Moody’s: Domestic & General view positive

Moody's Investors Service said it affirmed Galaxy Finco Ltd.’s (Domestic & General Group Ltd.) B2 corporate family rating, B1-PD probability of default rating and the instrument rating of B2 for the £200 million senior secured notes, and the £175 million senior secured floating-rate notes, both issued by Galaxy Bidco Ltd., and B3 instrument rating on the £125 million senior notes, issued by Galaxy Finco.

The outlook was changed to positive from stable.

"The change in outlook to positive from stable has been triggered by D&G's solid current trading in the nine months to December 2015 and gradual improving operating margins resulting in Moody's adjusted gross leverage ratio to reduce to 5.5x," says Pieter Rommens, Moody's lead analyst for Domestic & General, said in a news release.

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