Fitch Cuts Peabody Energy’s Long-Term IDR to ‘CC’
Fitch Ratings has downgraded Peabody Energy’s long-term Issuer Default Rating (IDR) to ‘CC’ from ‘CCC’. Approximately $8.4 billion in face amount of obligations is affected by the rating actions. Fitch...
View ArticleFitch: Energy Sector Won’t Materially Impact Consumer Lenders
Fitch Ratings reported that stress in the U.S. energy sector should not materially impact the credit profiles of large consumer lenders with national footprints. Recent evidence of weakening consumer...
View ArticleFitch Rates Calpine’s New Term Loan ‘BB+’
Fitch Ratings assigned a ‘BB+’ rating to Calpine’s $562 million first-lien term loan facility maturing May 31, 2023 and $625 million 5.25% senior secured notes due June 1, 2026. The term loan amortizes...
View ArticleFitch Rates J.C. Penney’s New $1.69B Term Loan ‘BB+’
Fitch Ratings upgraded the issuer default ratings (IDRs) of J.C. Penney to ‘B+’ from ‘B’ given Fitch’s continued confidence in the company’s ability to generate $950 million to $1 billion in EBITDA and...
View ArticleFitch: NewStar on Rating Watch Following Acquisition by First Eagle
Fitch Ratings placed NewStar Financial’s Long-Term and Short-Term Issuer Default Ratings ‘BB-‘ and ‘B’, respectively, on rating watch evolving following the announcement that First Eagle Investment...
View ArticleFitch: Large U.S. Banks Keeping a Lid on Retail Sector Exposure
On the eve of the holiday shopping season, Fitch Ratings says the retail sector is unlikely to threaten banks’ ratings given their limited exposure, strong core earnings and healthy capital levels....
View ArticleFitch Downgrades GE to ‘A+/F1′; Outlook Negative
Fitch Ratings downgraded the long- and short-term issuer default ratings (IDRs) for General Electric (GE) and GE Capital Global Holdings (GE Capital) to ‘A+’ and ‘F1′ from ‘AA-‘ and ‘F1+’. The rating...
View ArticleFitch: Bank Ratings Won’t Be Affected by Dodd-Frank Changes in Short Term
According to a Fitch Ratings report, small to mid-size banks should not experience any ratings issues in the short term following the passage of legislation lessening the burden of financial...
View ArticleFitch Has Negative View of BDCs Increasing Leverage
Fitch Ratings will have a negative view of business development companies (BDCs) that intend to increase their leverage following the passage of the new U.S. $1.3 billion spending bill. The new...
View ArticleFitch: Leveraged Loan Risks Appear Manageable for Now
According to Fitch Ratings, leveraged loan risks to the U.S. banking system are manageable in the near term. However, negative rating actions for banks would become more likely in the event of a...
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