S&P lifts Icahn Enterprises

Standard & Poor's said it raised its long-term counterparty credit and senior debt ratings on Icahn Enterprises LP to BBB- from BB+.

The agency said it also affirmed the BBB rating on the $150 million senior secured revolving credit facility, one notch higher than the counterparty credit rating.

The outlook is stable.

S&P said that its view of Icahn Enterprises' creditworthiness has improved as the mix of its investments has become more diversified.

The most salient limit to the rating is the uncertainty regarding the firm's evolving risk profile that arises because management makes large, opportunistic investments, the agency noted.

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