...The downgrade reflects increased liquidity and medium-term refinancing risks at Casper Debtco B.V., which indirectly owns floriculture company Dummen Orange, amid greater intra- year funding requirements from the financial year ending September 2022 (FY22), as well as delays in delivering its operational turnaround. High cost pressures compound Fitch Ratings' view of sustained negative free cash flow (FCF) generation and a partly funded liquidity profile. Uncertainties around the company's ability to extend the recently obtained two-year trade working capital (TWC) funding facility beyond March 2024 and deleverage from the currentl y high leverage levels exacerbate refinancing risks within the next two years, even before major contractual debt maturities, and mainly if additional funding is required....
