S&P: IAC/InterActive still on watch

Standard & Poor's said IAC/InterActiveCorp's BB corporate credit rating remains on CreditWatch with negative implications, where they were placed on Nov. 5, 2007, following IAC's announcement that it planned to divide itself into five publicly traded companies.

The company said it began a cash tender offer for its $750 million of 7% senior notes due 2013. A successful tender could significantly reduce total debt outstanding and increase financial flexibility at the new company, the agency noted.

© 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.