Kleopatra Holdings 1 S.C.A. Outlook Revised To Negative; 'B' Rating Affirmed - S&P Global Ratings’ Credit Research

Kleopatra Holdings 1 S.C.A. Outlook Revised To Negative; 'B' Rating Affirmed

Kleopatra Holdings 1 S.C.A. Outlook Revised To Negative; 'B' Rating Affirmed - S&P Global Ratings’ Credit Research
Kleopatra Holdings 1 S.C.A. Outlook Revised To Negative; 'B' Rating Affirmed
Published Mar 26, 2018
5 pages (2180 words) — Published Mar 26, 2018
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

Kleopatra Holdings 1 S.C.A. (KP), the ultimate holding company of German packaging manufacturer Kloeckner Pentaplast, underperformed relative to our expectations in 2017. We expect that the group's S&P Global Ratings-adjusted debt to EBITDA will deteriorate to 9.0x by year-end 2018, compared with our previous expectation of 7.5x. We are revising our outlook on KP to negative from stable and affirming our 'B' issuer ratings on KP, as well as our issue ratings on the group's debt. The negative outlook reflects the possibility of a downgrade if the group's lower-than-expected profitability results in EBITDA interest coverage of less than 2x or leads us to revise downward our business risk assessment. LONDON (S&P Global Ratings) March 26, 2018--S&P Global Ratings today revised

  
Brief Excerpt:

...+ Kleopatra Holdings 1 S.C.A. (KP), the ultimate holding company of German packaging manufacturer Kloeckner Pentaplast, underperformed relative to our expectations in 2017. + We expect that the group's S&P Global Ratings-adjusted debt to EBITDA will deteriorate to 9.0x by year-end 2018, compared with our previous expectation of 7.5x. + We are revising our outlook on KP to negative from stable and affirming our 'B' issuer ratings on KP, as well as our issue ratings on the group's debt. + The negative outlook reflects the possibility of a downgrade if the group's lower-than-expected profitability results in EBITDA interest coverage of less than 2x or leads us to revise downward our business risk assessment. LONDON (S&P Global Ratings) March 26, 2018--S&P Global Ratings today revised its outlook to negative from stable on Kleopatra Holdings 1 S.C.A. (KP or Holdco) the ultimate holding company of Germany-based plastic packaging manufacturer Kloeckner Pentaplast, as well as Kleopatra Holdings...

  
Report Type:

Ratings Action

Issuer
Kleopatra Holdings 1 S.C.A.
Sector
Global Issuers
Country
Luxembourg
Region
Europe, Middle East, Africa
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Kleopatra Holdings 1 S.C.A. Outlook Revised To Negative; 'B' Rating Affirmed" Mar 26, 2018. Alacra Store. May 20, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Kleopatra-Holdings-1-S-C-A-Outlook-Revised-To-Negative-B-Rating-Affirmed-2012496>
  
APA:
S&P Global Ratings’ Credit Research. (). Kleopatra Holdings 1 S.C.A. Outlook Revised To Negative; 'B' Rating Affirmed Mar 26, 2018. New York, NY: Alacra Store. Retrieved May 20, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Kleopatra-Holdings-1-S-C-A-Outlook-Revised-To-Negative-B-Rating-Affirmed-2012496>
  
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