S&P drops 3i

Standard & Poor's said it lowered its long-term counterparty credit rating on 3i Group plc to A from A+.

At the same time, the A-1 short-term counterparty credit rating was affirmed, the agency noted.

The outlook is negative.

According to S&P, the downgrade reflects negative trends in 3i's performance, its expectation that 3i's leverage may remain elevated, and its increasingly negative assessment of the outlook for the private equity industry.

© 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.