Fitch shifts Ashtead view to stable

Fitch Ratings said it revised Ashtead Group plc's outlook to stable from negative and affirmed the BBB- issuer rating. Fitch also affirmed the senior notes issued by Ashtead Capital, Inc. and guaranteed by Ashtead at BBB-.

“The revision of the outlook reflects the resilience of Ashtead's EBITDA to the pandemic and the effectiveness of management's accompanying actions in managing free cash flow and leverage,” the agency said in a press release.

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