Latest Share Chat

SIG.L Share News (SIG)

SIG.L Information

There is currently no data for SIG

Moody's Places Signature Aviation's Ratings On Review For Downgrade

Fri, 22nd Jan 2021 18:04

(Alliance News) - Moody's Investors Service on Friday has placed the ratings of aviation services company Signature Aviation PLC on review for downgrade.

This includes the corporate family rating of Ba3, the probability of default rating of Ba3-PD, and the Ba3 ratings of the USD650 million backed senior unsecured notes due 2028, and USD500 million backed senior unsecured notes due 2026.

The outlook has changed to ratings under review from negative, the ratings agency said.

The rating action reflects the announcement of a recommended cash offer by GIP IV Hancock Bidco LP, a partnership controlled by Global Infrastructure Partners, for the entire share capital of Signature Aviation.

Moody's said the review reflects the uncertainties over whether the acquisition will result in changes to Signature Aviation's business, financial or liquidity profile.

The review will be focusing on the possible financial arrangements following the acquisition, Bidco's overall financial policy in relation to leverage and dividend distributions, and its wider strategy for the business, Moody's highlighted.

Signature Aviation shares closed 0.2% higher in London on Friday at 426.00 pence each.

By Evelina Grecenko; evelinagrecenko@alliancenews.com

More News

9 Sep 2009 14:22

London afternoon: Market in holiday mood

Footsie made an assault on the 5,000 level over the lunchtime session but fell short, as investors took note of expectations of a flat start on Wall Street. With mergers and acquisition activity back on the agenda British Airways is in demand on hopes of a swift conclusion to its team-up with Spani

9 Sep 2009 13:09

Low diamond price helps Signet sparkle

Lower diamond prices and cost-cutting measures to fight off the downturn helped jewellery retailer Signet post a rise in profits in the quarter to August 1. The firm, which operates Ernest Jones and H Samuel in the UK and Kay and Jared in the US, posted a pre-tax profit of $38.5m, compared with $30

8 Sep 2009 13:56

London afternoon: Holiday stocks take flight

After opening brightly London's leading shares have been treading water since the middle of the morning. Kazakhmys, Antofagasta, Rio Tinto, Xstrata and Vedanta Resources lead the mining sector higher, as metal prices improve. Gold miner Randgold Resources is wanted after the price of gold bullio

8 Sep 2009 11:56

London midday: Gold shines to push Footsie higher

Gold pushing through the $1,000 per ounce mark has helped Footsie post decent gains in the morning session with miners generally in demand again. Kazakhmys, Antofagasta, Rio Tinto, Anglo American, Xstrata, Randgold Resources and Vedanta Resources lead the mining sector higher. It is third time that

8 Sep 2009 08:40

London open: Footsie still on the rise

London's blue chips are on the rise again this morning ahead of Wall Street's return following Monday's public holiday. Kingfisher is going well after it mistakenly circulated some draft figures on Monday afternoon. That has foreced the DIY retailer to admit this morning that adjusted pre-tax profi

20 Aug 2009 14:31

FTSE 250 movers: SIG climbs despite profit fall

SIG is one of the top risers even after the building products group posted a sharp fall in profits as weakness in the construction market persisted into the first half of 2009. On the positive side, the firm said the new build housing segment had shown some modest signs of stabilising. Wellstream,

10 Jul 2009 07:25

Weak construction market hits SIG

Building products supplier SIG saw a 10% fall in sales in the half year to June 30 as it continued to feel the impact of the depressed construction market. In the second half of June sales were stable 'without exhibiting the level of seasonal pickup in activity which typically manifests itself from

23 Jun 2009 15:36

Ryanair chairman offloads shares

Ryanair's chairman David Bonderman has sold more than €1m worth of shares in the company. He offloaded 300,000 shares at €3.35 a time. Ryanair said that this amounts to about 0.02% of the company and that Bonderman now has about 0.93%. News of the share sale comes on the same day Ryanair said it

Latest Share Chat

SIG.L Share News (SIG)

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Moody's Places Signature Aviation's Ratings On Review For Downgrade

Login to your account

Quickpicks are a member only feature

Login to your account