Research Update: Cantor Fitzgerald L.P. Outlook Revised To Negative; 'BBB' Rating Affirmed Jan 12
Standard & Poors, January 2012
Abstract
Cantor Fitzgerald L.P. and some other institutional brokers are likely to face continued pressures and lower profitability stemming from the broader issues affecting securities markets, in our view. As a result, we revised the outlook to negative and affirmed our 'BBB' issuer credit rating on the company. We could lower the rating if Cantor increases leverage at its core securities brokerage subsidiary above the Sept. 30, 2011, levels, materially increase its risk, suffers unexpected losses, or experiences funding issues. On Jan. 27, 2012, Standard & Poor's Ratings Services revised the outlook on Cantor Fitzgerald L.P. to negative and affirmed its 'BBB' rating on the company. The rating actions reflect our view that Cantor and other some other institutional brokerage firms...
Companies mentioned in this report are: Cantor Fitzgerald L.P.
Action: Affirmed
Action: Outlook: Negative
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
Cantor Fitzgerald L.P.
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