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Prospect News home > News index > List of issuers F > Headlines for Falcon Group Holdings (Cayman) Ltd. > News item |
Fitch rates Falcon loan BB-
Fitch Ratings said it assigned an expected BB-/RR3 rating to Falcon Group Holdings (Cayman) Ltd.'s forthcoming $250 million five-year senior secured term loan B. The company’s long-term issuer default rating remains B+.
The proceeds of the loan are expected to be used to diversify and extend Falcon's funding profile, expand the balance sheet, broaden its client base and product offering and support international growth.
The agency said Falcon's issuer default rating reflects its evolving governance structure, adequate financial profile, niche but expanding franchise and undiversified business model.
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