Tinder, Match.com owner seeks date with investors

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S&P Downgrades IAC/InterActive (IACI) to 'BB' Amid Match Group Asset Divestiture Plans

October 19, 2015 10:54 AM EDT

Standard & Poor's Ratings Services said that it lowered its corporate credit rating on IAC/InterActiveCorp. (NASDAQ: IACI) to 'BB' from 'BB+'. The rating outlook is stable.

At the same time, we lowered our issue-level rating on the company's unsecured debt to 'BB' from 'BB+' and revised the recovery rating to '4' from '3'. The '4' recovery rating indicates our expectation for average recovery (30%-50%; lower half of the range) of principal in the event of a payment default.

"The downgrade is based on our expectation that IAC will... More