NEW YORK (Standard&Poor's) June 5, 2013--Standard&Poor's Ratings Services today said its ratings and outlook on Clipper Acquisitions Corp. (BB+/Stable/--) are unaffected by the asset manager's plans to reprice its $354 million term loan. The company would realize immaterial--approximately $3.5 million--interest savings under the proposed new pricing. That said, due to improvement in its financial profile in first-quarter 2013 and the positive financial impact of the Special Situation Funds it acquired in December 2012, the pro forma EBITDA to interest coverage and debt to EBITDA leverage for the 12 months ended March 31, 2013, would be 14.3x and 2.3x, respectively. These metrics compare favorably with EBITDA to interest coverage and debt to EBITDA leverage of 9.3x and
