Fitch cuts Greene King

Fitch Ratings said it downgraded Greene King Finance plc’s class A, class AB and class B notes by one notch to BBB, BBB- and BB+.

“The rating action reflects our expectation that the credit profile and free cash flow debt service coverage ratios (FCF DSCRs) will continue to be negatively impacted by a severe demand shock related to the coronavirus pandemic,” Fitch said in a press release.

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