S&P assigns B to Infragroup, loan

S&P said it assigned B ratings to Infragroup Bidco Sarl, its financing subsidiary Finco Utilitas BV, and the €620 million term loan B. The 3 recovery rating reflects meaningful recovery (50-70%; rounded estimate: 60%) in the event of a payment default.

Infragroup was formerly PAI Aldringen Participations 3.

The ratings are unchanged from the preliminary ones assigned in September; however, the term loan was originally for €600 million.

The outlook remains stable.

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