Bulletin: Aragvi Holding International's Proposed Eurobond Add-On Falls Within Rating Expectations - S&P Global Ratings’ Credit Research

Bulletin: Aragvi Holding International's Proposed Eurobond Add-On Falls Within Rating Expectations

Bulletin: Aragvi Holding International's Proposed Eurobond Add-On Falls Within Rating Expectations - S&P Global Ratings’ Credit Research
Bulletin: Aragvi Holding International's Proposed Eurobond Add-On Falls Within Rating Expectations
Published Sep 10, 2021
3 pages (1326 words) — Published Sep 10, 2021
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Abstract:

DUBLIN (S&P Global Ratings) Sept. 10, 2021--S&P Global Ratings today said that Aragvi Holding International's (Aragvi; B-/Stable/--) proposed add-on of $50 million to its existing $450 million senior secured notes due 2026 falls within the rating expectations. The add-on will be issued out of its financing subsidiary, Aragvi Finance International DAC. Aragvi will use the proceeds to fund working capital needs, including the replacement of existing related funding, during the financial year (FY) ending June 30, 2022. In our view, the transaction slightly improves the company's current liquidity position. We continue to view liquidity as a constraining factor for the rating, as we note that the company's trading activities can lead to working capital volatility, and that Aragvi does not

  
Brief Excerpt:

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Report Type:

Bulletin

Issuer
Aragvi Holding International Ltd.
Sector
Global Issuers
Region
Europe, Middle East, Africa
Format:
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MLA:
S&P Global Ratings’ Credit Research. "Bulletin: Aragvi Holding International's Proposed Eurobond Add-On Falls Within Rating Expectations" Sep 10, 2021. Alacra Store. Nov 06, 2026. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Aragvi-Holding-International-s-Proposed-Eurobond-Add-On-Falls-Within-Rating-Expectations-2718718>
  
APA:
S&P Global Ratings’ Credit Research. (). Bulletin: Aragvi Holding International's Proposed Eurobond Add-On Falls Within Rating Expectations Sep 10, 2021. New York, NY: Alacra Store. Retrieved Nov 06, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Aragvi-Holding-International-s-Proposed-Eurobond-Add-On-Falls-Within-Rating-Expectations-2718718>
  
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