S&P ups Pershing Square

S&P said it raised its ratings for Pershing Square Holdings Ltd. and its senior unsecured debt to BBB+ from BBB, citing the firm’s strong investment performance.

“As of March 24, 2020, when the S&P 500 was down 24%, PSH was up 0.2%. The fund was up 27.5% as of May 31 because of the rebound in equity markets in April and May, beating the S&P 500 by over 30% and marking almost 2.5 years of solid investment performance,” S&P said in a press release.

The outlook is stable.

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