Moody's gives Burford Capital notes Ba2

Moody's Investors Service said it rated Burford Capital Global Finance LLC's planned senior unsecured notes Ba2. The issuer is a subsidiary of Burford Capital Ltd., which the agency rates Ba2.

“Moody's assigned a backed Ba2 rating to the proposed new senior unsecured notes based on Burford's credit profile as reflected in its Ba2 corporate family rating as well as the notes' senior priority in Burford's overall capital structure. The notes are supported by the unconditional guarantees of ultimate parent Burford as well as affiliates Burford Capital Finance LLC (Ba2 stable) and Burford Capital plc (Ba2 stable) on a senior unsecured basis,” the agency said in a press release.

The proceeds will be used for general corporate purposes potentially including repayment of debt.

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