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Fixed income

Credit Rating

Ratings represent an evaluation of credit quality, conducted by independent financial analysis firms. Credit ratings and research can help investors assess marketplace value and degree of investment risk.

Standard & Poor's (S&P) and Moody's are leading global credit rating, research and risk analysis operations.

Rating Agency Long Term Short Term
Moody’s Ba2 N/A
Standard and Poor’s BB B

Listed debt

Below are details of CWC’s listed debt (debt quoted and traded on stock exchanges). Like most large organisations, CWC funds its operations through equity and debt as well as from funds generated its trading activities. This information is provided for debt/fixed income investors, analysts and credit rating agencies.

US Dollar ISIN Outstanding Coupon Freq. Maturity Listing
Secured 20201 USG77636AA91 $400m 8.75% S/A 1/2/20 London

Trustees on 2020 Bonds USD

Deutsche Bank AG
Debt & Agency Services
Global Transaction Banking
Trust & Securities Services
Deutsche Bank AG London
T: +44 207 545 8000.

UK Sterling ISIN Outstanding Coupon Freq. Maturity Listing
Unsecured 20192 XS0050504306 £146.7m 8.625% A 25/3/19 London

Trustees on 2019 Bonds GBP

Royal Exchange Trust Company Limited
C/O Capita Trust Company Limited
4th Floor 40 Dukes Place
T: 020 3367 8200
F: 020 3170 0246
E: corporatetrusts@capita.co.uk

1 Issued by Sable International Finance Limited
2 Issued by Cable and Wireless International Finance B.V.