Debt and Ratings Advisory

Inaugural credit ratings  

• Assistance in obtaining first time credit ratings for inaugural access to debt capital markets. Supporting the relationship between you and the rating agency to obtain the best possible rating to meet your objectives.
• Detailed guidance and advice on credit rating processes.
• Specialists in infrastructure credit ratings and debt structuring.
• Specialists in achieving investment grade credit ratings for private credit and private placement financing structures while optimising capital structure and leverage.
• Work intensively across all credit rating agencies, including Standard & Poor’s, Moody’s, Fitch, Kroll bond rating agency, DBRS Morningstar, Scope Ratings and others.
• Setting, managing, and changing financial and dividend policies in the context of debt / credit ratings.

Rating defence and optimisation

• Credit rating defence, management, and improvement, including in the context of ratings under pressure, or seeking ratings upgrades.
• Advice on optimal financing and rating capacity for transformational capital expenditure programmes, including for energy transition investments.

Events

• Detailed optimal debt structuring and ratings planning and implications for corporate / sponsor events including mergers and acquisitions.
• Acquisition financing capacity and structuring.
• Debt structuring and credit rating optimisation for divestments / spin-offs / carve-outs, asset monetisation and minority participations.
• Sponsor and leveraged finance – Specialists in optimising ratings / leverage and structure for leveraged refinancing, acquisition, recapitalisation.  

Capital structure

• Optimal use and structuring of subsidiary debt / Opco financing.
• Project and asset level financing.
• HoldCo / subordinated financing, ringfencing of financing entities.
• Structuring of equity-like instruments for maximum equity credit and flexibility.
• Optimal use and structuring of hybrid capital instruments and hybrid liability management.
• Cash and Liquidity, working capital and hedging optimisation in the context of Optimal Ratings / Capital Structure.