Fitch affirms Russell Investments

Fitch Ratings said it affirmed the BB long-term issuer default ratings and senior secured debt ratings assigned to Russell Investments Cayman Midco, Ltd., Russell Investments U.S. Institutional Holdco, Inc. and Russell Investments Retail Holdco, Inc.

The outlook was maintained at negative.

Fitch said the actions follow Russell Investments' announced intention to increase its secured debt by $300 million. The incremental issuance is expected to be identical in terms of payment priority, maturity and interest rate to the existing $836.1 million of secured debt maturing in June 2023.

Debt proceeds will be used for a one-time dividend distribution to Russell Investments' shareholders.

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