Rentokil Initial Plc Credit Ratings :: ֳ

ֳ

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Rentokil Initial Plc

UK Issued, EU Endorsed; Solicited by or on behalf of the issuer (sell side)

ESG Relevance
1
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3
4
5

01Ratings

RatingActionDateType
BBBAffirmed24-Sep-2024Long Term Issuer Default Rating
Ratings KeyOutlookWatch
Positive
Negative
Evolving
Stable 

* Ratings displayed in orange denotes EU or UK Unsolicited and Non-Participatory Ratings

Where there was a review with no rating action (Review – No Action), please refer to the “Latest Rating Action Commentary” for an explanation of key rating drivers

*Premium Content is displayed in ֳ Red

Rating History

Date :24-Sep-202427-Oct-2023
Rating :BBBBBB
Action :AffirmedNew Rating

02Rating Actions

03Insights

04Sector Outlooks

05Securities and Obligations

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Issuer: Rentokil Initial Plc
Debt Level: senior unsecured
Issue: USD 1 bln Floating revolving credit facility 12-Oct-2029
24-Sep-2024
BBB
Affirmed
Long Term Rating

Rating History
Country: United Kingdom
Sectors: Corporate Finance
Disclosures: UK Issued, EU Endorsed; Solicited by or on behalf of the issuer (sell side)
senior unsecured; revolving credit facility
Maturity Date: 12-Oct-2029
Currency: USD
Amount: 1,000,000,000
Placement: Public
Issuer: Rentokil Initial Plc
Debt Level: senior unsecured
Issue: USD 700 mln Floating term loan 12-Oct-2025
24-Sep-2024
BBB
Affirmed
Long Term Rating

Rating History
Country: United Kingdom
Sectors: Corporate Finance
Disclosures: UK Issued, EU Endorsed; Solicited by or on behalf of the issuer (sell side)
senior unsecured; term loan
Maturity Date: 12-Oct-2025
Currency: USD
Amount: 700,000,000
Placement: Public
Issuer: Rentokil Initial Plc
Debt Level: senior unsecured
Issue: EUR 500 mln 0.875% bond/note 30-May-2026
24-Sep-2024
BBB
Affirmed
Long Term Rating

Rating History
Country: United Kingdom
Sectors: Corporate Finance
Disclosures: UK Issued, EU Endorsed; Solicited by or on behalf of the issuer (sell side)
senior unsecured; bond/note
ISIN: XS1996441066 (Public)
Maturity Date: 30-May-2026
Currency: EUR
Amount: 500,000,000
Coupon Rate: .875%
Placement: Public
Issuer: Rentokil Initial Plc
Debt Level: senior unsecured
Issue: GBP 400 mln 5% bond/note 27-Jun-2032
24-Sep-2024
BBB
Affirmed
Long Term Rating

Rating History
Country: United Kingdom
Sectors: Corporate Finance
Disclosures: UK Issued, EU Endorsed; Solicited by or on behalf of the issuer (sell side)
senior unsecured; bond/note
ISIN: XS2495087137 (Public)
Maturity Date: 27-Jun-2032
Currency: GBP
Amount: 400,000,000
Coupon Rate: 5%
Placement: Public
Issuer: Rentokil Initial Plc
Debt Level: senior unsecured
Issue: EUR 600 mln 0.5% bond/note 14-Oct-2028
24-Sep-2024
BBB
Affirmed
Long Term Rating

Rating History
Country: United Kingdom
Sectors: Corporate Finance
Disclosures: UK Issued, EU Endorsed; Solicited by or on behalf of the issuer (sell side)
senior unsecured; bond/note
ISIN: XS2242921711 (Public)
Maturity Date: 14-Oct-2028
Currency: EUR
Amount: 600,000,000
Coupon Rate: .5%
Placement: Public
Issuer: Rentokil Initial Plc
Debt Level: senior unsecured
Issue: EUR 400 mln 0.95% bond/note 22-Nov-2024
22-Nov-2024
NR
Matured
Long Term Rating

Rating History
Country: United Kingdom
Sectors: Corporate Finance
Disclosures: UK Issued, EU Endorsed;
senior unsecured; bond/note
ISIN: XS1722897623 (Public)
Maturity Date: 22-Nov-2024
Currency: EUR
Amount: 400,000,000
Coupon Rate: .95%
Placement: Public
Issuer: Rentokil Initial Plc
Debt Level: senior unsecured
Issue: EUR 5 bln EMTN Programme
15-Oct-2024
BBB
New Rating
Long Term Rating

Rating History
Country: United Kingdom
Sectors: Corporate Finance
Disclosures: UK Issued, EU Endorsed;
senior unsecured; program - medium term note
Currency: EUR
Amount: 5,000,000,000
Placement: Public
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06ֳ Adjusted Financials

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07Disclosures

Original Rating Date
Long Term Issuer Default Rating27-Oct-2023
Endorsement Status
UK Issued, EU Endorsed
Country of ֳ Office
UNITED KINGDOM
Solicitation Status
Long Term Issuer Default RatingSolicited - Sell Side
Country of Analyst
UNITED KINGDOM

08Identifiers

Type:CIK CodeDow Jones TickerLEI
Identifier:0000930157RTO.LN549300VN4WV7Z6T14K68

09Criteria

02Aug
2024
Active Criteria
Corporates Recovery Ratings and Instrument Ratings Criteria
21Jun
2024
Expired Criteria
Sector Navigators – Addendum to the Corporate Rating Criteria - Effective from 21 June 2024 to 6 December 2024
03Nov
2023
Expired Criteria
Corporate Rating Criteria - Effective 3 November 2023 to 6 December 2024
13Oct
2023
Expired Criteria
Corporates Recovery Ratings and Instrument Ratings Criteria - Effective from 13 October 2023 to 2 August 2024
21Jul
2023
Expired Criteria
Climate Vulnerability in Corporate Ratings Criteria - Effective from 21 July 2023 to 3 November 2023
More Criteria

10Analysts

Brendan Gould
Primary Rating Analyst

Elin Lanneström
Secondary Rating Analyst

Credit-Relevant ESG Scale

How relevant are E, S and G issues to the overall credit rating?

5
Highly relevant, a key rating driver that has a significant impact on the rating on an individual basis. Equivalent to "higher" relative importance within Navigator.
4
Relevant to rating, not a key rating driver but has an impact on the rating in combination with other factors. Equivalent to "moderate" relative importance within Navigator
3
Minimally relevant to rating, either very low impact or actively managed in a way that results in no impact on the entity rating. Equivalent to "lower" relative importance within Navigator.
2
Irrelevant to the entity rating but relevant to the sector.
1
Irrelevant to the entity rating and irrelevant to the sector

* ESG Relevance is applicable for international scale ratings only

Ratings KeyOutlookWatch
Positive
Negative
Evolving
Stable 

* Ratings displayed in orange denotes EU or UK Unsolicited and Non-Participatory Ratings

Where there was a review with no rating action (Review – No Action), please refer to the “Latest Rating Action Commentary” for an explanation of key rating drivers

*Premium Content is displayed in ֳ Red