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Prospect News home > News index > List of issuers G > Headlines for GP Investments, Ltd. > News item |
Fitch ups GP Investments
Fitch Ratings said it upgraded GP Investments Ltd.'s foreign-currency issuer default rating to B+ from B and $190 million perpetual notes to B+/RR4 from B/RR4.
The outlook is stable.
The upgrade reflects the enhanced recurring cash flow of the company boosted by a larger size of assets under management and still conservative capital ratios, according to the agency.
GP's franchise and management experience also bodes well for positive prospects, Fitch said.
Ratings are constrained by a concentrated investment portfolio, volatile cash flow and the uncertainty of the maturation period of the investment portfolio and GP's ability to realize investment gains, the agency said.
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