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Fitch ups Rolls-Royce & Partners Finance
Fitch Ratings said it upgraded Rolls-Royce & Partners Finance Ltd.'s long-term issuer default rating to BB from BB-.
The outlook is positive.
Fitch has also affirmed the company’s short-term issuer default rating at B and Rolls-Royce & Partners Finance and RRPF Engine Leasing Ltd.'s senior secured debt long-term ratings at BBB-.
The actions follow the upgrade of Rolls-Royce & Partners Finance’s 50% owner, Rolls-Royce plc, to BB from BB-.
“RRPF's IDRs are based on Fitch's assessment of the company's standalone creditworthiness, but the ratings are constrained by the strong correlation between RR and RRPF's risk profiles,” the agency said in a news release.
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