Punch busy building restructuring support as Moody’s reviews debt ratings
Punch Taverns hopes to ask bondholders to vote on the debt restructuring proposal it announced at the start of February within the first half of the year. Ratings agency Moody’s, meanwhile, is worried about higher cash flow declines than it previously predicted and has put all classes of Punch 'A' and Punch 'B' debt on review for downgrade.
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