Research Update: GFI Group Inc. 'BBB-' Ratings Placed On CreditWatch Negative Jan 12
- ID: 2046323
- January 2012
- Standard & Poors
We expect that tough market conditions in the U.S. and in the institutional brokerage industry, as well as the European financial crisis, may weaken GFI Group's profitability and could reduce its debt service capacity. In addition, changes in regulation, competition, and technology in GFI's niche are creating uncertainty regarding the company's revenue stability. We are placing our 'BBB-' ratings on GFI Group on CreditWatch with negative implications. To resolve the CreditWatch, we plan to meet with management to review its operational and financial plans for dealing with the weak and volatile operating conditions. On Jan. 27, 2012, Standard & Poor's Ratings Services placed its 'BBB-' counterparty credit and senior unsecured ratings on GFI Group Inc. on CreditWatch with negative implications....
Companies mentioned in this report are: GFI Group Inc.
Action: On CreditWatch:Negative
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Product Type: Research Update
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