| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers A > Headlines for Anglian Water > News item |
Fitch: Osprey BB, bond BB+
Fitch Ratings said it assigned Osprey Acquisitions Ltd. an expected senior secured rating of BB+ and an issuer default rating of BB.
The agency also said it assigned to Anglian Water (Osprey) Financing plc's prospective £250 million bond issue, which is guaranteed by Osprey, an expected senior secured rating of BB+.
The senior secured ratings are contingent on the receipt of final documents.
The outlook is stable.
Anglian Water will raise bonds and bank debt on behalf of Osprey, which acts as the guarantor, Fitch said.
The seven-year bond is to refinance part of Osprey's £450 million bank debt maturing in October 2012, the agency said.
The bond documentation also contains covenants to ensure that the business risk of the group does not materially change by limiting acquisitions and requiring continued ownership of Anglian Water, Fitch said.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.