Fitch gives Maxeda B, notes B+

Fitch Ratings said it assigned Maxeda DIY Holding BV an expected issuer rating of B and its planned €400 million of senior secured notes an expected senior secured debt rating of B+/RR3.

“The B(EXP) rating reflects Maxeda's limited size but leading position in the DIY retail market in the Benelux countries, and resilience of its business model, including consumers shifting expenditures towards DIY while staying at home since the coronavirus pandemic started,” Fitch said in a press release.

The outlook is stable. “The stable outlook reflects moderate execution risks, as Maxeda's turnaround plan is reaching completion, and improving credit metrics due to the resilience of the DIY sector in uncertain macroeconomic conditions,” Fitch said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.