...- We assigned our '### (sf)' rating to RAC Bond Co. PLC's class A3 notes. At the same time, we have affirmed our '### (sf)' and 'B+ (sf)' ratings on the existing class A2 and B2-Dfrd notes, respectively. - RAC Bond Co. PLC is a whole business securitization of RAC Bidco Ltd.'s operating businesses. - The issuer's financing structure blends a corporate securitization of RAC's U.K. operating business with a subordinated high-yield issuance. LONDON (S&P Global Ratings) Oct. 13, 2023--S&P Global Ratings today assigned its '### (sf)' credit rating to RAC Bond Co. PLC's class A3 notes. At the same time, we affirmed our '### (sf)' and 'B+ (sf)' ratings on the existing class A2 and B2-Dfrd notes, respectively. The class A3 notes' expected maturity date (EMD) is in November 2028. At closing, the issuance's proceeds were used to redeem ú200 million of a 2022 senior term facility (STF) with an EMD in May 2025, therefore extending the maturity of the issuer's debt. Under the refinancing, we expect...
