Fitch places Douglas positive watch

Fitch Ratings said it placed Douglas GmBH's B- long-term issuer default ratings and its B and CCC instrument ratings on rating watch positive.

“The RWP reflects the potential for Douglas' credit profile to improve as a result of the announced intention to list the company, raise around €1.1 billion of new equity and apply proceeds to reduce debt as well as refinance remaining debt. Management also stated it plans to pursue further de-leveraging. In Fitch's view, this could result in a one or more notches upgrade,” the agency said in a press release.

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