NEW YORK (S&P Global Ratings) June 8, 2021-- S&P Global Ratings today raised its issue-level rating on Samsonite International S.A.'s EUR 350 million 3.5% senior unsecured notes due 2026 to 'B' from 'B-' after the company announced that it repaid $125 million of its senior secured term loan A balance. The company also plans to repay $100 million of its senior secured term loan B balance as part of the repricing transaction for the instrument. We revised the recovery rating on the senior unsecured notes to '4' from '5'. Samsonite also repaid $100 million of its outstanding balance on its $850 million revolving credit facility. The company is utilizing its cash balances to make these payments, lowering the amount of
