2 September 2021, Burton upon Trent, UK – Doncasters Group, a UK-headquartered international manufacturer of high-precision alloy components, welcomed the rating upgrade of its PDR and its first-tier loans by rating agency Moody’s.
In addition, Moody’s has changed the outlook on all of Doncasters’ ratings to positive, reflecting Moody’s view that the Company’s revenue and EBITDA will continue to grow over the next 12-18 months supported by organic growth and new business wins with “opportunities to improve to historic levels of profitability.”
Mike Quinn, Doncasters CEO commented: “While we are committed to further upgrades it is gratifying that our work so far has been recognised. This upgrade and positive outlook are a testament to the improvements we are making to our operations, the resilience of the business and our employees during the worst effects of the pandemic, and the confidence we have from our shareholders.”
The Moody’s Press Release can be viewed here: https://www.moodys.com/research/Moodys-affirms-Doncasters-Caa2-corporate-family-rating-and-upgrades-first–PR_453249?cid=7QFRKQSZE021