Fitch cuts Brake Bros view to stable

Fitch Ratings said it changed Brake Bros Acquisition plc's senior unsecured rating outlook to stable from positive following the release of its second-quarter 2005 results.

The agency has also affirmed Brake Bros Acquisition plc's senior unsecured rating at B and the rating for its senior secured debt at BB-. The short-term rating is affirmed at B.

At the same time, Fitch has affirmed Brake Bros Finance plc's £105 million 12% senior notes and the €105 million 11.5% senior notes, both due 2011, at B-.

"The change in outlook to stable reflects Fitch's view that an upgrade of the rating in the near term is less likely following a decline in profitability and significant negative cash flow generation in H105," said Stefano Podesta, director in Fitch's Leveraged Finance Group.

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