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Fitch rates Very Group notes B-
Fitch Ratings said it gave the Very Group Funding plc's planned £575 million of senior secured notes an expected rating of B- with an RR4 recovery rating.
Very Group intends to use the proceeds in a refinancing. “The planned refinancing will only result in small re-leveraging of the capital structure by £25 million with a minor impact on our forward-looking leverage metrics,” Fitch said in a press release.
The agency also affirmed the Very Group Ltd.’s long-term issuer default rating at B-, and the outlook remains positive.
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