Towergate to benefit from "first mover advantage," claims Fitch
Fitch Ratings has affirmed the long-term issuer default rating of Towergate Finance at 'B'. The outlook is stable.
The ratings agency has also assigned Towergate's proposed £280m senior secured notes due 2018 and £160m term loan B an expected rating of 'BB(exp)' and an expected recovery rating of 'RR1(exp)'.
It
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