S&P rates Mizzen Mezzco notes B

Standard & Poor's said it assigned its B long-term counterparty credit rating to Mizzen Mezzco Ltd.

The outlook is stable.

S&P also assigned a B issue rating to the proposed £200 million senior notes to be issued by the group's wholly owned subsidiary, Mizzen Bondco Ltd.

S&P said its ratings on Mizzen Mezzco reflect a view of the company's relatively narrow profile as a specialist U.K. instalment credit lender. The ratings also incorporate S&P's view that leverage, by S&P's metrics, is high.

The ratings are supported by S&P's view that Mizzen Mezzco will continue to produce relatively predictable, recurring earnings, and that it has a well-established market position in its chosen business segment.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.