Nexi's Proposed Senior Unsecured Notes Rated 'BB-', Then Put On CreditWatch Positive Alongside The Issuer Credit Rating - S&P Global Ratings’ Credit Research

Nexi's Proposed Senior Unsecured Notes Rated 'BB-', Then Put On CreditWatch Positive Alongside The Issuer Credit Rating

Nexi's Proposed Senior Unsecured Notes Rated 'BB-', Then Put On CreditWatch Positive Alongside The Issuer Credit Rating - S&P Global Ratings’ Credit Research
Nexi's Proposed Senior Unsecured Notes Rated 'BB-', Then Put On CreditWatch Positive Alongside The Issuer Credit Rating
Published Apr 12, 2021
3 pages (1534 words) — Published Apr 12, 2021
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

S&PGR Rates Nexi's Proposed Debt 'BB-'; Then Puts On Watch Pos MILAN (S&P Global Ratings) April 12, 2021--S&P Global Ratings today said that it assigned its 'BB-' issue rating, with a '3' recovery rating, to Italy-based Nexi SpA's proposed senior unsecured notes. We then placed the issue ratings on CreditWatch with positive implications, in line with the issuer credit rating on Nexi (BB-/Watch Pos/--). The proposed debt comprises €2.1 billion senior unsecured notes split in two tranches (five year and eight year). Our '3' recovery rating indicates our expectation for meaningful (50%-90%, rounded estimate: 55%) recovery in the event of a default. The new notes will rank pari passu with Nexi's all other existing debt. The proposed issuance follows Nexi's

  
Report Type:

Ratings Action

Issuer
Nexi SpA
Sector
Global Issuers
Country
Italy
Region
Europe, Middle East, Africa
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Nexi's Proposed Senior Unsecured Notes Rated 'BB-', Then Put On CreditWatch Positive Alongside The Issuer Credit Rating" Apr 12, 2021. Alacra Store. May 23, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Nexi-s-Proposed-Senior-Unsecured-Notes-Rated-BB-Then-Put-On-CreditWatch-Positive-Alongside-The-Issuer-Credit-Rating-2625929>
  
APA:
S&P Global Ratings’ Credit Research. (). Nexi's Proposed Senior Unsecured Notes Rated 'BB-', Then Put On CreditWatch Positive Alongside The Issuer Credit Rating Apr 12, 2021. New York, NY: Alacra Store. Retrieved May 23, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Nexi-s-Proposed-Senior-Unsecured-Notes-Rated-BB-Then-Put-On-CreditWatch-Positive-Alongside-The-Issuer-Credit-Rating-2625929>
  
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