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Friday, December 19, 2003|
Rating Agency Changes Its Mind About Janus
Standard & Poor's Ratings downgraded its rating of Janus Capital Group Inc. to negative from stable. At the same time, Standard & Poor's affirmed its 'BBB+' senior unsecured debt and 'BBB+/A-2' counterparty credit ratings on Denver, Co.-based Janus.
But S&P doesn't believe its new rating is negative.
"The ratings on Janus continue to reflect the company's strong earnings power and cash-flow generation, although currently under pressure, and comparatively good overall financial performance and financial measures," said Standard & Poor's credit analyst Jonathan Ukeiley.
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