S&P could cut Icahn

Standard & Poor's said it placed the BBB- issuer credit rating on Icahn Enterprises LP and the BBB- issue rating on its senior unsecured debt on CreditWatch with negative implications.

"The CreditWatch action reflects declining investment values in the firm's portfolio that we believe have very likely led to the firm exceeding a 45% loan-to-value (LTV) ratio, which we previously cited as a key threshold for the rating," S&P credit analyst Clayton Montgomery said in a news release.

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