Research Update: Confie Seguros Holding II Co. Ratings Lowered To 'B-' From 'B' On Tightening Covenant Cushion; The Outlook Is Stable - S&P Global Ratings’ Credit Research

Research Update: Confie Seguros Holding II Co. Ratings Lowered To 'B-' From 'B' On Tightening Covenant Cushion; The Outlook Is Stable

Research Update: Confie Seguros Holding II Co. Ratings Lowered To 'B-' From 'B' On Tightening Covenant Cushion; The Outlook Is Stable - S&P Global Ratings’ Credit Research
Research Update: Confie Seguros Holding II Co. Ratings Lowered To 'B-' From 'B' On Tightening Covenant Cushion; The Outlook Is Stable
Published Aug 18, 2017
Published Aug 18, 2017
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Abstract:

Confie Seguros Holding II Co.'s operating performance has eroded modestly and is trailing our 2017-2018 expectations. At the same time, its covenant cushion under its total net leverage ratio has tightened and could remain under 10% through 2018. As a result, we are lowering our rating on Confie Seguros Holding II Co. and its parent Confie Seguros Holding to 'B-' from 'B'. The stable outlook reflects our expectation for EBITDA to grow modestly over the next 12 months while the company seeks to conserve liquidity through fewer acquisitions, allowing covenant headroom to strengthen incrementally. On Aug 18, 2017, S&P Global Ratings lowered its long-term corporate credit rating on Confie Seguros Holding II Co. and its parent Confie Seguros Holding Co.

  
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Research Update

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Global Issuers
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MLA:
S&P Global Ratings’ Credit Research. "Research Update: Confie Seguros Holding II Co. Ratings Lowered To 'B-' From 'B' On Tightening Covenant Cushion; The Outlook Is Stable" Aug 18, 2017. Alacra Store. Jan 24, 2021. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Confie-Seguros-Holding-II-Co-Ratings-Lowered-To-B-From-B-On-Tightening-Covenant-Cushion-The-Outlook-Is-Stable-1903140>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Confie Seguros Holding II Co. Ratings Lowered To 'B-' From 'B' On Tightening Covenant Cushion; The Outlook Is Stable Aug 18, 2017. New York, NY: Alacra Store. Retrieved Jan 24, 2021 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Confie-Seguros-Holding-II-Co-Ratings-Lowered-To-B-From-B-On-Tightening-Covenant-Cushion-The-Outlook-Is-Stable-1903140>
  
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