Daily Mail’s parent company on ‘credit watch’ over Telegraph takeover

S&P Global Ratings warns Lord Rothermere's RCHL could face credit downgrade as it seeks funding for 500m deal

The Daily Mail's parent company has been warned it could face a credit downgrade if it loads up with debt to fund its 500m takeover of the Telegraph titles.

The US credit ratings agency S&P Global Ratings said Rothermere Continuation Holdings Ltd (RCHL) - the Jersey-based parent company of Lord Rothermere's assets including the Daily Mail, Mail on Sunday, Metro and the i Paper - had been put on credit watch" as it seeks to put a funding package in place to table a formal deal in the coming weeks.