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Fitch upgrades Ashtead
Fitch Ratings said it upgraded Ashtead Group plc's long-term issuer default rating to BBB from BBB-. Fitch also raised the senior notes issued by Ashtead Capital, Inc. that are guaranteed by Ashtead to BBB from BBB-.
“The upgrade reflects principally the strength of Ashtead's trading performance over the course of the pandemic, which has led Fitch to reassess positively the breadth and resilience of its business model,” the agency said in a press release.
The outlook is stable.
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