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S&P ups NXT Capital, withdraws rating
S&P said it raised its issuer credit rating on NXT Capital Inc. to BB+ from BB-.
“The two-notch upgrade reflects the company’s reduced leverage after paying off its $369 million senior secured term loan and our view of incremental group support provided by ORIX, NXT Capital's new parent. We also removed the ratings from CreditWatch, where we placed them with positive implications on July 2, 2018,” S&P said in a news release.
“We subsequently withdrew the ratings at the company's request.”
The outlook was stable at the time of withdrawal.
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