03.02.2015 20:23:00

Towergate Finance plc -- Moody's downgrades Towergate's CFR to Ca; senior secured affirmed at Caa2

London, 03 February 2015 -- Moody's Investors Service has today downgraded the Probability of Default Rating (PDR) on Towergate Holdings II Limited by two notches to C-PD and the Corporate Family Rating (CFR) by one notch to Ca. The senior unsecured notes issued by Towergate Finance plc were also downgraded by one notch to C and the senior secured instruments were affirmed at Caa2. The PDR, CFR and long-term debt ratings all have a stable outlook.

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