S&P assigns BB to Webuild notes

S&P said it assigned BB issue-level and 4 recovery ratings to Webuild SpA’s senior unsecured notes of up to €500 million, due in 2028. The 4 recovery rating (40%) reflects the notes' unsecured and unguaranteed nature, as well as their structural subordination to prior-ranking claims.

The ratings are the same as S&P’s ratings on Webuild’s outstanding senior unsecured notes.

Webuild intends to use the proceeds to partially refinance debt and for general corporate purposes.

The outlook is stable.

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