| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers G > Headlines for Genesis Care Pty Ltd. > News item |
S&P trims GenesisCare
S&P said it lowered its ratings for Genesis Care Pty Ltd. (GenesisCare) and the loans it guarantees to CCC from CCC+.
“The downgrade reflects GenesisCare's less than adequate liquidity and our expectation that the company may consider a distressed debt exchange in the next 12 months. We consider the group's liquidity to be less than adequate despite the capital initiatives over the past few months,” S&P said in a press release.
The agency noted GenesisCare’s term loan B is trading at about 50 cents on the dollar and has traded even lower in the secondary markets in recent months.
The outlook is negative.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.