ITALY: S&P assigns AAA preliminary rating to Cremonini's ABS deal
Ratings agency Standard & Poor's has assigned an 'AAA' preliminary rating to the class A €150m (US$137.9m) asset-backed floating-rate notes to be issued by Italian food giant Cremonini. "The collateral backing the notes is a portfolio of trade receivables originated by three subsidiaries in the Cremonini group of companies, an integrated food business domiciled in Italy," said Cian Chandler, ratings analyst at Standard & Poor's Structured Finance Ratings group.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-food gives you the widest food market coverage.
Paid just-food members have unlimited access to all our exclusive content - including 17 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Dean Best, editor of just-food
- US food next wave on display at Winter Fancy Food
- Does Kraft Heinz want to swallow Unilever whole?
- Focus: Nestle CEO plan to balance sales, earnings
- Comment: Meal kits in US - don't believe the hype
- Wessanen eyes growth in "resurgent" organic market
- Unilever launches operational review
- Kraft Heinz pulls Unilever bid
- General Mills issues profit warning
- Kerry operating earnings strengthen on slow sales
- Glanbia focuses on nutrition with Irish dairy spin