Subordinated Secured Corporate Bond
Outlook: No Trend
Action date: 07/31/2020
Rating action: Affirmed

RESTABELL FRANQUICIAS SL

In 2018, Restabell issued a bond program (subordinated secured) in the MARF with a maximum limit of € 15MM. We highlight the guarantee provided, with the guarantor company presenting a more than adequate capacity to pay the bond under the scenario of Restabell defaulting. We consider adequate the structure of covenants which preserves the value of the bondholders and has a favourable degree of coverage.

Rating

ISIN: ES0305371009
Solicited
Date last rating: 07/31/2020
Date first rating: 07/18/2018