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S&P rates Cabot notes BB
Standard & Poor's said it assigned its BB- long-term counterparty credit rating to Cabot Financial Ltd. The agency said it also assigned a BB issue rating and 2 recovery rating to the proposed £265 million senior secured term notes to be issued by Cabot's wholly owned subsidiary, Cabot Financial Luxembourg SA.
The outlook on Cabot Financial is stable.
S&P said its ratings on Cabot Financial reflect the credit profile of the consolidated group and the agency's view that its main operating subsidiary, Cabot Financial (UK) Ltd., is core to the group.
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