RAC Bonds receive Ratings Upgrade
22 APR 2021
RAC BOND CO PLC
(a public limited company incorporated in England and Wales with registered no. 10084638)
(the “Issuer”)
THIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT QUALIFIED OR MAY HAVE QUALIFIED AS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE 7(1) OF THE MARKET ABUSE REGULATION (EU) 596/2014.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION TO ANY U.S. PERSON (AS DEFINED BELOW) OR IN OR INTO THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA) (together, the United States) OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.
NOTICE
to the holders of
£300,000,000 Fixed Rate Class A Senior Secured Notes due 2046
(ISIN XS1404980846)
and
£600,000,000 Fixed Rate Class A Senior Secured Notes due 2046
(ISIN XS1404981141)
(together, the “Class A Notes”)
and
£275,000,000 Fixed Rate Class B Senior Secured Notes due 2046
(ISIN XS1645523579)
(the “Class B Notes”)
22 April 2021
S&P Global Ratings publishes rating upgrade
The Issuer is pleased to announce that S&P Global Ratings (“S&P”) has today upgraded the long-term issue credit rating it assigns to the Class A Notes from BBB- (sf) to BBB (sf) (the “Ratings Upgrade”). The Issuer is pleased to announce that S&P has today also upgraded the long-term issue credit rating it assigns to the Class B Notes from B (sf) to B+ (sf).
Pursuant to the Ratings Upgrade, the Issuer and the Obligor Security Trustee have agreed amendments to the provisions of the Common Documents so as to increase certain minimum required ratings criteria from BBB- to BBB (capitalised terms as defined in each relevant prospectus relating to the Notes).
Jo Baker, Chief Financial Officer, commented, “We welcome this ratings upgrade from S&P. Coming on the back of record financial results representing our ninth consecutive year of earnings growth, this once again underlines the strength and resilience of the RAC as a business.”.
This announcement has been issued through the Company Announcements Office of Euronext Dublin
For Investor enquiries, please contact:
Bruce Claassen, Group Finance Director [email protected]
For Media enquiries, please contact:
Rod Dennis, Press Officer [email protected]
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