Jefferies Finance 'BB-' Rating Affirmed And Removed From CreditWatch On Improved Funding And Liquidity; Outlook Negative - S&P Global Ratings’ Credit Research

Jefferies Finance 'BB-' Rating Affirmed And Removed From CreditWatch On Improved Funding And Liquidity; Outlook Negative

Jefferies Finance 'BB-' Rating Affirmed And Removed From CreditWatch On Improved Funding And Liquidity; Outlook Negative - S&P Global Ratings’ Credit Research
Jefferies Finance 'BB-' Rating Affirmed And Removed From CreditWatch On Improved Funding And Liquidity; Outlook Negative
Published May 19, 2020
4 pages (1926 words) — Published May 19, 2020
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

Jefferies Finance LLC (JFIN) has added $1.2 billion of credit facilities to support underwriting commitments and provide liquidity for revolver draws. We believe the market for syndicated loans has improved since we placed the ratings on CreditWatch with negative implications on April 3, 2020, and revolver draws will start to normalize. We are affirming our 'BB-' issuer credit and senior secured debt ratings and 'B+' senior unsecured debt ratings and removing them from CreditWatch with negative implications. The negative outlook reflects JFIN's increased leverage, still challenging market conditions, and continued economic fallout related to the COVID-19 pandemic. NEW YORK (S&P Global Ratings) May 19, 2020--, S&P Global Ratings said today it affirmed its 'BB-' issuer credit and senior secured debt

  
Brief Excerpt:

...May 19, 2020 - Jefferies Finance LLC (JFIN) has added $1.2 billion of credit facilities to support underwriting commitments and provide liquidity for revolver draws. - We believe the market for syndicated loans has improved since we placed the ratings on CreditWatch with negative implications on April 3, 2020, and revolver draws will start to normalize. - We are affirming our '##-' issuer credit and senior secured debt ratings and 'B+' senior unsecured debt ratings and removing them from CreditWatch with negative implications. - The negative outlook reflects JFIN's increased leverage, still challenging market conditions, and continued economic fallout related to the COVID-19 pandemic. NEW YORK (S&P Global Ratings) May 19, 2020--, S&P Global Ratings said today it affirmed its '##-' issuer credit and senior secured debt ratings and its 'B+' senior unsecured debt ratings on Jefferies Finance LLC (JFIN). At the same time, we removed the ratings from CreditWatch, where we had placed them with...

  
Report Type:

Ratings Action

Issuer
Jefferies Finance LLC
Sector
Global Issuers
Country
United States
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Jefferies Finance 'BB-' Rating Affirmed And Removed From CreditWatch On Improved Funding And Liquidity; Outlook Negative" May 19, 2020. Alacra Store. May 02, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Jefferies-Finance-BB-Rating-Affirmed-And-Removed-From-CreditWatch-On-Improved-Funding-And-Liquidity-Outlook-Negative-2442862>
  
APA:
S&P Global Ratings’ Credit Research. (). Jefferies Finance 'BB-' Rating Affirmed And Removed From CreditWatch On Improved Funding And Liquidity; Outlook Negative May 19, 2020. New York, NY: Alacra Store. Retrieved May 02, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Jefferies-Finance-BB-Rating-Affirmed-And-Removed-From-CreditWatch-On-Improved-Funding-And-Liquidity-Outlook-Negative-2442862>
  
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