Fitch affirms Abans

Fitch Ratings said it affirmed Abans plc's national long-term rating at BBB+(lka) with a stable outlook.

The agency said the affirmation reflects a view that Abans will continue to make meaningful progress towards improving its net leverage, defined as lease-adjusted debt net of cash/operating EBITDAR, to around 6x by the end of the financial year to March 31, 2019.

“We expect this to be supported by a recovery in profitability because the company will be better able to pass through costs to customers, as well as operating efficiencies and moderating capex and investments,” Fitch said in a news release.

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