Fitch lifts Ascential to BB-

Fitch Ratings said it reassigned Ascential Holdings Ltd.’s issuer default rating of B to Ascential plc and upgraded it to BB-.

This follows the reorganization of the company in conjunction with the completion of its initial public offering (IPO).

The outlook on the issuer default rating is stable.

At the same time, the agency withdrew the instrument ratings on the company's recently repaid bank debt.

Fitch said the upgrade takes into account the materially improved capital structure of the group following the recent IPO and refinancing of the company's bank debt facilities. The agency is treating the reduced level of debt in the group structure as a permanent realignment of its intended financial policy.

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