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Prospect News home > News index > List of issuers P > Headlines for Pinewood Group Ltd. > News item
Published on 9/9/2019 in the Prospect News Investment Grade Daily.

Fitch assigns Pinewood notes BBB

Fitch Ratings said it assigned an expected BBB rating to Pinewood Finco plc's proposed benchmark secured bond guaranteed by Pinewood Group Ltd.

Proceeds will be used to prepay Pinewood Finco plc's existing £250 million secured bond and fund a £234 million shareholder distribution after paying financing fees and transaction costs.

The agency put Pinewood’s long-term issuer default rating on ratings watch positive.

The rating action reflects the transformation of Pinewood's business profile following the recent signing of two long-term leases with the Walt Disney Co. and Netflix.


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