Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers C > Headlines for Codere SA > News item |
S&P drops Codere
Standard & Poor's said it lowered its long-term corporate credit and senior unsecured debt ratings on Codere SA to B+ from BB- and placed them on Creditwatch with negative implications.
The agency said that the existing recovery rating of 3 on the senior unsecured debt of Codere Finance (Luxembourg) SA remains unchanged.
According to S&P, the one-notch downgrade reflects Codere's aggressive financial profile and a probable shortfall in achieving target leverage ratios at year-end 2008.
© 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.