Fitch gives Bite B, notes B+

Fitch Ratings said it assigned PLT VII Finance BV (Bite) an expected issuer rating of B. The outlook is stable.

The senior secured notes issued by PLT VII Finance Sarl and benefiting from Bite's key operating subsidiaries’ guarantees have been rated an expected B+/RR3 rating.

“The company's funds from operations (FFO) gross leverage is high at above 6x at end-2020 and is likely to be maintained in the 5x-6x range with no expected debt prepayment,” Fitch said in a press release.

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