Moody’s changes Arrow Global view

Moody’s Investors Service said it affirmed the local and foreign currency senior secured debt ratings of Arrow Global Finance plc at Ba3.

At the same time, the agency affirmed Arrow Global Group plc's Ba3 corporate family rating.

The outlook was changed to negative from stable.

Moody's also withdrew the outlooks on Arrow and Arrow Global Finance's existing instrument ratings for its own business reasons.

The withdrawal has no impact on the issuer-level outlook for Arrow.

The agency said the negative outlook reflects the downside risk that Moody's modelled loss given default rate for Arrow's senior secured debt will not improve sufficiently over the next 12 to 18 months.

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