Cantor Fitzgerald L.P. 'BBB' Rating Affirmed; Outlook Stable Jul 11
- ID: 1931021
- July 2011
- Standard & Poors
Cantor's capitalization supports the current rating, but its capital management has become more aggressive. We are affirming our ratings on Cantor Fitzgerald L.P. and its subsidiary, BGC Partners Inc. Cantor's partner capital has eroded since we first assigned ratings. NEW YORK (Standard & Poor's) July 26, 2011--Standard & Poor's Ratings Services said today that it affirmed its 'BBB' long-term counterparty credit rating on Cantor Fitzgerald L.P., and its 'BBB-' long-term counterparty credit rating on BGC Partners Inc. The outlook is stable. At the same time, we assigned our 'BBB-' senior unsecured debt rating to BGC's $125 million senior unsecured convertible debt due 2016. "Although financial results have remained relatively stable and we still believe that the firm's capitalization supports the...
Companies mentioned in this report are:
- Cantor Fitzgerald L.P.
- BGC Partners Inc.
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.