Credit ratings and debt information
Current credit ratings for Ashtead Group plc are set out in the table below:
|Standard & Poor's|
|Long term||BBB-||(stable outlook)|
|Long term||Baa3||(stable outlook)|
|Long term||BBB-||(negative outlook)|
Funding and liquidity
|Available finance||Facilities available||Maturity|
|Asset-based first priority secured bank debt||$4,100m||2023|
* Pro-rata draws under incremental $500m.
|Issue Principal||Coupon||Maturity||Amount in issue||Coupon date*|
|$600m||4.125%||2025||$600m||15 February / 15 August|
|$600m||5.25%||2026||$600m||1 February / 1 August|
|$600m||4.375%||2027||$600m||15 February / 15 August|
|$600m||4.00%||2028||$600m||1 May / 1 November|
|$600m||4.25%||2029||$600m||1 May / 1 November|
* The coupon is paid by the Company to the trustee of the bond on the date show above.
As at 31 October 2020, the Group had net debt of £4,822 million.