Phoenix Group Holdings (PHNX.L)
(The following statement was released by the rating agency) LONDON, April 25 (Fitch) Fitch Ratings says that the ratings of Phoenix Group Holdings (Phoenix) and its main operating entities are unaffected by Phoenix's announcement that it plans to increase the outstanding amount of its subordinated GBP300 million Tier 3 notes issued in January 2017. The additional capital will be raised in the form of a 'tap' issue on the same terms and conditions as the original amount raised. Phoenix aims to us
* Announces offer to purchase sterling senior debt and expected tier 3 tap issue
Phoenix Group Holdings , Britain's largest owner of life assurance funds closed to new customers, plans to buy more such assets, in a market which its chief executive said was worth about 300 billion pounds ($372.3 billion).
(The following statement was released by the rating agency) LONDON, March 20 (Fitch) Fitch Ratings says that the ratings of Phoenix Group Holdings' (Phoenix; IDR A-/Positive) notes remain unaffected by Phoenix's announcement that it has become the issuer of the senior and subordinated notes originally issued by PGH Capital Public Limited Company (PGH Capital; previously PGH Capital Limited). A list of the notes is below. The notes were originally issued with a guarantee from Phoenix. Consequ
March 20 Britain's FTSE 100 futures were flat ahead of the cash market open on Monday.
March 20 Phoenix Group Holdings, Britain's largest owner of life assurance funds closed to new customers, raised its long-term cash generation target due to benefits of acquisitions made last year.
* 486 million STG of cash generation (2015: £225 million), meeting group's 2016 cash generation target
(The following statement was released by the rating agency) LONDON, January 17 (Fitch) Fitch Ratings has assigned PGH Capital Public Limited Company's GBP300m dated subordinated notes, guaranteed by Phoenix Group Holdings (Phoenix; Issuer Default Rating (IDR) A-/Positive) a 'BBB-' rating. The notes are rated three notches below Phoenix's IDR of 'A-', comprising two notches for a 'poor' baseline recovery assumption and one for 'moderate' non-performance risk. KEY RATING DRIVERS The notes hav
Jan 10 Phoenix Group Holdings, Britain's largest owner of life assurance funds closed to new customers, posted cash generation from operating companies of 486 million pounds ($590.2 million) in 2016, meeting its target of 350-450 million pounds.
* Has generated a total of 486 million stg of cash from group's operating companies in 2016