Aston Martin to pay dizzying 12% for ‘rescue financing’, S&P slashes rating
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Aston Martin to pay dizzying 12% for ‘rescue financing’, S&P slashes rating

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Aston Martin printed a $150m senior secured private placement (PP) this week at a racy yield of 12%. But some investors felt was more like an equity raise — stirring memories of the firm’s torrid IPO in October. S&P showed no mercy at the iconic carmaker swelling its leverage, cutting its credit rating to triple-C. The firm is now placing its future in the hands of a new luxury SUV.

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