...February 23, 2021 FRANKFURT (S&P Global Ratings) Feb. 23, 2021--S&P Global Ratings said today that it has withdrawn its '###+' long-term issuer credit ratings on Hema B.V. at the company's request. The outlook was negative at the time of the withdrawal. At the same time, we withdrew our 'B' rating on the company's private placement notes (PPNs), our '###+' ratings on the senior secured notes, '###-' ratings on the payment-in-kind (PIK) notes, as well as our respective recovery ratings of '1', '3', and '6' on these debt instruments. The withdrawal follows Hema's acquisition by a consortium of Parcom and Mississippi Ventures, which took effect on Feb. 1, 2021. Based on Hema's public press release, we understand that as part of the acquisition it has refinanced its revolving credit facility, PPNs, and senior secured notes. We lack information on the 120 million PIK notes issued by Helix Holdco S.A., Hema's holding company sitting outside of the restricted group....
