REG - Warrington Borough - Statement re credit rating
17/06/2024 08:00
For best results when printing this announcement, please click on link below: http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240617:nRSQ5472Sa&default-theme=true RNS Number : 5472S Warrington Borough Council 17 June 2024 RNS Number : 5472S Warrington Borough Council 17 June 2024 Warrington Borough Council Withdrawal of Rating £150,000,000 0.846 per cent. Indexed Bonds due 2055 (the Bonds) of Warrington Borough Council Moody's Investors Service Limited has, on 14 June 2024, announced its withdrawal of its credit rating of Warrington Borough Council (the Council) as a result of the inability of the Council to procure that its statements of accounts are audited by external auditors for historical financial years. This inability is due to challenges which apply across the local government sector as a whole in securing auditors of sufficient capacity and capability. In accordance with Clause 13.1(t) of the Bond Trust Deed (as defined below), the Council has initiated steps to seek an alternative rating from a Rating Agency that is established in the European Union and registered under Regulation (EC) No. 1060/2009 (as amended). The Council remains compliant with the terms of the Bonds. Terms used but not otherwise defined in this notice shall have the meanings given to them in the Bond Trust Deed constituting the Bonds dated 16 August 2015 (the Bond Trust Deed) between the Council and M&G Trustee Company Limited (formerly Prudential Trustee Company Limited) as bond trustee. For further information, please contact: Danny Mather Deputy Director of Finance Warrington Borough Council Town Hall Sankey Street Warrington Cheshire WA1 1UH Email: dzmather@warrington.gov.uk This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com (mailto:rns@lseg.com) or visit www.rns.com (http://www.rns.com/) . RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy) . END STRFLFSLRSISLIS