PE Debt Watch (Upgrades and Downgrades)
As usual, we have a week’s worth of ratings actions on the debt of LBO-backed companies from ratings agencies Standard & Poor’s Ratings Services and Moody’s Investors Service. This week is apparently companies owned by Apollo, Warburg Pincus, JLL Partners, Arcapita and Kelso & Co. received ratings changes. Apollo saw the most action, with three companies on the list. Jacuzzi Brands was upgraded after a recap/distressed debt exchange, Noranda Aluminum Holding Corporation received an upgrade on improved performance, and Hexion’s outlook was changed from negative to stable, thanks to a debt restructuring.
29 January 2010•3 mins read
