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Moody's eyes Owl Finance for upgrade
Moody's Investors Service said it placed all its ratings Owl Finance Ltd., including the Ca corporate family rating and the C-PD probability of default rating, on review for upgrade.
Moody's also appended a limited default (LD) designation to Owl Finance’s C-PD probability of default rating as it views the company's debt restructuring transaction as a distressed exchange. The LD designation will be removed in three business days.
“The action follows the company's announcement on March 30, that it has successfully completed its planned debt restructuring transaction that led to a reduction in company's debt from £214 million to £65 million,” the agency said in a press release.
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