S&P rates Angel Trains

Standard & Poor's said it assigned corporate credit ratings at long-term A and short-term A-2 to Angel Trains Group Ltd. and Angel Trains International Ltd.

The outlook is negative.

The ratings reflect a market-leading position in the U.K. rail leasing sector, strong operating margin, predictable cash flow and a diversified customer base, according to S&P.

These strengths are partly offset by higher business risk, the agency said.

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