TEXT-Fitch upgrades GKN Holdings to 'BBB-'; outlook stable


(The following statement was released by the ratings agency) March 28 - Fitch Ratings has upgraded UK-based GKN Holdings plc.'s (GKN) Long-term Issuer Default Rating (IDR) and senior unsecured ratings to 'BBB-' from 'BB+'. The Outlook on the Long-term IDR is Stable. The agency has also upgraded GKN's Short-term IDR to 'F3' from 'B'. The upgrade reflects GKN's strong profitability recovery, improved cash flow and significantly lowered leverage. These credit metrics are underpinned by ...

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