| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers A > Headlines for Arrow Global > News item |
Moody’s upgrades Arrow Global
Moody's Investors Service said it upgraded Arrow Global Finance plc's £220 million senior secured bond to B1 from B2.
The agency also upgraded the corporate family rating of Arrow Global Group plc and its subsidiaries to B1 from B2.
The outlook is stable.
Moody's said the upgrade reflects its view that the company's financial fundamentals have substantially improved over the past 18 months. The agency believes that Arrow's financials are sufficiently robust at the B1 rating level to withstand some deterioration. Such a deterioration of Arrow's financial metrics could come from the proposed acquisition of Capquest (not rated), a UK consumer debt purchaser and outsourced collection provider, for a total consideration of £158 million. The transaction was announced on Sept. 24 and it is expected to receive final approval by the end of 2014.
© 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.