S&P lowers AEON

S&P said it lowered the rating on AEON Co. Ltd.'s senior unsecured debt one notch to BBB upon completing a review of the company's issue rating.

The review follows publication of revised ratings criteria.

With the criteria review complete, S&P said it removed the under critical observation (UCO) designation from the rating.

The downgrade stems solely from the application of the revised criteria and does not reflect any change in the assessment of the corporate credit rating on the company, the agency explained.

The action takes into consideration AEON's capital structure, including senior unsecured debt.

Under the revised criteria, the agency said it no longer considers downstream loans from the holding company, AEON, to its operating subsidiaries as a factor mitigating structural subordination of AEON's senior unsecured debt, S&P said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.