holdco Sarl's (MBCC) long-term issuer default rating of B+ and senior secured rating of BB- on rating watch positive.

“The rating action follows Sika AG's agreement to acquire MBCC from Lone Star Funds for around CHF 5.5 billion (around €5.2 billion). The RWP reflects Fitch's expectation that the acquisition will strengthen MBCC's credit profile, leading to a stronger financial structure and greater financial flexibility. Fitch expects to resolve the RWP once the acquisition is completed, expected in 2H22,” the agency said in a press release.

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