Fitch downgrades Towergate bonds
Fitch Ratings has downgraded Towergate’s senior bonds owing to a slow turnaround in the business.
The £425m senior secured notes, due 2020, have been downgraded from ‘B' to ‘B-' by the ratings agency. Fitch affirmed its ‘B-' rating for Towergate's £75m super senior secured notes.
"Over the last
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