S&P rates Banijay, notes, facilities B+

S&P said it assigned a B+ long-term corporate credit rating to Banijay Group SAS.

The outlook is stable.

The agency also assigned a B+ issue rating to the group's €365 million senior secured notes, the €60 million term loan A, and the €35 million revolving credit facility. The recovery rating is 3, indicating an expectation of meaningful recovery in the 50%-70% range (rounded estimate: 65%) in the event of a payment default.

S&P said the rating reflects its stand-alone credit profile (SACP) of bb- on Banijay and the view that the credit quality of the group's controlling shareholder caps the rating at B+.

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