S&P revises Hunt Cos.view to negative

S&P said it revised its outlook on Hunt Cos. Inc. to negative from stable. At the same time, the agency affirmed its BB- issuer credit rating and BB- issue rating on the firm's senior secured notes. The recovery rating on the notes remains 4, indicating an expectation of average (30%-50%; rounded estimate: 40%) recovery in a default scenario.

“We believe that Hunt's key leverage metrics could come under pressure as earnings face headwinds and the company potentially reduces its cash buffer that it has aggregated from the sales of Hunt Real Estate Capital (HREC) and Pinnacle in the first quarter of 2020,” S&P said in a press release.

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