Victoria PLC Senior Notes -- S&P re-affirms credit rating (9562M)
27 September 2021 - 3:59PM
UK Regulatory
TIDMVCP
RNS Number : 9562M
Victoria PLC
27 September 2021
For Immediate Release 27 September 2021
Victoria PLC
('Victoria', the 'Company', or the 'Group')
Senior Notes - S&P re-affirms credit rating with outlook
revised up on improved growth prospects
Victoria PLC (LSE: VCP) the international designers,
manufacturers and distributors of innovative flooring, is pleased
to announce that, S&P have formally improved their view of the
outlook for Victoria's 2026 and 2028 Senior Notes based on the
strong trading performance of the Group, its effective mitigation
of raw material price inflation, and the Group's track record of
successfully integrating acquisitions. This follows a separate
rating upgrade from Fitch in June this year. The Group's AGM
trading statement announced on 7 September highlighted that
Victoria's strong growth continues.
The full S&P announcement (registration required) can be
viewed at;
https://disclosure.spglobal.com/ratings/en/regulatory/article/-/view/type/HTML/id/2726048
CEO Philippe Hamers commented;
"As recently reported the business has continued to trade
extremely well this year with very good revenue growth. We have
been effective at mitigating raw material price increases to ensure
resilient margins. We are very pleased that this has been
recognised by two of the leading ratings agencies along with our
bond investors, with the bonds now trading at a significant premium
to their issue price."
For more information contact:
Victoria PLC
Geoff Wilding, Executive Chairman
Philippe Hamers, Group Chief Executive
Michael Scott, Group Finance Director +44 (0) 1562 749 610
Singer Capital Markets (Nominated Adviser
and Joint Broker)
Rick Thompson, Phil Davies, Alex Bond +44 (0) 207 496 3095
Berenberg (Joint Broker)
Ben Wright, Mark Whitmore, Tejas Padalkar
Peel Hunt (Joint Broker)
Adrian Trimmings, Andrew Clark +44 (0) 203 207 7800
Buchanan Communications (Financial PR) +44 (0) 207 418 8900
Charles Ryland, Chris Lane, Vicky Hayns,
Tilly Abraham +44 (0) 20 7466 5000
About Victoria
Established in 1895 and listed since 1963 and on AIM since 2013
(VCP.L), Victoria PLC, is an international manufacturer and
distributor of innovative flooring products. The Group, which is
headquartered in Kidderminster, UK, designs, manufactures and
distributes a range of carpet, flooring underlay, ceramic tiles,
LVT (luxury vinyl tile), artificial grass and flooring
accessories.
Victoria has operations in the UK, USA, Spain, Italy, Belgium,
the Netherlands and Australia and employs approximately 3,800
people across more than 25 sites. Victoria is the UK's largest
carpet manufacturer and the second largest in Australia, as well as
the largest manufacturer of underlay in both regions.
The Group's strategy is designed to create value for its
shareholders and is focused on consistently increasing earnings and
cash flow per share via acquisitions and sustainable organic
growth. (Further information about Victoria can be found on its
website, www.victoriaplc.com .)
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END
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