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BUZZ-AA Plc: Gains as co reaffirms outlook, intends to buyback bonds

Wed 11th December, 2019 8:49am
** Shares in UK-based roadside assistance service provider
AA Plc  AAAA.L  rise 9% to 47.38 pence 
    ** Expects EBITDA and free cash flow for FY to be in line
with market expectations  urn:newsml:reuters.com:*:nFWN28L011 
    ** Co intends to buyback outstanding bonds; also seeks to
buyback range of debt tenders, redemptions and issuances over
the coming months
    ** AA underperformed the FTSE smallcap (exluding investment
trusts) index  .FTSX  by 5.0% last month 
    ** Brokerage Peel Hunt says it maintains net debt estimate
of 2.67 bln pounds ($3.43 bln) to reflect improving underlying
cash flow
    ** Shares down 36.8% for the year, including Wednesday's
losses

($1 = 0.7794 pounds)

 (Reporting by Shanima A in Bengaluru)
 ((shanima.a@thomsonreuters.com;
shanima.a.thomsonreuters.com@reuters.net ; Within UK +44 20 7542
1810; Outside UK+91 80 6749 3167))
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