Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers N > Headlines for Nufarm Ltd. > News item |
Fitch rates Nufarm notes BB
Fitch Ratings said it assigned BB ratings to the planned U.S. dollar senior unsecured notes to be issued by Nufarm Ltd.’s wholly owned subsidiaries Nufarm Australia Ltd. and Nufarm Americas Inc. under a dual tranche structure.
The parent and several operating subsidiaries, which together contribute about 90% of the group's consolidated EBITDA, will guarantee the notes.
“The notes are rated at the same level as Nufarm's long-term issuer default rating because they represent its direct, unconditional, unsecured and unsubordinated obligations,” Fitch said in a press release.
The proceeds will be used to redeem Nufarm's $475 million of senior unsecured notes due 2026.
The outlook is stable.
© 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.