Research Update: Lowell And GFKL's Parent Garfunkelux Holdco 2 'B+' Rating Affirmed On Proposed Tap; Outlook Remains Negative - S&P Global Ratings’ Credit Research

Research Update: Lowell And GFKL's Parent Garfunkelux Holdco 2 'B+' Rating Affirmed On Proposed Tap; Outlook Remains Negative

Research Update: Lowell And GFKL's Parent Garfunkelux Holdco 2 'B+' Rating Affirmed On Proposed Tap; Outlook Remains Negative - S&P Global Ratings’ Credit Research
Research Update: Lowell And GFKL's Parent Garfunkelux Holdco 2 'B+' Rating Affirmed On Proposed Tap; Outlook Remains Negative
Published Apr 19, 2017
9 pages (3213 words) — Published Apr 19, 2017
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

Luxembourg-based Garfunkelux Holdco 2 S.A. (GH2), the intermediate holding company consolidating primary operating companies Lowell Group Ltd. and GFKL Financial Services GmbH, announced on April 19, 2017 that it intends to tap its existing €230 million floating rate notes issued by Garfunkelux Holdco 3 S.A. (GH3). We understand that the company plans to issue a €175 million private tap on the same terms as the existing floating rate notes due 2021, and that the proceeds will be used to repay drawings under the revolving credit facility and provide funding for future business growth. We are affirming our 'B+/B' long- and short-term counterparty credit ratings on GH2 and affirming our 'B+' issue rating on the senior secured floating rate notes subject

  
Brief Excerpt:

...Luxembourg-based Garfunkelux Holdco 2 S.A. (GH2), the intermediate holding company consolidating primary operating companies Lowell Group Ltd. and GFKL Financial Services GmbH, announced on April 19, 2017 that it intends to tap its existing 230 million floating rate notes issued by Garfunkelux Holdco 3 S.A. (GH3)....

  
Report Type:

Research Update

Issuer
Garfunkelux Holdco 2 S.A.
GICS
Specialized Finance (40201040)
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: Lowell And GFKL's Parent Garfunkelux Holdco 2 'B+' Rating Affirmed On Proposed Tap; Outlook Remains Negative" Apr 19, 2017. Alacra Store. May 05, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Lowell-And-GFKL-s-Parent-Garfunkelux-Holdco-2-B-Rating-Affirmed-On-Proposed-Tap-Outlook-Remains-Negative-1833816>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Lowell And GFKL's Parent Garfunkelux Holdco 2 'B+' Rating Affirmed On Proposed Tap; Outlook Remains Negative Apr 19, 2017. New York, NY: Alacra Store. Retrieved May 05, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Lowell-And-GFKL-s-Parent-Garfunkelux-Holdco-2-B-Rating-Affirmed-On-Proposed-Tap-Outlook-Remains-Negative-1833816>
  
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