Longbow Research Downgrades General Cable (BGC) to Neutral
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S&P Removes General Cable (BGC) from CreditWatch Negative; Affirms 'BB-' Corp. Rating
January 16, 2015 2:25 PM ESTStandard & Poor's Ratings Services said today it affirmed its 'BB-' corporate credit rating and various issue-level ratings on General Cable Corp. (NYSE: BGC) and removed the ratings from CreditWatch, where we had placed them with negative implications on Oct. 8, 2014. The outlook is negative.
The rating action reflects the company's success in amending its ABL revolving credit facility so that it is able to exclude the repayment of the senior floating rate notes due 2015 and certain other debt payments from its calculation of fixed charges. The company was also successful in... More
