S&P lowers Janus

Standard & Poor's said it lowered its ratings on Janus Capital Group Inc., including its counterparty credit rating to BB+/B from BBB-/A-3.

The outlook is stable.

The agency said that ratings on Janus reflect its weakened debt-servicing capacity as assets under management and, consequently, cash-flow generation, have fallen considerably in recent months and are not expected to improve in the near term.

"Janus has been harder hit than most other rated asset managers during the global plunge in stock prices, because it is primarily an equity shop," said S&P credit analyst Charles D. Rauch.

© 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.