Obbligazioni societarie HIGH YIELD e oltre, verso frontiere inesplorate - Vol. 2

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Please be advised that Perstorp released the Q3 2019 report today.
This link should take you to where it can be downloaded;
Investor Relations - Perstorp
Ho avuto per alcuni anni in portafoglio il vecchio bond 9% callato 2/3 anni fa, mi pare che poi abbiano richiamato anche quello nuovo che non ho comprato e che aveva una cedola intorno al 4%. La proprietà e di Pai, private equity tra i più affidabili. È stata sempre piuttosto regolare, ricordo qualche problema con stabilimenti italiani per problemi di inquinamento. Non saprei dirti altro
 
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Ho avuto per alcuni anni in portafoglio il vecchio bond 9% callato 2/3 anni fa, mi pare che poi abbiano richiamato anche quello nuovo che non ho comprato e che aveva una cedola intorno al 4%. La proprietà e di Pai, private equity tra i più affidabili. È stata sempre piuttosto regolare, ricordo qualche problema con stabilimenti italiani per problemi di inquinamento. Non saprei dirti altro
 

Casino Guichard-Perrachon Off Watch Negative; Outlook Negative After Debt Refinancing Announcement; 'B' Ratings Affirmed

  • 22-Oct-2019 21:14 EDT
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  • On Oct. 22, 2019, Casino Guichard-Perrachon announced its intention to refinance its outstanding bank credit lines of about €2 billion secured revolving credit facility (RCF) maturing in October 2023 and part of its unsecured bonds maturing between 2020 and 2022 with a mix of a secured term loan B and an additional secured financing, for a total amount of €1.5 billion.
  • We have assigned a 'B+' issue rating and a '2' recovery rating to the proposed secured bank loans and to the other new secured instrument. In addition, we have affirmed our 'B' issue ratings, with a '4' recovery rating, on the existing senior unsecured bonds.
  • We have removed our ratings on Casino from CreditWatch negative, reflecting the various positive measures the company is rolling out to mitigate rating pressure. These measures include cutting dividends for the next 18 months, expanding its assets disposal program, and simplifying its corporate structure in Latin America.
  • Furthermore, the proposed refinancing transaction, if successfully executed, will allow the group to improve its debt maturity schedule and its liquidity position, thereby giving the company more time and headroom to improve profitability, cash generation, and reduce debt.
  • We have affirmed our 'B' issuer credit ratings on Casino, and assigned a negative outlook.
  • The outlook is negative, reflecting the continuing uncertainty arising from the ongoing safeguard procedure of its parent companies, which could still indirectly damage its credit standing. The negative outlook also reflects the group's weak cash flow generation and the execution risk associated with its restructuring and deleveraging plans.

PARIS (S&P Global Ratings) Oct. 22, 2019--S&P Global Ratings said today it took the above rating actions.
 

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