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Prospect News home > News index > List of issuers T > Headlines for Together Financial Services Ltd. > News item
Published on 10/5/2023 in the Prospect News High Yield Daily.

Fitch lifts Together Financial

Fitch Ratings said it upgraded Together Financial Services Ltd.’s long-term issuer default rating to BB from BB-. The outlook is stable.

Fitch also upgraded the senior secured notes issued by subsidiary Jerrold FinCo plc (FinCo) and guaranteed by Together to BB from BB-, and the £380 million senior PIK toggle notes, maturing in 2027 and issued by Together's indirect holding company Bracken Midco1 plc (Midco1), to B+ from B, with a Recovery Rating of RR6.

“The upgrades principally reflect Together's sound financial performance in the financial year to end-June 2023 (FY23). Amid a rising interest rate environment, it indicates resilience in its business profile commensurate with a BB rating,” Fitch said in a news release.


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