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Bulletin: Invesco Holding Co. Ltd. Rating Unaffected By Acquisition Of Asset-Management Business Oct 09
Standard & Poors, Oct 2009
Abstract
NEW YORK (Standard & Poor's) Oct. 20, 2009--Standard & Poor's Ratings Services said today that Invesco Holding Co. Ltd.'s (Invesco; BBB+/Positive/--) announcement that it will acquire Morgan Stanley's asset-management business will have no ratings impact. We recognize the compelling business reasons for this acquisition and the improvement in Invesco's breadth of products and distribution that should result from it. In addition, we view the terms of the deal favorably, as they include a large equity portion and do not increase Invesco's debt. Nevertheless, there are substantial integration issues with an acquisition of this size and nature that are likely to take up a considerable portion of management's focus in the near term. If this impairs Invesco's performance, which had been...
Companies mentioned in this report are: Invesco Holding Co. Ltd.,Morgan Stanley
Action: Bulletin
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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