Fitch changes Antares view

Fitch Ratings said it affirmed Antares Holding LP's long-term issuer default rating at BBB, senior secured debt rating at BBB and senior unsecured debt rating at BBB-.

The outlook was revised to negative from stable.

The agency said the revision reflects Fitch's belief that Antares has experienced an increase in revolver draws in recent weeks from underlying portfolio companies looking to shore up liquidity in the current uncertain environment, which has likely resulted in a weaker liquidity profile and higher leverage.

Additionally, Fitch said it believes the economic impact of the coronavirus pandemic will generate higher credit losses and weaker earnings for Antares over the near to medium term, which could hurt the firm's ability to maintain leverage within its targeted 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.