Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers V > Headlines for Verisk Analytics, Inc. > News item |
S&P lowers Verisk to stable
Standard & Poor's said it revised the outlook on Verisk Analytics Inc. to stable from positive.
The agency also affirmed the BBB- long-term corporate credit rating on the company.
The outlook revision is based on the higher pro forma leverage following the Argus acquisition, which is expected to be high over the intermediate term, given the company's historical use of free cash flow for share repurchases and acquisitions, S&P said.
The agency said it currently sees Verisk's growth and shareholder return strategies as likely to limit near-term credit improvement.
The ratings reflect the company's satisfactory business risk profile, which encompasses its leading market share for data and analytics tools for the property and casualty insurance industry and a large recurring revenue base with high customer retention, S&P said.
The ratings also consider its intermediate financial risk profile, illustrated by robust cash flow characteristics, the agency said.
© 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.