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Bankrate Inc. Ratings Put On CreditWatch Positive; Announced IPO Could Reduce Leverage Jun 11
Standard & Poors, June 2011
Abstract
In our opinion, if Bankrate Inc. completes its announced IPO, its leverage and financial risk would decline. We have placed our ratings on Bankrate on CreditWatch with positive implications. The CreditWatch listing reflects the possibility that we could raise ratings following our review post-IPO. CHICAGO (Standard & Poor's) June 7, 2011--Standard & Poor's Rating Services said today that it placed its ratings on Bankrate Inc., including the 'B' corporate credit rating, on CreditWatch with positive implications, meaning we could raise the ratings following our review. 'The CreditWatch listing reflects our expectation that if Bankrate completes its announced IPO,' said Standard & Poor's credit analyst Andy Liu, 'it would reduce total debt outstanding and eliminate preferred stock that we view as...
Companies mentioned in this report are: Bankrate Inc.
Action: On CreditWatch:Positive
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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