Fitch rates Trinity notes BBB

Fitch Ratings said it assigned a senior unsecured debt rating of BBB to Trinity Acquisition plc’s new issues of $450 million 3.5% senior notes due Sept. 15, 2021 and $550 million 4.4% senior notes due March 15, 2026.

Trinity is an indirect wholly owned subsidiary of Willis Towers Watson plc.

The agency expects Willis Towers to use the net proceeds to repay borrowings under bank credit facilities.

Fitch upgraded Willis Towers’ ratings on Jan. 6 following the announcement that the merger of Willis Group Holdings and Towers Watson & Co. (TW) was completed.

© 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.