Soho House Bond Limited -- Moody's affirms Soho House Caa1 CFR; outlook remains positive

London, 07 May 2014 -- Moody's Investors Service, ("Moody's") today affirmed Soho House Bond Limited's ("Soho House") Caa1 corporate family rating (CFR) and the Caa1 rating of the GBP140 million senior secured notes issued by Soho House Bond Ltd. The affirmations follow the announcement that Soho House proposes to issue GBP 25 million of add-on bonds shortly. At the same time Moody's downgraded the Probability of Default Rating (PDR) of Soho House to Caa1-PD from B3-PD, reflecting the change in the company's capital structure following the incurrence of mortgage bank debt to acquire the remaining unowned portion of the Soho Beach House property in Miami in March this year.

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