S&P gives Ashtead notes BBB-

S&P said it assigned its BBB- long-term issue rating to the planned benchmark dual tranche senior unsecured notes, to be issued by Ashtead Capital Inc., a wholly owned financing subsidiary of the Ashtead group.

“Our BBB- long-term issuer credit rating and stable outlook on Ashtead Group plc reflect the company's relatively robust operating performance of late, despite the Covid-19 pandemic,” S&P said in a press release.

The proceeds are expected to be used to redeem its $600 million of notes due 2025 and its $600 million of notes due 2026.

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