Weekly Downgrade Wrap-Up (Two More Withdrawals)
As usual, we have a week’s worth of ratings actions on buyout-backed companies from Standard & Poor’s and Moody’s Investor Services. This week was slow with two little downgrades and two withdrawals. Company: Yell Group PLC Sponsor: Apax Partners Downgrade: S&P lowered its long-term corporate credit ratings to 'B' from 'B+'. Highlights: "The downgrade reflects our concerns about the faster-than-expected deterioration of Yell's operating performance and liquidity profile, which is no longer commensurate with a 'B+' rating," said Standard & Poor's credit analyst Manuela Gabetta.
2 July 2009•2 mins read
