Moody’s upgrades Arrow Global to Ba3

Moody's Investors Service said it upgraded Arrow Global Group plc’s corporate family rating to Ba3 from B1.

The agency also upgraded the ratings of the backed senior secured notes issued by Arrow Global Finance plc, a wholly owned subsidiary of Arrow, to Ba3 from B1.

The outlook is stable.

Moody’s said the upgrade reflects its view that Arrow's franchise and credit fundamentals have materially improved over the past two years and are now consistent with a Ba3 rating. The agency expects Arrow to continue to maintain its strong earnings generation capacity and debt leverage at current levels going forward.

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