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Prospect News home > News index > List of issuers C > Headlines for Citadel Kensington Global Strategies Fund Ltd. > News item |
Fitch affirms Citadel
Fitch Ratings said it affirmed the long-term issuer default ratings of Citadel Kensington Global Strategies Fund Ltd. and Citadel Wellington LLC at BBB- and the senior debt of Citadel Finance Ltd. at BBB-.
The outlook is stable.
The affirmations reflect the resurgence in Kensington and Wellington fund performance, reduced risk profile, lower leverage and improved liquidity, the agency said.
The financial performance of both the Kensington and Wellington funds has been generally positive following the only loss year in 2008, the agency added. Profitability rebounded strongly in fiscal year 2009 and was sustained in FY 2010, despite four months of negative returns in FY 2010.
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