Fitch affirms and withdraws People’s Leasing and Finance IDRs

Saturday, 27 June 2020 00:00 - - {{hitsCtrl.values.hits}}

Fitch Ratings has affirmed and withdrawn People’s Leasing and Finance PLC’s (PLC) Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) of ‘B-’. The Outlook is Negative.

The affirmation of PLC’s IDRs reflects that there have been no material changes from Fitch’s previous review on 10 June. This rating action does not affect PLC’s National Long-Term Rating of ‘A+(lka)’/Stable and the National Long-Term Rating of PLC’s senior unsecured debentures at ‘A+(lka)’.

Fitch said it chose to withdraw PLC’s IDRs for commercial reasons.

It said there has been no material change in PLC’s credit profile since the previous rating action on 10 June.

Rating sensitivities for the IDR are no longer relevant as the ratings have been withdrawn