Friday, December 2, 2016

Fitch Revises Phoenix's Outlook to Positive; Affirms IDR at 'BB'

(The following statement was released by the rating agency)

LONDON, December 02 (Fitch) Fitch Ratings has revised

Germany-based

pharmaceuticals wholesaler Phoenix Pharmahandel GmbH & Co KG's

(Phoenix) Outlook

to Positive from Stable while affirming the group's Long-Term

Issuer Default

Rating (IDR) at 'BB'. Fitch has also affirmed the ratings on the

bonds issued by

Dutch finance company, Phoenix PIB Dutch Finance. B.V., at 'BB'.

The revision of the Outlook to Positive reflects Fitch's view

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