Nord Anglia Education (NORD) Reports In-Line Q1 EPS; Issues FY16 Outlook
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S&P Downgrades Nord Anglia Education (NORD) to 'B'; Sees Leverage Remaining High in Near Term
January 27, 2016 10:09 AM ESTStandard & Poor's Ratings Services said that it had lowered its long-term corporate credit rating on Nord Anglia Education Inc. (NYSE: NORD) to 'B' from 'B+'. The outlook is stable. We also lowered our long-term issue rating on the company's guaranteed loans, notes, and revolving credit facility to 'B' from 'B+'. We affirmed our 'cnBB-' long-term Greater China regional scale ratings on the company and its debt.
At the same time, we affirmed our recovery rating on Nord Anglia's existing bank loans at '4H', indicating our expectations are at the... More
