|Bid||783.00 x 0|
|Ask||760.40 x 0|
|Day's Range||751.00 - 762.00|
|52 Week Range||739.60 - 762.00|
|Beta (3Y Monthly)||0.92|
|PE Ratio (TTM)||26.60|
|Forward Dividend & Yield||22.00 (3.03%)|
|1y Target Est||825.10|
Rating Action: Moody's affirms Curvature ratings (incl. New York, April 04, 2019 -- Moody's Investors Service ("Moody's") said the recently executed amendment to Curvature, Inc.'s (Curvature) second lien notes purchase agreement constitutes a distressed exchange. The rating agency affirmed its ratings for the company, including the Caa3 Corporate Family Rating (CFR) and Caa3-PD Probability of Default Rating (PDR), as well as the Caa2 senior secured first lien credit facility ratings, but appended the PDR with an "/LD" designation (to Caa3-PD/LD) to reflect the limited default event.
GRAND RAPIDS, Mich., Dec. 10, 2018 /PRNewswire/ -- Acrisure, LLC, a leading national and global insurance brokerage, today announced that a group of investors led by funds managed by Blackstone's GSO Capital Partners and Tactical Opportunities businesses ("Blackstone"), have significantly increased their investment in the company. Partners Group (on behalf of its clients) also increased their investment, and along with Harvest Partners SCF, who is also investing to support this transaction, the three investors now have invested or committed to $2 billion of preferred equity in the company. The investment implies a valuation for Acrisure of more than $7 billion and, pro forma for this transaction, Acrisure remains over 83% owned by its management team and agency partners. Acrisure has grown from $650 million in revenue to approximately $1.5 billion in revenue over the past two years. The company completed 92 acquisitions in 2017 and expects to complete over 100 by year-end 2018. In 2016, Acrisure completed a $2.9 billion management-led buyout (MBO) in a transaction led by Greg Williams, Acrisure's President and Chief Executive Officer and co-founder, and a consortium of minority investors. Blackstone and Partners Group were part of the initial group of investors supporting the MBO.
Moody's Investors Service ("Moody's") downgraded the ratings of Form Technologies LLC ("Form Technologies," previously named Dynacast International LLC), including the Corporate Family Rating (CFR) to B3 from B2 and the Probability of Default Rating to B3-PD from B2-PD. Concurrently, Moody's downgraded the rating on the company's first-lien senior secured revolving credit facility and term loan to B2 from B1 and second-lien senior secured term loan to Caa2 from Caa1. The ratings downgrade was driven by the expectation that financial leverage will remain elevated above 5.7x (including Moody's standard adjustments) on a sustained basis due to the company's increase in funded debt levels.
Moody's Investors Service ("Moody's") announced that it has assigned the following provisional ratings to notes to be issued by Penta CLO 5 Designated Activity Company (the "Issuer"). ...
Moody's Investors Service ("Moody's) confirmed H-Food Holdings, LLC's (Hearthside) ratings, including its B3 Corporate Family Rating and B3-PD Probability of Default. Moody's also assigned a B2 rating to the $565 million first-lien term loan add on. Proceeds from the incremental first-lien term loan, a new unrated $250 million second-lien loan, and roughly $275 million of new cash equity from sponsors Charlesbank Capital Partners and Partners will fund the $1.1 billion acquisition of Greencore USA.
LONDON/FRANKFURT, Nov 6 (Reuters) - EQT's owners have invited investment banks to pitch to take the Swedish private equity firm public following a strategic review, sources familiar with the matter told Reuters. Banks are scheduled to bid next week for mandates on the potential initial public offering (IPO) of EQT, which was established in 1994, they said. EQT, which is owned by senior investment advisory professionals of EQT Partners with Investor AB holding a minority stake, declined to comment.
Moody's Investors Service ("Moody's) placed Matterhorn Merger Sub,LLC's now known as H-Food Holdings (Hearthside) ratings on review for downgrade. This follows the company's announcement on Monday that it signed a definitive agreement to acquire Greencore USA, a leader in frozen contract packaging for approximately $1.1 billion. Greencore USA is the US unit of Greencore Group plc, an Ireland-based public company.
FRANKFURT/LONDON, Oct 17 (Reuters) - German elevator parts maker Wittur has attracted interest from private equity groups Partners Group and Cinven ahead of an expected sale by owner Bain Capital, several people close to the matter said. Elevators have become a lucrative niche within the capital goods sector, yielding double digit profit margins as demand for high-rises and state-of-the-art elevator technology continues to grow.
Moody's Investors Service ("Moody's") has today assigned a first-time B3 corporate family rating (CFR) and a B3-PD probability of default rating (PDR) to Alpha AB Bidco B.V. ("Alpha", or "group"), an intermediate holding company of Netherlands-based Ammeraal Beltech ("Ammeraal") and Italian Megadyne Group ("Megadyne"). Concurrently, Moody's has assigned B2 instrument ratings to the group's proposed EUR830 million senior secured Term Loan B (TLB, maturing 2025) and proposed EUR150 million senior secured revolving credit facility (RCF, maturing 2025). The outlook on all ratings is stable.
Moody's Investors Service ("Moody's") said today that Packaging Coordinators Midco, Inc.'s ("PCI") $75 million term loan add-on to fund the acquisition of Sherpa Clinical Packaging ("Sherpa"), a San Diego based provider of clinical packaging and clinical trial materials management company, is credit negative. Pro forma for this transaction for the twelve months ended June 30, 2018 Moody's adjusted debt-to-EBITDA will increase to 8.0x from 7.7x, a level which was already high for its rating.
Moody's Investors Service ("Moody's") said today that KUEHG Corp.'s (dba KinderCare Education or "KinderCare") $205 million term loan add-on to fund the acquisition of Rainbow Child Care Center ("Rainbow"), the 8th largest early education provider in the US, is credit negative given the adverse impact on leverage. Pro forma for this transaction for the twelve months ended June 30, 2018,Moody's adjusted debt-to-EBITDA will increase to 6.0x from 5.6x, a level that remains below Moody's downward rating factor.
Moody's Investors Service downgraded its ratings for Curvature, Inc., including the company's Corporate Family Rating (to Caa3, from B3) and Probability of Default Rating (to Caa3-PD, from B3-PD). Moody's also downgraded its ratings for the company's senior secured credit facilities (to Caa2, from B2). The downgrades reflect Curvature's weak and eroding liquidity profile, and Moody's view that the company's capital structure is likely unsustainable in its current form.
By Kristen Haunss NEW YORK, Aug 6 - Partners Group has hired Tom Stein, head of capital markets at Guggenheim Capital Partners, for its private debt group, according to a company spokesperson. Stein, who ...
Moody's Investors Service, ("Moody's") has today affirmed B2 Corporate Family Rating (CFR) and B2-PD Probability of Default Rating (PDR) of Foncia Management SAS, parent company of Foncia group ("the company", "Foncia"), a leading provider of residential real estate services primarily in France, following the company's announcement to borrow an incremental EUR80 million under its senior secured first-lien term loan. Concurrently, Moody's affirmed the B2 ratings on the company's senior secured first-lien EUR898.7 million term loan B3 (upsized by EUR80 million), EUR50 million senior secured acquisition/capex facility and EUR150 million revolving credit facility (RCF) borrowed by Foncia.
Moody's Investors Service ("Moody's") assigned GlobalLogic Holdings Inc.'s (new) ("GlobalLogic") the following ratings: B2 corporate family rating ("CFR"), B2-PD probability of default rating and a B2 rating to the proposed first lien credit facilities. The rating outlook is stable.
Cheerleading uniform retailer Varsity Brands Inc said on Tuesday it will be bought by private equity firm Bain Capital. Financial terms of the deal were not disclosed. CNBC earlier reported that Bain Capital ...
Comptroller of the Currency Joseph Otting said Thursday that he does not expect to make changes to the federal leveraged lending guidance as he does not see revisions necessary since the guidelines currently allow for flexibility for banks. Otting said Thursday he understands leveraged lending guidance to, in fact, be just that, and as such banks may occasionally operate outside those parameters. “I think it was always intended to be guidance,” Otting said.
Moody's Investors Service assigned a Caa2 rating to Matterhorn Merger Sub, LLC's proposed $375 million unsecured notes. Matterhorn Merger Sub is the legal entity which will acquire H-Food Holdings, LLC, parent of Hearthside Group Holdings, LLC or "Hearthside".