Fitch lowers EG Group

Fitch Ratings said it downgraded EG Group Ltd.'s long-term issuer default rating to B- from B. The outlook is stable. Fitch also downgraded EG's senior secured rating to B from B+, second-lien rating to CCC from CCC+ and EG Global Finance plc's senior secured rating to B from B+.

“The downgrade of the IDR is driven by slower than anticipated deleveraging to a level consistent with a B rating, amid the impact of the coronavirus outbreak, following a period of successive mainly debt-funded acquisitions,” said Fitch in a press release.

The outlook is stable.

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