S&P revises Sculptor view to negative

S&P said it revised its outlook on Sculptor Capital Management Inc. to negative from stable, reflecting the view that leverage will remain higher than previously forecasted as a result of a possible court settlement.

Sculptor plans to settle the Africo lawsuit for $136 million, provided no other claimants come forward, and the court agrees to the settlement.

“Sculptor will use balance sheet cash to satisfy the obligation, which we believe could alter its deleveraging strategy,” S&P said in a press release.

At the same time, S&P affirmed the BB- ratings on the company and its term loan.

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