| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers O > Headlines for Old Mutual plc > News item |
Fitch rates Old Mutual debt BBB
Fitch Ratings said it assigned Old Mutual plc's senior debt issue a rating of BBB in line with the insurer's existing senior debt.
The proceeds of the £500 million senior debt issue are expected to be used to refinance the company's €100 million senior debt maturing in December 2009 and for general corporate purposes, Fitch said.
The debt was issued under the company's €3.5 billion euro note program and is fixed-rate with a semi-annual coupon rate of 7.125% and a term of seven years.
Fitch said it expects the company's interest coverage and equity-adjusted leverage ratios to remain at levels commensurate with the group's ratings.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.