Close

Options with increasing in volume

Go back to Options with increasing in volume

S&P Downgrades Corrections Corp. (CXW) to 'BB'; Places Ratings on CreditWatch Negative

August 19, 2016 3:43 PM EDT

Highlights:

The U.S. Department of Justice (DOJ) has directed Federal Bureau of Prisons (BOP) officials to decline to renew or substantially reduce the scope of contracts with private prison operators in an effort to reduce--and ultimately end--the use of private prisons to house the federal prison population.Although it appears the short-term negative impact will be moderate, we believe there is risk that other government agencies, including the United States Marshals Service (USMS), could consider similar plans to reduce use of private prison operators, such as U.S.-based Corrections Corp. of America... More