Fitch eyes five issuers

Fitch Ratings said it placed the ratings of Adams Homes, Inc., Arada Sukuk Ltd., Arada Developments LLC, Elanco Animal Health Inc. and Elanco US Inc. under criteria observation.

The placements follow the agency converting its 'Exposure Draft: Corporate Recovery Ratings and Instrument Ratings Criteria' to final criteria on Oct. 13.

“The UCO indicates that the existing instrument ratings may change as a direct result of the final criteria. It does not indicate a change in the underlying credit profile, nor does it affect existing outlooks or rating watches.

“Fitch will review all ratings placed UCO within six months. Not all instrument ratings UCO will have a rating change upon the UCO resolution,” the agency said in a press release.

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