S&P downgrades Calamos

Standard & Poor’s said it lowered the rating on Calamos Investments LLC to BBB- from BBB.

The outlook is stable.

The downgrades reflect continued weak business trends at Calamos, which aren’t expect to imminently reverse, S&P said.

Calamos is viewed as one of the weaker asset management companies within this category, the agency said.

Additionally, the company’s profitability has been under pressure as a result of declining revenues and operating costs that have largely remained stable, 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.