PVH Corp. (PVH) Ratings Affirmed by S&P Ahead of Q1 Report May 24, 2016 03:02PM

S&P Global Ratings said that it affirmed its 'BB+' corporate credit rating on PVH Corp. (NYSE: PVH). The outlook remains stable.

(NOTE: PVH will report Q1 results on Wednesday.)

At the same time, we affirmed our 'BBB' issue-level rating on the company's senior secured facilities, indicating our expectation of very high (90% to 100%) recovery in the event of payment default. We also affirmed our 'BB+' issue-level rating on the company's $700 million unsecured notes due... (continue reading...)

S&P Removes CF Industries (CF) from CreditWatch Negative; Affirms Ratings May 24, 2016 12:07PM

S&P Global Ratings affirmed its 'BBB-' corporate credit and senior unsecured issue-level ratings on Illinois-based CF Industries Inc. (NYSE: CF) and removed them from CreditWatch where we placed them with positive implications on Aug. 6, 2015. The outlook is negative.

"The rating actions follow the announcement that the proposed transaction with OCI N.V. has been terminated," said S&P Global Ratings credit analyst Sebastian Pinto-Thomaz. "They also reflect our view of... (continue reading...)

Moody's Lifts Outlook on Akorn (AKRX) to Positive; Ratings Affirmed May 24, 2016 11:37AM

Moody's Investors Service, ("Moody's") affirmed the B1 Corporate Family Rating and B1-PD Probability of Default Rating of Akorn, Inc. (Nasdaq: AKRX). Moody's also affirmed the B1 rating on the senior secured term loan, which constitutes the vast majority of the debt in the capital structure. Moody's also revised the Speculative Grade Liquidity Rating to SGL-1 (signifying very good liquidity) from SGL-2 (good liquidity). Concurrently, Moody's revised the outlook to... (continue reading...)

Ares Capital (ARCC) Ratings Affirmed by Fitch Amid Move to Acquire American Capital May 23, 2016 02:58PM

Fitch Ratings has affirmed Ares Capital Corporation's (NASDAQ: ARCC) Long-Term Issuer Default Rating (IDR) and secured and unsecured debt ratings at 'BBB' following the announced acquisition of American Capital, Ltd. (ACAS). The Rating Outlook is Stable. A full list of rating actions follows at the end of this release.

The acquisition, valued at $3.43 billion, is expected to be funded with a combination of cash (50.9%) and stock (49.1%), consisting of approximately... (continue reading...)

S&P Please American Capital (ACAS) Ratings on CreditWatch Positive Following M&A Deal May 23, 2016 02:41PM

S&P Global Ratings today said it placed its 'BB' issuer credit and senior secured and senior unsecured debt ratings on American Capital Ltd. (Nasdaq: ACAS) on CreditWatch with positive implications.

The CreditWatch placement is based on Ares Capital Corp.'s (ARCC) announcement that it will acquire ACAS for approximately $3.43 billion (excluding American Capital Mortgage Management LLC). ARCC will pay about $1.47 billion in cash and $1.68 billion in stock. In addition,... (continue reading...)

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May 18, 2016 02:25PM HSBC Holdings (HSBC) Ratings Affirmed by S&P; Outlook Remains 'Stable'
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May 17, 2016 01:28PM S&P cuts Icahn Enterprises rating to junk, outlook stable
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