S&P Affirms Ratings on ServiceMaster (SERV) Mar 6, 2015 03:23PM

Standard & Poor's Ratings Services said that its ratings on Memphis-based The ServiceMaster Co. LLC (NYSE: SERV), including the 'B' corporate credit rating, 'B+' issue-level rating on the company's senior secured credit facility, and 'B-' issue-level rating on the company's senior unsecured notes, are unchanged following the proposed $175 million incremental first-lien term debt issuance. The transaction would have identical terms to the existing outstanding term debt.... (continue reading...)


S&P Rases iGate Corp. (IGTE) to BB'; Says Financial Risk Profile has Improved Mar 6, 2015 12:23PM

Standard & Poor's Ratings Services today said it raised its corporate credit rating on Bridgewater, N.J.-based iGATE Corp. (Nasdaq: IGTE) to 'BB' from 'BB-'. The outlook is stable.

At the same time, we raised the issue-level rating on the company's $325 million senior unsecured notes to 'BB' from 'BB-'. The recovery rating remains '3', indicating our expectation for average (50%-70%, at the higher end of the range) recovery in the event of a payment default.

"The upgrade... (continue reading...)


Moody's Cuts Titan Int'l (TWI) to 'B3'; Notes Lower Performance in Primary End-Markets Mar 6, 2015 12:07PM

Moody's Investors Service downgraded the ratings of Titan International, Inc. (NYSE: TWI) ("Titan") including its Corporate Family Rating ("CFR") and Probability of Default Ratings to B3 and B3-PD from B2 and B2-PD, respectively. Concurrently, the rating on the company's senior secured notes due 2020 was downgraded to B3 from B2. The ratings downgrade was driven by lower than expected operating performance in the company's primary end-markets due to lower demand for... (continue reading...)


S&P Affrims Ratings on Mallinckrodt (MNK) Amid Ikaria Deal Mar 6, 2015 10:19AM

Standard & Poor's Ratings Services today affirmed its 'BB-' corporate credit rating on Mallinckrodt PLC (NYSE: MNK). The outlook is stable.

At the same time, we affirmed the 'BB+' rating on the company's senior secured debt, 'BB-' rating on the senior unsecured debt, and 'B' rating on the subordinated debt. The respective recovery ratings of '1', '4', and '6' remain unchanged.

"The rating affirmation follows the company's announcement that it will be acquiring Ikaria Inc.... (continue reading...)


S&P Revises Outlook on AbbVie (ABBV) to Negative Following Pharmacyclics (PCYC) News Mar 5, 2015 04:53PM

Standard & Poor's Ratings Services today affirmed all of its ratings on AbbVie Inc. (NYSE: ABBV), including the 'A' corporate credit rating. The outlook is negative.

AbbVie will acquire Pharmacyclics for $21 billion and will finance the acquisition with debt and equity. The rating affirmation reflects our belief that AbbVie can temporarily withstand higher leverage over the next two years.

"The negative outlook reflects the potential for the company to sustain leverage at... (continue reading...)


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Mar 5, 2015 04:49PM S&P Downgrades Neustar (NSR) to 'BB-'; Retention of LNPA Contract Unlikely
Mar 5, 2015 03:31PM Cemex S.A. (CX) Outlook Raised to Positive by S&P
Mar 5, 2015 11:18AM Fitch Upgrades Heallthcare Realty Trust (HR) to 'BBB'; Outlook Stable
Mar 5, 2015 11:02AM S&P Rates Berkshire Hathaway's (BRK-A)(BRK-B) Unsecured Euro-Denominated Notes at 'AA'
Mar 4, 2015 03:50PM S&P Cuts Rating on American Eagle Energy (AMZG) to 'D'; Notes Missed Interest Payment
Mar 4, 2015 02:30PM Abbott Labs (ABT) Senior Unsecured Rating Cut to 'A2' by Moody's
Mar 4, 2015 11:40AM S&P Removes American Realty Capital Properties (ARCP) from CreditWatch Negative
Mar 4, 2015 11:35AM Moody's Cuts Senior Unsecured Ratings of Energy XXI (EXXI) to 'Caa3'
Mar 3, 2015 02:11PM S&P Rates Peabody Energy's (BTU) Proposed Second-Lien Debt Offering at 'BB+'; Corp. Rating Affirmed, Outlook Negative
Mar 3, 2015 12:32PM Fitch Slashes Doral Financial (DRL) to 'D' After Undergoing Receivership
Mar 3, 2015 09:58AM S&P Places Springleaf, OneMain Holdings on CreditWatch Negative Following Merger Plans (C)
Mar 2, 2015 03:00PM S&P Keeps Hewlett-Packard (HPQ) on CreditWatch Negative Following Plan to Acquire Aruba Networks
Mar 2, 2015 02:55PM S&P Trims Ratings on Barrick Gold (ABX) to 'BBB-'; Adj.-Debt-to-EBITDA Ratio May Come in Beyond Expectations
Mar 2, 2015 01:22PM AIG (AIG) Ratings Outlook Revised to 'Positive' at Fitch
Mar 2, 2015 12:12PM Moody's Lifts Outlook on Irish Banking System to Stable (IRE)
Mar 2, 2015 12:10PM S&P Lowers Outlook on Boston Scientific (BSX) to Negative on Debt Issuance Plans
Feb 27, 2015 02:39PM S&P Cuts Mack-Cali Realty (CLI) to 'BB+'; Sees NJ Lease Expirations Eroding Net Op. Income
Feb 27, 2015 11:43AM Moody's Raises Outlook on Whirlpool (WHR) to Positive
Feb 27, 2015 11:32AM Flowserve (FLS) Ugraded to BBB by S&P; Notes Good Operating Performance Bringing Credit Metrics Inline
Feb 26, 2015 02:54PM Moody's Upgrades Antero Resources (AR) to 'Ba2'; Expects Strong Production Growth, Increasing Reserves
Feb 26, 2015 10:01AM S&P Affirms Ratings on China; Sees Increased Resiliency on New Reforms (FXI)
Feb 26, 2015 09:16AM Moody's Maintains Positive Outlook on Mortgage Insurers (RDN) (ORI) (AGO)
Feb 25, 2015 02:59PM Moody's Lowers Transocean (RIG) to 'Baa1'; Sees Increased Leverage on 'Prolonged Industry Down-Cycle'
Feb 25, 2015 02:54PM S&P Downgrades Rex Energy (REXX) to 'B-'; Sees Leverage Elevating Beyond FY15 Triggers
Feb 25, 2015 12:37PM S&P Assigns 'BBB' Rating to Juniper Networks (JNPR) Senior Unsecured Notes
Feb 25, 2015 12:00PM Moody's Raises Outlook on Cooper Tire (CTB) to Stable
Feb 25, 2015 08:48AM Petrobras (PBR) Shares Decline After Debt Cut to Junk at Moody's
Feb 24, 2015 03:02PM S&P Assigns 'BB-' Rating to Lattice Semi (LSCC); No Issues with Silicon Image Integration Expected
Feb 24, 2015 02:58PM Spectra Energy (SE) Ratings Affirmed by S&P Amid DCP Midstream (DPM) Downgrade
Feb 23, 2015 03:31PM Valeant Pharma (VRX) Placed on CrditWatch Positive by S&P Amid Planned Salix (SLXP) Acquisition
Feb 23, 2015 02:43PM Interpublic Group (IPG) Placed on CreditWatch Negative by S&P
Feb 23, 2015 02:40PM Moody's Affirms Ratings on Valeant Pharma (VRX) Following Move to Acquire Salix Pharma (SLXP)
Feb 23, 2015 12:33PM Amphenol (APH) Ratings Affirmed by S&P; Outlook Stable
Feb 23, 2015 12:10PM Moody's Assigns 'Baa2' Rating to Coach's (COH) Unsecured Note Offering; Outlook Stable
Feb 20, 2015 03:38PM AuRico Gold (AUQ) Corp. Credit Rating Affirmed by S&P; Sees Improvement in Core Credit Ratios
Feb 20, 2015 09:28AM S&P Upgrades Nielsen (NLSN) to 'BB+'; Sees Maintaining Lower Leverage Levels
Feb 19, 2015 02:46PM S&P Places Intelsat S. A. (I) Ratings on Watch for Possible Downgrade
Feb 19, 2015 12:31PM Moody's Places Rexam (BLL) on Review for Downgrade Following Ball Corp. (BLL) Deal
Feb 19, 2015 12:10PM Delphi's (DLPH) Move to Sell Thermal Business Unit is Credit-Positive Development - Moody's
Feb 19, 2015 09:57AM S&P Cuts Genworth Financial (GNW), U.S. Subsidiaries Two Notches to 'BBB-'
Feb 18, 2015 02:53PM S&P Affirms Ratings, Outlook on Boston Scientific (BSX) Following J&J Settlement
Feb 18, 2015 02:51PM S&P Rates Apple's (AAPL) Swiss-Franc Denominated Notes at 'AA+'
Feb 18, 2015 02:04PM ConocoPhillips (COP) Outlook Lowered to Negative by Moody's; Sees Leverage Increasing Over Next Two Years
Feb 18, 2015 12:45PM Boston Scientific's (BSX) Settlement with J&J (JNJ) is Credit-Negative Event - Moody's
Feb 18, 2015 11:25AM Greece's Ratings at Risk as Talks with Creditors Continue, Bailout Deadline Looms - Fitch (FXE) (NBG)
Feb 17, 2015 11:46AM S&P Cuts MagnaChip (MX) Two-Notches to 'B-'; Restated Financials Worse than Expected
Feb 17, 2015 10:24AM Phillips 66 Partners (PSXP) Assigned 'BBB' by S&P
Feb 13, 2015 04:07PM Fitch Cuts Austria's Issuer Default Ratings to 'AA+'; Outlook Stable (FXE)
Feb 13, 2015 03:04PM Pier 1 Imports' (PIR) Revised FY15 Outlook is Credit-Negative Event - Moody's
Feb 13, 2015 02:44PM Orbitz Worldwide (OWW) Placed on CreditWatch Positive by S&P Amid Expedia (EXPE) Deal
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