Leading provider of credit ratings Moody’s recently increased Safilo’s rating from B2 to B1. The reason was the successful placement by Safilo of “bonds” worth 150 million euro as part of a larger refinancing of the company’s debts. In total Safilo will refinance 300 million euro. The “bonds” might be transferred into shares once agreed by the general meeting of shareholders. Major shareholder Multibrands Italy already announced to vote in favour of this decision. The total transaction increases Safilo’s financial options for the next years and diminishes its debts.
