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Fitch rates Travis Perkins notes BBB-
Fitch Ratings said it gave Travis Perkins plc’s planned £250 million of senior unsecured notes an expected rating of BBB-.
“The rating is aligned with Travis Perkins’ long-term issuer default rating (IDR) and existing senior unsecured notes’ rating,” Fitch said in a press release.
The proceeds will be used for general corporate purposes. “Fitch expects the proceeds to be mostly used for the repayment of £250 million notes that mature in September 2021 and to result in only a temporary increase in gross leverage if these existing notes are held to maturity,” the agency said.
The outlook is stable.
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