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

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

Research Update: Jefferies Finance 'BB-' Rating Affirmed And Removed From CreditWatch On Improved Funding And Liquidity; Outlook Negative - S&P Global Ratings’ Credit Research
Research Update: Jefferies Finance 'BB-' Rating Affirmed And Removed From CreditWatch On Improved Funding And Liquidity; Outlook Negative
Published May 19, 2020
5 pages (2057 words) — Published May 19, 2020
Price US$ 225.00  |  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. On May 19, 2020, S&P Global Ratings affirmed its 'BB-' issuer credit and senior secured debt ratings and its 'B+' senior unsecured debt

  
Brief Excerpt:

...- 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....

  
Report Type:

Research Update

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. "Research Update: 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/Research-Update-Jefferies-Finance-BB-Rating-Affirmed-And-Removed-From-CreditWatch-On-Improved-Funding-And-Liquidity-Outlook-Negative-2442863>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: 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/Research-Update-Jefferies-Finance-BB-Rating-Affirmed-And-Removed-From-CreditWatch-On-Improved-Funding-And-Liquidity-Outlook-Negative-2442863>
  
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