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S&P revises Zephyr Midco 2 view to positive
S&P said it revised its outlook on the long-term issuer credit rating on Zephyr Midco 2 Ltd. to positive from negative and affirmed the rating at B-.
The issue ratings on the revolving credit facility and first-lien term loan facilities remain unchanged at B-.
“The parent of property and online household services group ZPG, Zephyr Midco 2 Ltd., is launching a process to extend its debt maturities by three years to 2028. We think the proposed transaction will address refinancing risks and allow some deleveraging thanks to a £110 million common equity injection from shareholders,” S&P said in a news release.
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