U.S. ratings agency Standard & Poor's warned on Friday it may cut the credit rating of billionaire investor Carl Icahn's Icahn Enterprises to junk status after the portfolio absorbed heavy commodity sector losses in the last few months.
S&P placed its triple-B-minus issuer credit rating and senior unsecured debt rating of Icahn Enterprises on "CreditWatch with negative implications," the agency said in a statement.
The news weighed on Icahn Enterprises' stock price, pushing it down nearly 11 percent in afternoon trading to $48.75. In the last 12 months the stock price has been cut in half mainly because its energy investments have been hit by falling commodity prices.
For Free Signals and other KLSE online updates, click here OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
S&P placed its triple-B-minus issuer credit rating and senior unsecured debt rating of Icahn Enterprises on "CreditWatch with negative implications," the agency said in a statement.
The news weighed on Icahn Enterprises' stock price, pushing it down nearly 11 percent in afternoon trading to $48.75. In the last 12 months the stock price has been cut in half mainly because its energy investments have been hit by falling commodity prices.
No comments:
Post a Comment