trending Market Intelligence /marketintelligence/en/news-insights/trending/IzbAi5_-rHA-jcnJ8YabIg2 content esgSubNav
In This List

S&P downgrades Loews

Blog

Perspectives from China: The Shifting Regulatory Landscape

Blog

Anticipate the Unknown: Does Supply Chain Disruption Lead to Increased Credit Risk?

Blog

Data Stories: Data insights to help alleviate business complexity amid geopolitical risks

Blog

Expand Your Perspective: Data & Distribution Q&A


S&P downgrades Loews

S&P Global Ratings has downgraded its long-term corporate credit and senior debt ratings on Loews Corp. to A from A+.

The rating agency also removed the company from CreditWatch with negative implications following acquisition of Consolidated Container Co. for about $1.2 billion.

The outlook is stable.

Consolidated Container's weak credit measures and the credit deterioration of Loews' partially owned subsidiary Diamond Offshore Drilling Inc. have lessened the asset credit quality of Loews' investee portfolio, the rating agency wrote.

Still, S&P expects Loews to maintain "exceptional" liquidity while continuing to receive significant cash dividends and investment income.

S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.