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.
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