...Fitch Ratings placed the `BB+' issuer default rating (IDR) of AEL and `BBB+' insurer financial strength (IFS) ratings of its insurance operating subsidiaries on Rating Watch Negative. The rating actions follows AEL's recent announcement that the company, its chairman, David Noble, and its CEO and president, Wendy Carlson, received a Wells Notice from the U.S. Securities and Exchange Commission (SEC) in connection with its ongoing investigation of certain disclosures regarding transactions involving AEL and American Equity Investment Service Company. The Wells Notice indicates that SEC staff is considering recommending a civil enforcement action against the company and certain employees alleging violations against various federal securities laws. The Rating Watch Negative reflects Fitch's belief that there is a level of uncertainty that exists with respect to ramifications of the Wells Notice including, but not limited to, the potential result of a change in AEL's leadership, which may materially...
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| Report Type: | Newsletter
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| Company(ies): | American Equity Investment Life Holding Company, Crown Holdings, Inc., Energy Transfer Equity, LP, Energy Transfer Partners L.P., Flowserve Corporation, Frontier Communications Corporation, Hayes Lemmerz International, Inc., Lifepoint Hospitals, Inc., MGM Mirage Inc, Owens-Illinois Glass Container North America, Sovran Self Storage, Inc., The Goodyear Tire & Rubber Company, US Airways Group, Inc., Windstream Corporation
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| Ticker(s): | AEL , CCK , ETE , ETP , FLS , FTR , GT , HAYZQ , LCC , LPNT , MGM , SSS , WIN
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| Issuer: | Windstream Corporation
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| Free Sample: |
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| Format: | | PDF |  |
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