8th Oct 2018 13:19
LONDON (Alliance News) - Property investment and development business Derwent London PLC said Monday that Fitch Ratings has assigned a long-term issuer default rating of A-.
Furthermore, the credit rating agency assigned Derwent a senior unsecured debt rating of A.
Following the new rating, Standard & Poor's were requested to withdraw their BBB+ long-term and A-2 short-term credit ratings.
Meanwhile, the company's unit London Merchant Securities Ltd senior secured bonds 2026 became unrated. Fitch has been asked to provide a credit rating for the bonds and the company expects them to do so within seven days.
Derwent London shares were trading up 0.7% at 2,803.00 pence each.
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