Bulletin: AnaCap Financial Europe?s Postponed Bond Issuance Is Credit Neutral - S&P Global Ratings’ Credit Research

Bulletin: AnaCap Financial Europe?s Postponed Bond Issuance Is Credit Neutral

Bulletin: AnaCap Financial Europe?s Postponed Bond Issuance Is Credit Neutral - S&P Global Ratings’ Credit Research
Bulletin: AnaCap Financial Europe?s Postponed Bond Issuance Is Credit Neutral
Published Feb 16, 2022
2 pages (994 words) — Published Feb 16, 2022
Price Free  |  Buy this Report Now

About This Report

  
Abstract:

MOSCOW (S&P Global Ratings) Feb. 16, 2022--S&P Global Ratings today said that the postponement of AnaCap Financial Europe S.A.'s (AFE; B/Stable/--) refinancing does not affect the ratings on the company. The proposed €350 million bond issuance was opportunistic, and the outstanding €308 million matures in 2024, meaning that imminent maturity is not a concern to our ratings. Furthermore, our rating reflects the company's adequate liquidity buffer, with sources exceeding uses by more than 1.5x over the next 12 months. However, we do not disregard that AFE could return to market in the relatively near future, as market volatility eases and credit markets stabilize after a turbulent week. AnaCap Financial Europe's Proposed Senior Secured Notes Assigned 'B' Rating, Feb. 7, 2022

  
Brief Excerpt:

...February 16, 2022 MOSCOW (S&P Global Ratings) Feb. 16, 2022--S&P Global Ratings today said that the postponement of AnaCap Financial Europe S.A.'s (AFE; B/Stable/--) refinancing does not affect the ratings on the company. The proposed 350 million bond issuance was opportunistic, and the outstanding 308 million matures in 2024, meaning that imminent maturity is not a concern to our ratings. Furthermore, our rating reflects the company's adequate liquidity buffer, with sources exceeding uses by more than 1.5x over the next 12 months. However, we do not disregard that AFE could return to market in the relatively near future, as market volatility eases and credit markets stabilize after a turbulent week....

  
Report Type:

Bulletin

Ticker
1523928D@LN
Issuer
GICS
Specialized Finance (40201040)
Sector
Global Issuers
Country
Region
Europe, Middle East, Africa
Format:
PDF Adobe Acrobat
Buy Now

S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

About the Author


Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Bulletin: AnaCap Financial Europe?s Postponed Bond Issuance Is Credit Neutral" Feb 16, 2022. Alacra Store. May 17, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-AnaCap-Financial-Europe-s-Postponed-Bond-Issuance-Is-Credit-Neutral-2796548>
  
APA:
S&P Global Ratings’ Credit Research. (). Bulletin: AnaCap Financial Europe?s Postponed Bond Issuance Is Credit Neutral Feb 16, 2022. New York, NY: Alacra Store. Retrieved May 17, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-AnaCap-Financial-Europe-s-Postponed-Bond-Issuance-Is-Credit-Neutral-2796548>
  
Free
$  £  
Have a Question?

Any questions about the report you're considering? Our Customer Service Team can help! Or visit our FAQs.

More Research

Search all our Credit Research from one place.