Fitch gives BB IDR to Russell Investments

Fitch Ratings said it assigned a long-term issuer default rating of BB to Russell Investments Cayman Midco, Ltd.

The outlook is stable.

The agency also affirmed and withdrew the BB long-term issuer default rating on Emerald Acquisition Ltd.

The actions following a reorganization of the company's overall corporate structure to optimize its regulatory capital requirements and tax jurisdictions.

The existing BB ratings assigned to the debt issued by Russell Investments' subsidiaries are unaffected.

Fitch said the long-term issuer default rating is equalized with the existing issuer default ratings assigned to Russell Investments U.S. Institutional Holdco, Inc. and Russell Investments U.S. Retail Holdco Inc. and reflects that all management fee streams flow into Russell Investments and allow it to meet its guarantee obligations to its debt-issuing subsidiaries.

© 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.