The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:BGI Deal Prompts Cut in BlackRock's S&P Rating Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, June 12, 2009

BGI Deal Prompts Cut in BlackRock's S&P Rating

by: Meredith Mazzilli

Standard & Poor's cut BlackRock's debt rating by a notch on the heels of the New York money manager's deal to acquire Barclays Global Investors, Reuters reports. BlackRock's long-term ratings fell one level to A-plus and its short-term ratings dropped to A-1.

The drop reflects concerns about the company's refinancing risks, as the $13.5 billion deal would would add approximately $3 billion in debt to BlackRock's balance sheet.

S&P's outlook is negative, suggesting the possibility of additional downgrades.

“We believe the overall debt burden is moderate, but initial credit metrics for the combined organization place BlackRock into the ‘A’ rating category rather than the ‘AA’ category,” Reuters quoted S&P as saying. 

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2021: Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2021
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use