...April 13, 2023 PARIS (S&P Global Ratings) April 13, 2023--S&P Global Ratings today assigned its '##-' issue-level and '3' recovery ratings to Peer Holding III B.V.'s proposed 500 million revolving credit facility (RCF) due June 2028. The instrument will replace the company's existing 125 million RCF. Peer Holding III B.V., a parent to value retailer Action, is seeking to proactively manage its debt maturities and increase its RCF to a size commensurate with the much larger business as of today. In addition to the new RCF, the group has proposed amending its term loan B (TLB), which has 2.285 billion outstanding and is due to mature in March 2025, by extending the maturity of at least 1.5 billion to September 2028. The new tranche is also rated '##-' with a '3' recovery rating, in line with the existing debt. The final amounts and terms of the proposed financing are subject to successful execution of the transaction. If it is completed as suggested, we consider the proposed refinancing plan...
