- Language: English
- Published: December 2011
Research Update: BGC Partners Inc. Ratings Affirmed At 'BBB-' On Acquisition Announcement May 11
- ID: 1771678
- May 2011
- Standard & Poors
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. On May 5, 2011, Standard & Poor's Ratings Services 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 relationship with its parent, Cantor Fitzgerald L.P....
Companies mentioned in this report are: BGC Partners Inc.,Cantor Fitzgerald L.P.
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
BGC Partners Inc.,Cantor Fitzgerald L.P.