Moody's assigns Ashtead notes Baa3

Moody's Investors Service said it assigned a Baa3 rating to Ashtead Capital, Inc.'s planned benchmark-sized senior unsecured dual-tranche notes.

Parent company Ashtead Group plc's Baa3 issuer rating and Ashtead Capital, Inc.'s Baa3 rating on its notes remain unchanged, Moody’s said.

Proceeds will be used to tender its $1.2 billion of senior notes due 2025 and 2026.

The outlook is stable.

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