Research Update: Advisor Group Downgraded To 'B-' On Expected Impact Of Rate Cuts And Declining Markets; Outlook Stable - S&P Global Ratings’ Credit Research

Research Update: Advisor Group Downgraded To 'B-' On Expected Impact Of Rate Cuts And Declining Markets; Outlook Stable

Research Update: Advisor Group Downgraded To 'B-' On Expected Impact Of Rate Cuts And Declining Markets; Outlook Stable - S&P Global Ratings’ Credit Research
Research Update: Advisor Group Downgraded To 'B-' On Expected Impact Of Rate Cuts And Declining Markets; Outlook Stable
Published Mar 30, 2020
5 pages (1927 words) — Published Mar 30, 2020
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

Advisor Group's earnings, debt service capacity and leverage have been hurt by COVID-19-related economic and market declines as well as by the Federal Reserve's lowering of the fed funds rate. We are lowering our rating on Advisor Group to 'B-' from 'B'. At the same time, we are lowering our rating on the company's first-lien term loan and notes to 'B-' from 'B' and our rating on the senior unsecured notes to 'CCC' from 'CCC+'. The stable outlook reflects our expectation for Advisor Group's earnings and debt service capacity to be under pressure in 2020 but for the company to stay in a sufficient liquidity position and maintain comfortable cushion relative to the springing leverage covenant on its revolving credit

  
Brief Excerpt:

...Research Update: Advisor Group Downgraded To 'B-' On Expected Impact Of Rate Cuts And Declining Markets; Outlook Stable...

  
Report Type:

Research Update

Issuer
Advisor Group Holdings Inc.
GICS
Asset Management & Custody Banks (40203010)
Sector
Global Issuers
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: Advisor Group Downgraded To 'B-' On Expected Impact Of Rate Cuts And Declining Markets; Outlook Stable" Mar 30, 2020. Alacra Store. May 04, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Advisor-Group-Downgraded-To-B-On-Expected-Impact-Of-Rate-Cuts-And-Declining-Markets-Outlook-Stable-2404105>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Advisor Group Downgraded To 'B-' On Expected Impact Of Rate Cuts And Declining Markets; Outlook Stable Mar 30, 2020. New York, NY: Alacra Store. Retrieved May 04, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Advisor-Group-Downgraded-To-B-On-Expected-Impact-Of-Rate-Cuts-And-Declining-Markets-Outlook-Stable-2404105>
  
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