Senior Notes - S&P re-affirms credit rating

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	[phone]
Singer Capital Markets (Nominated Adviser and Joint Broker) Rick Thompson, Phil Davies, Alex Bond	[phone]
Berenberg (Joint Broker) Ben Wright, Mark Whitmore, Tejas Padalkar Peel Hunt (Joint Broker) Adrian Trimmings, Andrew Clark Buchanan Communications (Financial PR) Charles Ryland, Chris Lane, Vicky Hayns, Tilly Abraham	[phone] [phone] [phone]

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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