S&P hikes, pulls Greenhill

S&P said it raised Greenhill & Co. Inc.’s issuer rating to BBB- from BB- and removed it from CreditWatch where it was placed with positive implications on May 26 and withdrew the rating.

Mizuho Financial Group Inc. closed its acquisition of Greenhill on Dec. 1.

“We raised our issuer credit rating on Greenhill because we now consider it to be strategically important to Mizuho under our group rating methodology. The rating also reflects our expectation that Greenhill will benefit from the enhanced scale provided by its association with Mizuho,” S&P said in a press release.

At the time of withdrawal, the outlook was stable.

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