Fitch rates Rothesay’s £500m Tier 2 notes BBB+
Fitch expects the issue to increase Rothesay’s financial leverage and reduce fixed-charge coverage, while leaving both measures inside the company’s current...
Fitch Ratings has assigned a ‘BBB+’ rating to £500m of subordinated Tier 2 notes issued by Rothesay Life Plc, the insurance operating company of Rothesay Limited. Rothesay issued the notes under its £3bn euro medium-term note programme; they carry a fixed coupon and a 10.5-year maturity, with a first call date in September 2036. The proceeds are being used for…
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