Fitch trims GreenSquareAccord

Fitch Ratings said it downgraded its ratings on GreenSquareAccord Ltd.'s (GSA) and its senior secured notes to A- from A.

“The downgrade reflects the deterioration in GSA's financial position. GSA's rating is driven by its stand-alone credit profile (SCP), which we have revised to bbb+ from a-. The SCP reflects 'stronger' revenue defensibility, operating risk and a 'midrange' financial profile. Fitch views GSA as a government-related entity (GRE) of the U.K. (AA-/negative),” the agency said in a press release.

The outlook is stable.

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