S&P gives Reno de Medici, notes B

S&P said it assigned a B rating to Reno de Medici SpA, which completed a reverse merger and took over Rimini Bidco SpA, which was rated B. The agency also transferred the B rating on the €445 million of senior secured floating-rate notes due 2026 to RDM as it became the issuer of these notes through the reverse merger.

S&P withdrew Rimini’s B rating since it was incorporated into RDM and transferred its debt to it.

“The ratings on RDM are in line with our previous credit assessments on Rimini Bidco as we view both companies' credit quality as identical,” S&P said in a press release.

The outlook is stable.

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