Book a ticket Private hire Partner with us Menu Home Investors Debt investors Debt investors Our Group funding strategy is to ensure a mix of funding sources offering flexibility and cost effectiveness to match the requirements of the Group. The objective is to ensure that the Group has appropriate funds to manage its financial obligations and to achieve its business objectives. In addition it is to ensure that the Group has a reasonable level of funding diversity in terms of investors and maturity. The Group maintains a disciplined approach to its financing and is committed to an investment grade credit rating. Both Moody’s and Fitch have reaffirmed their investment grade ratings during the year at (Baa2/negative) and (BBB/stable) respectively. Bonds and prospectuses Euro medium-term note programme (EMTN) Bonds and guarantor statements SIGNIFICANT LIQUIDITY HEADROOM Extended debt maturity profile* *As at 30th June 2021 £1bn cash and uncomitted headroom: RCF undrawn £0.5bn Cash £0.5bn Average maturity of 5 years No material refinancing requirement before 2023 See our 2020 Annual Report for full details. REMAIN COMMITTED TO A ROBUST FINANCIAL STRATEGY: Strong commitment to Investment Grade debt rating. Moody’s and Fitch reaffirmed again Medium term commitment to reduce gearing to 1.5x- 2.0x EBITDA Prudent risk planning – rolling fuel hedge and pension deficit plan in place National Express Group PLC is a company registered in England and Wales, whose registered office is National Express House, Birmingham Coach Station, Mill Lane, Digbeth Birmingham, B5 6DD. Registered No: 2590560. QUICK LINKS National Express Foundation About us Sustainability Investors Media Careers CUSTOMERS Contact us © National Express Group PLC 2021. All rights reserved. Site Map Modern Slavery Statement Tax policy Privacy centre Cookie policy Cookies Settings We use cookies to optimise our website's functionality, to create more valuable experiences for you, and to keep our site secure. By clicking on the “Accept All Cookies” button, you consent to our use of cookies. You can change your preferences at any time in “Cookie Settings”. Cookies Settings Accept All Cookies