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S&P rates Motor Fuel Group notes B
S&P said it assigned its B issue rating to the planned £400 million of senior secured bond to be issued by CD&R Firefly Bidco plc. The issuer is an intermediate holding company and a core subsidiary of CD&R Firefly 4 Ltd., the holding company of the Motor Fuel Group.
The rating aligns with those on the issuer’s outstanding senior secured debt.
The notes are the final segment of a £1.6 billion debt raise aimed at financing the acquisition of Morrisons' fuel forecourts. Before this, two facilities, B6 and B7, totaling £1.2 billion were arranged.
The outlook is stable.
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