S&P Affirms Ratings, Outlook on Vectren (VVC); Business Risk Assessed at 'Strong' Jul 31, 2015 02:32PM

Standard & Poor's Ratings Services affirmed its 'A-' long-term issuer credit rating on Vectren Corp. (NYSE: VVC), a regulated utility and infrastructure construction company. The outlook is stable.

"Regulated utilities constitute approximately 80% of consolidated EBITDA, with the remainder consisting of riskier infrastructure construction and energy services businesses," said Standard & Poor's credit analyst Gerrit Jepsen. Our "strong" business risk assessment of Vectren... (continue reading...)


S&P Cuts Ares Management's (ARES) Issuer Credit Rating to 'BBB+'; Follows Kayne Anderson Merger Plans Jul 31, 2015 12:11PM

Standard & Poor's Ratings Services said it lowered its issuer credit rating on Ares Management (NYSE: ARES) to 'BBB+' from 'A-'. The outlook is stable. At the same time, we also lowered the issue rating on the company's senior unsecured debt to 'BBB+' from 'A-'.

"The downgrade reflects higher expected leverage following Ares' announced plans to merge with Kayne Anderson Capital Advisors L.P., an alternative investment firm with approximately $26 billion of AUM across... (continue reading...)


Belden (BDC) Outlook Lowered to Negative by S&P; Sees Challenges to Reducing Leverage Jul 31, 2015 11:50AM

Standard & Poor's Ratings Services revised its outlook to negative from stable and affirmed its 'BB' corporate credit rating on St. Louis-based Belden (NYSE: BDC).

Our issue-level and recovery ratings on the company's secured and subordinated debt are unchanged.

"The outlook revision reflects our view that headwinds in Belden's broadcast and industrial segments may preclude the company from reducing leverage to less than 4x during the next 12 months, from leverage... (continue reading...)


Moody's Moves Outlook on Mylan (MYL) to Developing Following Withdrawal of Teva (TEVA) Offer Jul 31, 2015 11:44AM

Moody's Investors Service affirmed the Baa3 senior unsecured rating of Mylan Inc. (subsidiary of Mylan (NASDAQ: MYL), together "Mylan") and changed the outlook to negative from developing. The change in outlook was triggered by the withdrawal of Teva Pharmaceutical Industries Ltd's (Teva, Baa1 ratings under review for downgrade) unsolicited offer to acquire Mylan. This significantly reduced the likelihood that Mylan's ratings will be upgraded over the next 12-18... (continue reading...)


S&P Lifts Outlook on Fiat Chrysler Automobiles (FCAU) to Positive; Sees Improving Leverage Over Next Year Jul 30, 2015 12:17PM

Key Points:

  • During the next year, we expect Fiat Chrysler Automobiles N.V. (FCA) to completely remove contractual restrictions which limit its access to sizeable cash balances in FCA US LLC (FCA US, formerly Chrysler Group LLC).
  • If this occurs, we forecast potentially stronger leverage metrics, with a ratio of funds from operations (FFO) to adjusted debt of 20%-25% in 2016.
  • We are therefore revising our outlook on FCA and FCA US to positive from stable, and affirming our... (continue reading...)

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Jul 30, 2015 11:21AM S&P Lifts Issuer-Level Rating on M/I Homes (MHO) to 'B+'; Raises Outlook to Positive
Jul 29, 2015 02:54PM Moody's Raises Outlook on Verint Systems (VRNT) to Positive; Ratings Affirmed
Jul 29, 2015 02:34PM S&P Assigns 'AA+' Issuer-Level Rating to Apple's (AAPL) GBP-Denominated Unsecured Notes
Jul 28, 2015 02:21PM S&P Cuts Philips N.V. (PHG) to 'BBB+'; Notes Weak Operational Performance
Jul 28, 2015 12:13PM S&P lowers outlook on Brazil to Negative; Ratings affirmed (EWZ)
Jul 28, 2015 11:13AM Teva Pharma (TEVA) Ratings Cut to 'BBB+' by S&P; Remains on CreditWatch Negative
Jul 28, 2015 10:39AM S&P Lifts Issuer Ratings on Janus Capital (JNS) to 'BBB/A-2', Outlook Stable
Jul 27, 2015 11:35AM S&P Raises Outlook on Maiden Holdings (MHLD) and Subsidiaries to Stable
Jul 24, 2015 11:55AM Slowing Tecfidera Sales Increases Biogen's (BIIB) M&A Risk - Moody's
Jul 24, 2015 11:53AM S&P Upgrades MDC Partners (MDCA) to 'B+' Following SEC Inquiries, CEO Resignation
Jul 24, 2015 09:46AM Moody's Upgrades Hawaiian Holdings (HA) to 'B2'; Outlook Stable
Jul 23, 2015 03:45PM Moody's Upgrades Group 1 Automotive (GPI) to 'Ba1'; Outlook Stable
Jul 23, 2015 12:40PM S&P Upgrades Delta Air Lines (DAL) to 'BB+'; Sees Credit Measures Continuing to Strengthen
Jul 23, 2015 11:20AM Moody's Upgrades ManpowerGroup (MAN) to 'Baa1'; Notes Modest Debt-to-EBITDA Ratio
Jul 22, 2015 03:06PM St. Jude Medical (STJ) Places Under Review for Downgrade by Moody's
Jul 22, 2015 11:09AM UPDATE: S&P Places St. Jude Medical (STJ) on CreditWatch Negative; Ratings Reaffirmed
Jul 22, 2015 10:25AM Moody's Sees Boeing (BA) as Hardest Hit Without Ex-Im Bank Renewal
Jul 21, 2015 02:29PM UPDATE: S&P Upgrades Greece to 'CCC+'; Outlook to Stable (GREK)
Jul 21, 2015 12:23PM S&P Places Gaming and Leisure Properties (GLPI) on CreditWatch Negative Amid Pinnacle (PNK) Asset Deal
Jul 21, 2015 12:13PM Hill-Rom Holdings (HRC) Cut to Junk by S&P Following Welch Allyn Deal
Jul 21, 2015 10:50AM Springleaf Holdings (LEAF) Liquidity to Weaken on OneMain Financial (C) Acquisition
Jul 20, 2015 05:14PM S&P Places Lockheed Martin (LMT) on CreditWatch Negative Amid Sikorsky Aircraft Deal
Jul 20, 2015 03:35PM Lockheed Martin's (LMT) L-T Ratings Placed on Watch Negative by Fitch
Jul 20, 2015 02:14PM Moody's Upgrades Swift Transportation's (SWFT) Corp. Rating to 'Ba2' Following Updated Operating Leases Approach
Jul 20, 2015 10:56AM Moody's Downgrades eBay (EBAY) to 'Baa1' Following PayPal Spin
Jul 20, 2015 09:31AM UPDATE: S&P Downgrades eBay (EBAY) to 'BBB+'; Reflects 'Satisfactory' Business Profile
Jul 17, 2015 03:58PM S&P Moves Outlook on TECO Energy (TE) to 'Developing'
Jul 17, 2015 03:03PM S&P Cuts Swift Energy (SFY) to 'CCC', Outlook Negative; Near-Term Liquidity Challenges to Continue
Jul 17, 2015 02:55PM S&P Cuts Wynn Resorts Ltd (WYNN) to 'BB'; Removes from CreditWatch Negative
Jul 17, 2015 09:43AM S&P Affirms Martin Marietta Materials (MLM) at 'BBB'; Sees Credit Measures Continuing to Improve
Jul 16, 2015 02:26PM S&P Maintains Issuer Rating on Genesis Energy (GEL) Amid Gulf of Mexico Asset Acquisition Plans
Jul 16, 2015 12:40PM S&P Affirms Ratings on Tupperware Brands (TUP); Sees Credit Metrics Remaining Stable
Jul 16, 2015 10:38AM S&P Downgrades Quality Distribution (QLTY) to 'B'; Notes Higher Leverage on Apax Partners Acquisition
Jul 15, 2015 04:56PM Fitch Affirms Anixter's (AXE) Ratings Following HD Supply (HDS) Announcement
Jul 15, 2015 02:31PM Fitch Raises Outlook on Amgen (AMGN) to Stable; Notes Strong Operational Performance, Debt Reduction Goal
Jul 15, 2015 12:22PM UPDATE: S&P Downgrades Peabody Energy (BTU) to 'BB-'; Outlook to Stable
Jul 15, 2015 11:20AM S&P Lowers Outlook on Celgene (CELG) to Stable Following Receptos (RCPT) M&A Announcement
Jul 15, 2015 10:35AM Celgene (CELG) Ratings Placed on Review for Downgrade by Moody's (RCPT)
Jul 14, 2015 03:11PM Petrobras (PBR) Ratings Affirmed by S&P; Reflects Willingness of Gov't to Lend Support
Jul 14, 2015 11:59AM BorgWarner's (BWA) Move to Acquire Remy Int'l is Credit-Negative Event - Moody's
Jul 14, 2015 08:25AM S&P Affirms Ratings on Black Hills Corp. (BKH) Amid SourceGas Deal
Jul 14, 2015 08:20AM Moody's Reaffirms Ratings on MPLX LP (MPLX) Following MarkWest Energy Acquisition Announcement
Jul 13, 2015 04:28PM MPLX LP (MPLX) Ratings Affirmed by Fitch Following MarkWest Merger Announcement
Jul 13, 2015 03:41PM S&P Lifts Issuer Ratings on GFI Group (GFIG) to 'BBB-', Removes from CreditWatch (BGCP)
Jul 13, 2015 02:11PM S&P Lowers Outlook on Solera Holdings (SLH) to Negative Amid Proposed $850M Unsecured Debt Offering
Jul 13, 2015 12:16PM S&P Lifts Outlook on BT Group plc (BT) to Positive; 2015 Metrics Stronger than Anticipated
Jul 13, 2015 11:21AM Logic, Analog Semiconductor Consolidation Seen Continuing by Moody's (KLAC) (LRCX)
Jul 10, 2015 02:46PM Boulder Brands (BDBD) Ratings Affirmed by Moody's Amid Strategic Realignment
Jul 10, 2015 11:07AM Alcoa's (AA) Q2 Results Inline with Expectations, Moody's Says
Jul 10, 2015 08:57AM Moody's Assigns 'A2' Rating to Recently Offered Anheuser-Busch InBev SA (BUD) Bonds
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