Credit Ratings
As a result of the deleveraging and based on the improved profitability of the Group over recent years, the rating agencies, Moody’s and S&P, revised the Group ratings in July 2015.
amended March 30, 2017
| Rating agencies | Type of Debt | Rating | Credit Watch | Outlook |
|---|---|---|---|---|
| Standard & Poor’s | Long-Term Corporate Credit Rating | B+ | No | Stable |
| €600 million Senior Notes due 2022* | B- | No | ||
| €350 million Senior Secured revolving credit facility (RCF) | BB | No | ||
| €350 million Senior Secured Notes due 2021** | B+ | No | ||
| Moody’s | Corporate Family Rating (CFR) | B1 | No | Stable |
| €600 million Senior Notes due 2022* | B3 | No | Stable | |
| €350 million Senior Secured Notes due 2021** | B2 | No | Stable |
* Initial 475 MEUR issuance JUN-2015 and 125 MEUR tap JUN-2016
**Dedicated to fleet financing