S&P reinstates GetBack's ratings, lowers it to 'D/D'

Capitea SA

18/05/2018 07:38

May 18 (Reuters) - Ratings agency Standard & Poor's on
Thursday reinstated its 'B/B' long- and short-term credit
ratings on Poland-based GetBack SA  GBK.WA  and lowered them to
'D/D', considering the company to be in a general default.
    "We note that the promptness of the possible restructuring
agreement might be crucial for GetBack's survival, given the
potential for rapid value deterioration of its main asset,
distressed debt," S&P said in a statement.
    The company's ratings will not be raised until it resumes
payments on its obligations, S&P said. 
    

 (Reporting by Abinaya Vijayaraghavan in Bengaluru; Editing by
Bernard Orr)
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