RPT-Fitch 50 Europe: Detailed Profiles of Top 50 HY/Crossover Names, July 2013 Edition
July 3 (Reuters) - (The following statement was released by the rating agency)
The latest 'Fitch 50 Europe' report contains detailed credit profiles for 50 of Europe's most significant high yield and cross-over issuers, representing the broad range of components making up the Bank of America Merrill Lynch European High-Yield Index.
The report contains credit commentary and debt structure charts for all 50 constituents of the Fitch 50 Europe. This second edition of the report also covers Fitch's view on evolution of the European high yield market over the past six months and some key Fitch methodologies that help understand how Fitch rates these issuers such as parent/subsidiary linkage, distressed debt exchange, hybrids, holdco PIK and shareholder loan and recovery ratings.
Featured issuers across a full range of sectors include: Peugeot SA, Renault SA ,Fiat SpA, Continental AG, Schaeffler AG; ArcelorMittal S.A. , Lafarge SA, HeidelbergCement AG, UPM-Kymmene Oyj, Stora Enso Oyj, Smurfit Kappa Group plc ; Fresenius SE & Co. KGaA, Phoenix Pharmahandel GmbH & Co. KG, Four Seasons Healthcare (Jersey) Holdings, Priory Group, Labco SA ; Virgin Media Inc.,Cableuropa SA, Unitymedia KabelBW GmbH , Ziggo NV, Sunrise Communications Holdings SA, Telenet NV, and Wind Telecomunicazioni SpA.
The Fitch 50 Europe also incorporates emerging market constituents, including OAO Severstal, Evraz Group SA, Metinvest BV, OJSC Alrosa , and Afren plc, as well as cross-over names with split 'BBB-'/'BB+' ratings across the three major rating agencies, including ThyssenKrupp AG and Daily Mail and General Trust plc. The 'Fitch 50 Europe: Profiles for 50 of the Largest European High-Yield and Crossover Issuers' is available at www.fitchratings.com.
For availability of hard copies of the 199-page report, investors registered with Fitch's High Yield initiative should contact Sabih Hussain at firstname.lastname@example.org.
Link to Fitch Ratings' Report: Fitch 50 Europe
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