Aston Martin - comment

Aston Martin has confirmed that the £50 million additional Committed Facility provided by members of the Yew Tree Consortium has satisfied all closing conditions, including compliance with all relevant listing rules obligations, and is now available to the Company. This facility is essential to maintaining liquidity at Aston Martin. Bond pricing is unlikely to change on the back of this confirmation. 

However, the facility is also the reason Fitch downgraded the Company’s ratings to CCC+, as the Committed Facility ranks senior to existing debt and is secured against a key, previously unencumbered operating asset, thereby reducing recovery prospects for the senior secured notes.

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