Ratings boost for Towergate
Moody’s considers upgrade for recently sold broker.
Ratings agency Moody's has placed Towergate Finance senior secured notes and revolving credit facility under review to upgrade its current Caa rating.
Moody's said this rating action follows Towergate's announcement on 6 February 2015 that it has entered into a binding agreement with its senior secured and senior unsecured creditors to implement a financial restructuring and recapitalisation of the group.
As previously reported under the terms of the joint agreement, senior secured creditors
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