24-Sep-2024 01:10 HKT

Annual Review For Keter Group B.V.

S&P Global Ratings has performed annual reviews of the credit ratings of this issuer. When applicable, this review would include the review of the issuer’s subsidiaries or associated entities. In an annual review, S&P Global Ratings reviews current c...

11-Jun-2024 16:59 HKT

Keter Payment-In-Kind Notes Assigned 'CCC+' Rating

LONDON (S&P Global Ratings) June 11, 2024--S&P Global Ratings today said it assigned its 'CCC+' issue rating to the €698 million payment-in-kind (PIK) notes due in 2029 issued by Keter Group Holding Ltd., the holding company of Keter Group B.V. (B/St...

01-May-2024 02:46 HKT

Keter Group B.V. Upgraded To 'B' From 'SD' On Implementation Of Debt Restructuring; Outlook Stable

Keter Group implemented its distressed debt exchange transaction on April 29, 2024. The new capital structure reduces the amount of senior secured debt and cash interest burden, and improves the debt maturity profile. The new capital structure, inclu...

30-Apr-2024 02:33 HKT

Keter Group B.V. Downgraded To 'SD' On Lenders Consent To Implement Distressed Debt Exchange

On April 25, 2024, Keter received lenders' consent to implement its capital restructuring, with implementation having taken place on April 29, 2024. The former capital structure comprised of a €1,246 million first-lien term loan B (TLB), a €106 milli...

16-Mar-2024 01:17 HKT

Keter Group B.V. Downgraded To 'CC' On Announced Debt Restructuring; Outlook Negative

Keter Group B.V.'s (Keter's) ownership was transferred to the group's senior lenders after the previously agreed sales process did not result in a transaction that enabled the full redemption of the group's senior facilities. Subsequently, the group ...

07-Sep-2023 22:58 HKT

Keter Group Upgraded To 'CCC+' After Amend And Extend Transaction And Pending Keter Strategic Sale; Outlook Developing

Keter Group B.V. is expected to complete the amend and extend (A&E) transaction of its senior facilities--€102 million revolving credit facility (RCF) and €1,205 million term loan B (TLB)--and €315 million payment-in-kind (PIK) loan shortly. The matu...

16-Mar-2023 01:20 HKT

Keter Group B.V. Downgraded To 'CCC'; Rating Placed On CreditWatch Developing Pending Refinancing

Keter Group B.V. has not yet confirmed a refinancing plan for its €1,205 term loan B (TLB) maturing on Oct. 31, 2023 and its €102 million revolving credit facility (RCF) maturing on July 31, 2023. Completion of the refinancing is uncertain and is tak...

18-Nov-2022 01:54 HKT

Keter Group Downgraded To 'B-'; Placed On CreditWatch Negative Pending Refinancing

According to our current forecasts, Keter will not meet our latest published base case projections for 2022-2023 (dated January 2022) due to the high-cost inflation environment and recessionary pressures. We now expect S&P-Global Ratings-adjusted cre...

17-Jan-2022 16:56 HKT

Branded Durable Consumer Products Company Keter Upgraded To 'B' On Continued Deleveraging; Proposed Debt Rated 'B'

Keter Group B.V. announced on Jan. 10, 2022, its intention to refinance its capital structure and add additional cash on its balance sheet with a new €1.175 billion term loan B and €150 million revolving credit facility (RCF). The transaction will ex...

10-Sep-2020 16:38 HKT

Consumer Plastics Producer Keter Upgraded To 'B-' On Improved Cash Flow And Performance; Outlook Stable

Keter Group B.V. (Keter) has achieved better-than-expected operational performance over the past six months, thanks to its effective turnaround plan and the overall stable demand for its products during the COVID-19 pandemic. For 2020 and 2021, we no...