March 14, 2024 14:11 GMT
Rolls-Royce (Ba1/BBB-): S&P Upgrade Reaction
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- Follow’s Moody’s one notch upgrade last week to Ba1 (still outlook positive with both).
- 28s up +12.5c in reaction.
- ROLLS now trades inline with the wider BBB- names and tighter than the likes of CE and NK.
- We could see a little more upside closer to the likes of ATOSTR / CLNXSM over time.
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