Fitch rates Albion BB-

Fitch Ratings said it assigned Albion HoldCo Ltd. an expected long-term issuer default rating of BB-. Fitch also gave the senior secured debt issued by Albion Financing 1 Sarl expected BB+/RR2 ratings, the senior secured term loan B issued by Albion Financing 3 Sarl expected BB+/RR2 ratings and the senior unsecured debt issued by Albion Financing 2 Sarl expected BB-/RR4 ratings.

Albion HoldCo is the issuer and new acquiring company of U.K.-based temporary power and energy supply provider, Aggreko plc.

“The ratings reflect the company's strong market share in the global temporary power and energy services sector, which supports its resilient and strong profitability. The company also benefits from wide geographical and end-customer diversification, with its largest revenue contribution coming from North America. This mitigates exposure to any volatility in respect to any particular sector or customer,” Fitch said in a press release.

The outlook is stable.

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