Fixed income

Credit Rating

Ratings represent an evaluation of credit quality, conducted by independent financial analysis firms. Credit ratings and research can help investors assess marketplace value and degree of investment risk.

Standard & Poor’s (S&P) and Moody’s are leading global credit rating, research and risk analysis operations.

Rating Agency Long Term Short Term
Moody’s Ba2 N/A
Standard and Poor’s BB- B

Listed debt

Below are details of CWC’s listed debt (debt quoted and traded on stock exchanges). Like most large organisations, CWC funds its operations through equity and debt as well as from funds generated its trading activities. This information is provided for debt/fixed income investors, analysts and credit rating agencies.

US Dollar ISIN Outstanding Coupon Freq. Maturity Listing
Secured 20201 USG77636AA91 $400m 8.75% S/A 1 Feb 2020 London
Unsecured 20212 USP2894NAC13 $1,250m 7.375% S/A 30 Mar 2021 Luxembourg Frankfurt
Unsecured 20221 USG77636AB74 $750m 6.875% S/A 1 Aug 2022