Research Update: HSE Finance S.a.r.l. Downgraded To 'CCC' On Weak Recovery Prospects, Outlook Negative - S&P Global Ratings’ Credit Research

Research Update: HSE Finance S.a.r.l. Downgraded To 'CCC' On Weak Recovery Prospects, Outlook Negative

Research Update: HSE Finance S.a.r.l. Downgraded To 'CCC' On Weak Recovery Prospects, Outlook Negative - S&P Global Ratings’ Credit Research
Research Update: HSE Finance S.a.r.l. Downgraded To 'CCC' On Weak Recovery Prospects, Outlook Negative
Published Feb 17, 2025
7 pages (2693 words) — Published Feb 17, 2025
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

S&P Global Ratings views the weak consumer sentiment and soft trading conditions in Germany, HSE Finance S.a.r.l.'s main market, as unlikely to improve quickly enough for the company to expand its earnings in time to refinance at par its debt maturities, including its revolving credit facility (RCF) due May 2026 and notes due October 2026. In our opinion, while liquidity is sufficient to cover the company?s operational needs and interest payments over the next 12 months, the likelihood that HSE may undertake a distressed debt exchange has increased. Therefore, we lowered our long-term issuer credit rating on HSE and our issue-level rating on its senior secured notes to 'CCC' from 'CCC+'. Our '4' recovery rating on the senior secured notes

  
Brief Excerpt:

...S&P Global Ratings views the weak consumer sentiment and soft trading conditions in Germany, HSE Finance S.a.r.l.'s main market, as unlikely to improve quickly enough for the company to expand its earnings in time to refinance at par its debt maturities, including its revolving credit facility (RCF) due May 2026 and notes due October 2026....

  
Report Type:

Research Update

Issuer
HSE Finance S.a.r.l.
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. "Research Update: HSE Finance S.a.r.l. Downgraded To 'CCC' On Weak Recovery Prospects, Outlook Negative" Feb 17, 2025. Alacra Store. May 09, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-HSE-Finance-S-a-r-l-Downgraded-To-CCC-On-Weak-Recovery-Prospects-Outlook-Negative-3324593>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: HSE Finance S.a.r.l. Downgraded To 'CCC' On Weak Recovery Prospects, Outlook Negative Feb 17, 2025. New York, NY: Alacra Store. Retrieved May 09, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-HSE-Finance-S-a-r-l-Downgraded-To-CCC-On-Weak-Recovery-Prospects-Outlook-Negative-3324593>
  
US$ 225.00
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