(The following statement was released by the rating agency)
LONDON, May 04 (Fitch) Fitch Ratings has downgraded UK care
provider Elli
Investments Ltd's (Elli) senior secured notes to 'B-'/Recovery
Rating 'RR2' (85%
recoveries) from 'B'/'RR1' (100%) and senior unsecured notes to
'CC'/'RR6' (0%)
from 'CCC+'/'RR3' (52%) based on its updated recovery analysis.
Elli's Long-Term
Issuer Default Rating (IDR) has been affirmed at 'CCC'. A full
list of rating
actions is attached at the end of this co
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