Fitch downgrades Rolls-Royce, debt to A-

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

The outlook on the long-term issuer default rating is stable.

Fitch said the downgrade reflects its view that Rolls-Royce will achieve a weaker than expected recovery in its key credit metrics such as free cash-flow generation and gross leverage beyond 2016 than was previously anticipated.

Consequently, the company is likely to continue to have a credit profile which is no longer commensurate with the A rating, the agency added.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.