S&P alters Kennedy-Wilson view to stable

S&P said it changed Kennedy-Wilson Holdings Inc.’s outlook to stable from negative and affirmed its ratings, including the BB+ issuer rating.

“Kennedy-Wilson Holdings Inc. resumed transaction activity after a temporary Covid related halt for part of 2020, resulting in improved credit protection metrics in 2021. Over the past 12 months as of June 30, 2021, S&P Global Ratings' adjusted debt to EBITDA improved to 6.7x from 11.3x a year before and from 10.1x at year-end 2020,” S&P said in a press release.

The stable outlook, the agency said, considers an expectation for S&P Global Ratings' adjusted debt to EBITDA to generally remain in the 7.5x-9.5x range.

© 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.