S&P: Industrivarden on watch

Standard & Poor's said it placed the A/A-1 corporate credit ratings on Industrivarden AB on CreditWatch with negative implications.

The CreditWatch placement reflects a view that Industrivarden may not be able to restore its loan-to-value ratio to below 30% in the near term, which is the current guidance for the rating, S&P said.

Due to the further decline in equity market prices over the last few weeks, the company's loan-to-value ratio has materially increased, the agency said.

While S&P said it believes its investment portfolio is well diversified, this has not prevented valuation declines of about 30% during the first nine months of the year.

© 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.