Fitch Ratings Downgrades U.K. to AA from AA+ Jun 27, 2016 04:06PM

Fitch Ratings has downgraded the United Kingdom's Long-Term Foreign and Local Currency Issuer Default Ratings (IDR) to 'AA' from 'AA+'. The Outlooks are Negative. The issue ratings on the UK's senior unsecured Foreign and Local Currency bonds have also been downgraded to 'AA' from 'AA+'. The Country Ceiling has been affirmed at 'AAA' and the Short-Term Foreign Currency IDR at 'F1+'.Under EU credit rating agency (CRA) regulation, the publication of sovereign reviews is... (continue reading...)


S&P Downgrades Bon-Ton Stores (BONT) to 'CCC'; Outlook is Negative Jun 27, 2016 03:53PM

S&P Global Ratings lowered its corporate credit rating on the The Bon-Ton Stores Inc. (Nasdaq: BONT) to 'CCC' from 'CCC+'. The outlook is negative.

At the same time, we lowered the issue-level rating on the company's second-lien senior secured notes to 'CCC-' from 'CCC;, commensurate with the corporate credit rating. The '5' recovery rating remains unchanged, indicative of our expectation for modest recovery toward the lower end of the 10% to 30% range in the event of... (continue reading...)


S&P Upgrades Timken (TKR) to 'BBB'; Outlook is Stable Jun 27, 2016 03:25PM

S&P Global Ratings said that it has raised its corporate credit rating on Canton, Ohio-based Timken Co. (NYSE: TKR) to 'BBB' from 'BBB-'. The outlook is stable.

At the same time, we raised our issue-level ratings on the company's debt to 'BBB' from 'BBB-'.

"We upgraded Timken Co. to reflect that we have revised our assessment of its financial risk profile to modest from intermediate," said S&P Global credit analyst Daniel Lee. The company has been able to maintain stable... (continue reading...)


Jabil Circuit (JBL) Ratings Affirmed by Fitch; Outlook Raised to Positive Jun 27, 2016 03:00PM

Fitch Ratings has affirmed the Long-Term Issuer Default Rating (IDR) and senior unsecured ratings on Jabil Circuit, Inc. (Nasdaq: JBL; Jabil) at 'BBB-'. The Rating Outlook has been revised to Positive from Stable. The affirmation affects $2.3 billion of total debt outstanding as of Feb. 29, 2016. A complete list of rating actions follows at the end of this release.

The affirmation reflects Jabil's substantial scale and scope in the electronic manufacturing services (EMS)... (continue reading...)


UK cut to AA from AAA at S&P; Outlook Negative Jun 27, 2016 01:45PM

(Updated - June 27, 2016 1:45 PM EDT)

UK cut to AA from AAA at S&P; Outlook Negative

From S&P:

  • In the nationwide referendum on the U.K.’s membership of the European Union (EU), the majority of the electorate voted to leave the EU. In our opinion, this outcome is a seminal event, and will lead to a less predictable, stable, and effective policy framework in the U.K. We have reassessed our view of the U.K.'s institutional assessment and now no longer consider it a strength... (continue reading...)

More Credit Ratings

View Older Stories

Jun 27, 2016 11:45AM S&P Upgrades Chesapeake Energy (CHK) to 'CCC' Following Senior Unsecured Note Exchange
Jun 24, 2016 01:27PM Puerto Rico's IDR cut to C from CC at Fitch
Jun 24, 2016 08:50AM S&P to Review Sovereign, Bank and Other Ratings Impacted by Brexit
Jun 24, 2016 08:38AM Brexit Has No Immediate Impact On Republic of Ireland Sovereign Ratings - S&P
Jun 24, 2016 06:57AM U.K Vote Has No Immediate Effect on Domestic Banks - S&P
Jun 24, 2016 01:58AM S&P says Britain's 'AAA' credit rating untenable after Brexit vote: FT
Jun 23, 2016 02:31PM Moody's Lifts Outlook on Lennox Int'l (LII) to Stable; Ratings Affirmed
Jun 23, 2016 02:16PM Moody's Downgrades Avon Products (AVP) CFR to 'Ba3'; Notes Smaller Scale, Separation of NA Business
Jun 23, 2016 12:22PM Fitch Affirms Ratings, Outlook on WPP (WPPGY) Following Recent Review; Sees Diversified Portfolio as Growth Driver
Jun 23, 2016 11:44AM S&P Upgraded Axalta Coating Systems (AXTA) to 'BB'; Business, Financial Risk Assessments Affirmed
Jun 22, 2016 03:08PM QEP Resources' (QEP) Move to Acquire Permian Basin Acreage Seen as Credit-Neutral Move: Fitch
Jun 22, 2016 10:05AM Ocwen Financial (OCN) Ratings, Outlook Affirmed by Fitch
Jun 22, 2016 07:14AM S&P Lifts Outlook on MagnaChip (MX) to Stable; Ratings Affirmed
Jun 22, 2016 06:54AM JD's (JD) Acquisition of Yihaodian is Credit-Positive Development - Moody's
Jun 21, 2016 03:47PM Moody's Downgrades Oi S.A. (OIBR) to 'C' Amid Judicial Recovery Filing
Jun 21, 2016 02:17PM Moody's Lifts Outlook on Albemarle (ALB) to Positive Amid Chemetall Asset Sale
Jun 21, 2016 12:20PM S&P Lowers Outlook on Viacom (VIAB) to Negative; Notes Inability to Reduce, Maintain Adjusted Leverage
Jun 21, 2016 12:11PM S&P Downgrades Oi S.A. (OIBR) to 'D' Following Request for Reorganization
Jun 21, 2016 09:12AM S&P Affirms Rating, Outlook on Suburban Propane Partners (SPH); Sees Volume Increase in Upcoming Heating Season
Jun 21, 2016 07:21AM Russia doesn't merit rating stabilization yet - Moody's
Jun 20, 2016 03:41PM Moody's Affirms Ratings on 24 Classes of AmEx's (AXP) Card ABS Following Costco Shift
Jun 20, 2016 02:40PM Moody's Upgrades ServiceMaster (SERV) to 'Ba3'; Outlook Remains Positive
Jun 20, 2016 02:13PM S&P Lowers Outlook on Plains All American Pipeline (PAA) to Negative; Ratings Affirmed
Jun 20, 2016 12:40PM S&P Lifts Outlook on Booz Allen Hamilton (BAH) to Positive
Jun 20, 2016 12:13PM Fitch Downgrades Oi S.A. (OIBR) to 'C'
Jun 20, 2016 11:10AM S&P Places Israel Chemical (ICL) Ratings on Review for Downgrade
Jun 17, 2016 03:28PM Revlon's (REV) Ratings Place on Review for Downgrade at Moody's
Jun 17, 2016 03:23PM S&P Places Revlon (REV) Ratings on Review for Downgrade Amid Elizabeth Arden (RDEN) Deal
Jun 17, 2016 11:42AM S&P Lowers Outlook on Ralph Lauren (RL) to Negative; Profitability May Not Return in 2017
Jun 16, 2016 05:13PM Moody's Downgrades Cablevision Systems (CVC) Two Notches to 'B1'
Jun 16, 2016 02:26PM Envision Healthcare (EVHC) Ratings Placed on Review for Downgrade by Moody's Amid Amsurg (AMSG) Deal
Jun 16, 2016 12:36PM S&P Lifts Outlook on On Assignment (ASGN) to Stable; Ratings Affirmed
Jun 16, 2016 08:43AM LifePoint Health (LPNT) Ratings Affirmed by Fitch Following Recent Review
Jun 16, 2016 07:43AM Windstream's (WIN) CS&L Stake Sale is Credit-Positive Move - Moody's
Jun 15, 2016 04:48PM S&P Lowers Outlook on Iconix Brand Group (ICON) to Negative; Ratings Affirmed
Jun 15, 2016 03:39PM S&P Downgrades Key Energy Services (KEG) to 'CC'; Outlook is Negative
Jun 15, 2016 02:11PM Moody's Upgrades Global Brass & Copper (BRSS) to 'B1'; Outlook Remains Stable
Jun 15, 2016 12:32PM S&P Affirms Ratings, Outlook on Dynegy (DYN); Rates Proposed Senior Secured Term Loan
Jun 15, 2016 11:36AM Fitch Places Microsoft (MSFT) Ratings on Review for Downgrade Amid LinkedIn (LNKD) Deal
Jun 15, 2016 09:53AM S&P Assigns 'B-' Corp. Rating to Clear Channel Outdoor Holdings (CCO); Outlook Stable
Jun 15, 2016 09:30AM Moody's Upgrades Nokia (NOK) to 'Ba1'; Outlook Remains Stable
Jun 14, 2016 03:38PM S&P Downgrades SAExploration (SAEX) to 'CC'; Outlook Remains Negative
Jun 14, 2016 03:17PM S&P Upgrades Stone Energy (SGY) to 'CCC-'; Outlook Negative
Jun 14, 2016 11:09AM Moody's Lifts Outlook on NXP Semi's (NXPI) to Positive Amid Asset Divestiture Announcement
Jun 14, 2016 08:53AM S&P Places Symantec (SYMC) Ratings on Review for Downgrade
Jun 14, 2016 08:49AM S&P Assigns 'AA+' Rating to Apple's (AAPL) $1.38B Notes Offering
Jun 14, 2016 06:58AM S&P Upgrades AK Steel (AKS) to 'B'; Outlook Stable
Jun 13, 2016 04:39PM Microsoft (MSFT) Ratings Affirmed by S&P Amid Move to Acquire Linkedin (LNKD)
Jun 13, 2016 04:15PM S&P Places LinkedIn (LNKD) on CreditWatch Positive Amid Microsoft (MSFT) Deal
Jun 13, 2016 02:51PM S&P Downgrades W&T Offshore (WTI) to 'CC'; Outlook Negative
View Older Stories