Moody’s rates Burford notes Ba2

Moody’s Investors Service said it assigned a Ba2 rating to Burford Capital Global Finance LLC’s planned senior unsecured notes.

The agency concurrently affirmed the ratings for Burford Capital Ltd. and the Ba2 backed long-term senior unsecured ratings of subsidiaries Burford Capital Finance LLC, Burford Capital plc and Burford Capital Global Finance and revised the outlook to positive from stable.

“Moody's revised Burford's outlook to positive from stable based on expectations for the company's continued strong performance, sector-leading competitive positioning and low leverage, which combined will likely strengthen the company's credit profile over the next 12-18 months.

“Burford's credit challenges include higher earnings and cash flow volatility than most finance companies due to the unique risk and return profile of its niche litigation finance investments, its significant unfunded investment commitments and the liquidity risks accompanying its less-predictable cash flows,” the agency said in a press release.

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