E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 3/19/2020 in the Prospect News Investment Grade Daily.

S&P lowers Lazard

S&P said it downgraded Lazard Group LLC and its unsecured debt ratings to BBB+ from A-.

Lazard finished 2019 with leverage slightly above 1.5x, S&P’s downside trigger for the company, and it predicts lower cash flow generation will lead the company to end 2020 with leverage above that threshold.

The outlook is stable.


© 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.