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Building Materials Manufacturer Xella International Assigned Preliminary 'B+' Issuer and Bond Ratings; Outlook Stable May 11
Standard & Poors, May 2011
Abstract
Luxembourg-registered building materials manufacturer Xella International S.A. (Xella) is issuing -300 million of senior secured notes to partially refinance existing debt. We are assigning a preliminary 'B+' long-term corporate credit rating to Xella. We are also assigning a preliminary issue rating of 'B+' to the senior secured notes to be issued by Xella's financing vehicle Xefin Lux S.C.A. The stable outlook reflects our view that Xella's credit metrics should gradually improve over the coming years, although remain highly leveraged. LONDON (Standard & Poor's) May 23, 2011--Standard & Poor's Ratings Services said today that it assigned its preliminary 'B+' long-term corporate credit rating to Luxembourg-registered building materials manufacturer Xella International S.A. (Xella). The outlook is stable. In addition, we assigned a...
Companies mentioned in this report are: Xella International S.A.,Xefin Lux S.C.A.
Action: New Rating
Action: Outlook: Stable
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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