|Bid||0.3050 x 0|
|Ask||0.3250 x 0|
|Day's Range||0.3000 - 0.3250|
|52 Week Range||0.2550 - 0.4200|
|Beta (3Y Monthly)||0.10|
|PE Ratio (TTM)||1.05|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of IPC Corp. New York, May 16, 2019 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of IPC Corp. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.
Moody's Investors Service ("Moody's") downgraded IPC Corp.'s (IPC) Corporate Family Rating (CFR) to Caa2 from B3 and Probability of Default Rating (PDR) to Caa3-PD from B3-PD. The company's first lien credit facilities were downgraded to Caa1 from B2, and second lien credit facilities were downgraded to Ca from Caa2. Moody's expects a decline in revenue and profit margins in fiscal 2019 (ending September) which will result in leverage increasing from 8.2x (Moody's adjusted) in fiscal 2018 to about 10x in fiscal 2019.