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BGC Partners Inc. Ratings Affirmed At 'BBB-' On Acquisition Announcement May 11
Standard & Poors, May 2011
Abstract
BCG Partners Inc. has announced its intention to acquire the real estate services company Newmark Knight Frank. We are affirming our 'BBB-' counterparty credit rating on BGC Partners Inc. We will update our opinion when final transaction details are disclosed over the next two to four months. The stable outlook reflects our expectation that BGC's profitability will remain above 2008 levels and that Cantor will maintain its ownership of the firm. NEW YORK (Standard & Poor's) May 5, 2011--Standard & Poor's Ratings Services said today that it affirmed its 'BBB-' corporate counterparty credit rating on BGC Partners Inc. (BGC). The outlook is stable. 'The ratings are based on our assessment of the company's stand-alone credit profile, as well as its...
Companies mentioned in this report are: BGC Partners Inc.,Cantor Fitzgerald L.P.
Action: Affirmed
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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