December 10, 2012 / 10:59 AM / in 5 years

TEXT-S&P summary: CRC Breeze Finance S.A.

(The following statement was released by the rating agency)

Dec 10 -


Summary analysis -- CRC Breeze Finance S.A. ----------------------- 10-Dec-2012


CREDIT RATING: None. Please see issue list. Country: Luxembourg

Primary SIC: Special Purpose




The long-term debt rating on the EUR300 million class A senior secured amortizing notes, issued by CRC Breeze Finance S.A. (Breeze Two), is ‘B-'. The long-term debt rating on the EUR50 million class B subordinated notes, also issued by Breeze Two, is ‘C’. The outlook on both types of debt is stable.

In addition, Breeze Two has EUR120 million of class C notes (not rated) outstanding, which rank below the class A and B notes. The class A and C notes mature in 2026, whereas the B notes mature in 2016.

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