S&P revises Pershing Square view to stable

S&P said it revised the outlook on Pershing Square Holdings Ltd. to stable from negative and affirmed the BBB issuer credit ratings and senior unsecured ratings on the fund.

“The revision to stable reflects PSH's improved investment performance after a tumultuous three-year period that likely impaired the fund's reputation and ability to raise new capital. We believe the fund has returned to what it refers to as its ‘core investment principles,’ which includes investing in simple, predicative cash-flow-generating businesses with strong barriers to entry and limited exposure to extrinsic factors that they cannot control,” S&P said in a news release.

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