Debt Purchaser AnaCap Financial Europe Assigned 'BB-' Preliminary Rating; Outlook Stable

AnaCap Financial Partners has established AnaCap Financial Europe S.A. (AFE), a new entity that will be set up in Luxembourg under a reserved alternative investment fund (RAIF) structure, which will acquire a seed portfolio from AnaCap credit funds. We are assigning a preliminary 'BB-' long-term counterparty credit rating to AFE, as well as a preliminary 'BB-' issue rating and recovery rating of '3' to its proposed €315 million senior secured notes. The stable outlook reflects our view that the company's credit metrics will remain stable, that organic growth will remain controlled, and that revenue concentrations that constrain the rating will persist over our one-year outlook horizon. LONDON (S&P Global Ratings) July 10, 2017--S&P Global Ratings said today that it assigned

...+ AnaCap Financial Partners has established AnaCap Financial Europe S.A. (AFE), a new entity that will be set up in Luxembourg under a reserved alternative investment fund (RAIF) structure, which will acquire a seed portfolio from AnaCap credit funds. + We are assigning a preliminary '##-' long-term counterparty credit rating to AFE, as well as a preliminary '##-' issue rating and recovery rating of '3' to its proposed 315 million senior secured notes. + The stable outlook reflects our view that the company's credit metrics will remain stable, that organic growth will remain controlled, and that revenue concentrations that constrain the rating will persist over our one-year outlook horizon. LONDON (S&P Global Ratings) July 10, 2017--S&P Global Ratings said today that it assigned its preliminary '##-' long-term counterparty credit rating to AnaCap Financial Europe S.A. (AFE). The outlook is stable. At the same time, we assigned our preliminary '##-' issue rating and recovery rating of '3'...

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