Archroma has drawn up a guaranteed financing contract which foresees lines of credit for a total of about 515 million dollars. The credit is made up of a 75 million dollar revolving multi-currency credit facility, a long-term guaranteed senior loan of 220 million dollars and a senior term guaranteed financing for 200 million euros. The new lines of credit will be used to refinance Archroma’s existing debt, as well as to support the purchase, announced on 1st July 2014, of the chemical products business for the Basf textile industry.
Moody e Standard & Poor have published their rating for the Archroma group and its new lines of credit. Moody has assigned a B2 rating to SK Spice Tenere Sarl, the parent company of the Archroma group, also giving the same rating for the package of loans and credits. The outlook ratings from Moody are stable. In its report, Moody maintains that the stable outlook reflects the hope that Archroma will maintain suitable liquidity, without problems in integrating the Basf assets and in carrying out its own rationalisation and efficiency programmes on current costs. Standard & Poor have, on the other hand, assigned a preliminary long-term “B” rating, with stable outlook, a SK Spice Tenere Sarl and a “3” rating on recovering long-term loans.