Fitch assigns BBD Parentco B rating

Fitch Ratings said it assigned BBD Parentco Ltd. (BCA) a first-time expected long-term issuer default rating of B.

Fitch has also assigned a senior secured rating of B+/RR3 to first-lien debt facilities issued by BBD Bidco.

“BCA’s B rating is supported by the company's robust business model with market-leading positions as an integrated auto service provider in the U.K. and Europe. Its central position in the used car value chain provides multiple sources of fee income with limited price risk and strong underlying free cash flow generation,” Fitch said in a press release.

The outlook is stable.

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