| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers A > Headlines for Amigo Loans Ltd. > News item |
S&P affirms Amigo on tap issue
S&P said it affirmed the B+ long-term issuer credit rating on Amigo Loans Ltd.
The outlook is stable.
The agency also said it affirmed the B+ issue rating and 4 recovery rating on the senior secured notes issued by wholly owned subsidiary Amigo Luxembourg SA.
This indicates 30% to 50% expected default recovery.
Amigo's proposed £75 million tap of its existing £325 million senior secured notes does not affect the ratings or the company's highly leveraged financial risk profile, S&P said.
This is because S&P said it expects that the group's earnings capacity will continue to steadily increase, combined with a deceleration in the growth of its loan book, leading to improving credit metrics in the next 12 months.
The agency said it expects the company's gross debt-to-EBITDA to trend toward the middle of the 5x to 6x range, from 5.7x in 2017.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.