Rating agency Standard & Poor have confirmed that the change in ownership to Oaktree Capital has had “no repercussions” on the bond of Inter Milan.

The agency made a press release, via FCInterNews. They make clear that the situation that led to the new owners taking over from prior owners Suning will have no effect on the bond of Inter itself.

Last month, Oaktree became the new owners of Inter.

The US-based fund repossessed the shares of previous owners Suning. This followed the default on a loan to the Chinese company from the spring of 2021.

Oaktree had made a loan to Suning worth 275 million at that time.

That loan was to cover the losses at Inter during a financial crisis that had emerged due to a loss of revenues during the start of the COVID-19 pandemic.

In order to secure the loan from Oaktree, Suning had put their controlling stake in Inter up as collateral.

Therefore, Suning had to either pay back the full amount they owed to Oaktree including interest – totalling €395 million – or else control of Inter could pass into the hands of the US fund.

Suning failed to do so before the due date last month. Therefore, Oaktree took over as owners.

And yesterday, the fund put a new board of directors in place to complete the takeover.

S&P: Oaktree Ownership Has No Effect On Inter Milan Bond

Naturally, this upheaval at the top has raised one or two questions about the broader ramifications on Inter, financially and at the corporate level.

This includes the debt situation at the club.

Inter have significant gross debt. And they currently have a bond worth 415 million, which matures in 2027.

But as rating agency Standard & Poor make clear, the bond had nothing to do with the debt that Suning had to Oaktree.

Therefore. the rating for the bond is not effected by Suning’s failure to pay back Oaktree.

Nor does the arrival of the fund as new owners impact the status of the bond in any way.

As far as S&P analyze, the rating for Inter’s bond remains a stable B.