S&P assigns Arthur J. Gallagher BBB

S&P said it assigned its BBB issuer credit rating to Arthur J. Gallagher & Co.

The rating reflects S&P’s assessments of the company’s business risk profile and its financial risk profile, the agency said.

“The stable outlook reflects our expectation that AJG’s competitive position will remain at its current level due to sustained revenue growth and stable pro forma adjusted EBITDA margins of 26%-28%. It also incorporates our view that credit protection measures (on a pro forma adjusted basis) will be in line with intermediate leverage of 2.5x and 3x and coverage on a run-rate basis of 7x-8x,” S&P said in a press release.

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