S&P Global Lifts Avast Issuer Credit Rating To BB With Stable Outlook

LONDON (Alliance News) - Avast PLC on Tuesday said S&P Global Ratings has raised its issuer ...

Alliance News 26 March, 2019 | 9:52AM
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LONDON (Alliance News) - Avast PLC on Tuesday said S&P Global Ratings has raised its issuer credit rating on the cybersecurity company to BB from BB- with a stable outlook.

Moody's Investor Service also has a stable outlook for the FTSE 250 company. Moody's gave Avast an issuer credit rating of Ba3.

Avast also announced that it voluntarily paid down USD200 million of its existing USD debt using cash on its balance sheet. The company's gross debt at the end of 2018 was USD1.41 billion, of which USD864.7 million was the USD tranche of its term loan and the remainder was its EUR tranche.

Shares in Avast were up 2.0% at 296.75 pence on Tuesday morning.

By Anna Farley; annafarley@alliancenews.com

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar Rating
Avast PLC 338.80 GBX -2.02 -
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