Latest ratings blow for Towergate
Fitch downgrades consolidator for the second time in four weeks.
Ratings agency Fitch has downgraded Towergate's rating for the second time in four weeks.
The rating change sees the consolidator slip from B outlook negative to CC.
The agency said the downgrade reflects Towergate's declining Ebitda profitability and increasing pressure on operational cash flows as well as limited liquidity and approaching maturities.
Declining
Fitch believes that the declining fundamentals and increasing pressure on liquidity mean there is an increased probability of debt
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