Fitch revises Together view to stable

Fitch Ratings said it revised the outlook on Together Financial Services Ltd. to stable from negative and affirmed the issuer rating at BB- and the senior secured notes issued by subsidiary Jerrold FinCo plc and guaranteed by Together at BB-.

The agency also affirmed the £368.2 million of senior PIK toggle notes, maturing 2023 and issued by Together's indirect holding company Bracken Midco1 plc at B.

“The outlook revision reflects the more stable U.K. economic backdrop, improvements in Together's liquidity and earnings profiles, and its success over the past year in developing its funding base,” Fitch said in a press release.

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