Fitch upgrades Rolls-Royce

Fitch Ratings said it upgraded Rolls-Royce plc's long-term issuer default rating and senior unsecured rating to BB from BB-.

The outlook on the IDR is positive. The recovery rating is RR4.

“The upgrade reflects Rolls Royce's improvement in key credit metrics including profitability, free cash flow (FCF) generation and leverage to levels above the previous upgrade sensitivities, which we believe are sustainable,” Fitch said in a news release.

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