trending Market Intelligence /marketintelligence/en/news-insights/trending/b4tskflmy1ubo9troggsyq2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

S&P revises outlook on Edelman Financial Center

Street Talk Episode 68 - As many investors zig away from bank stocks, 2 vets in the space zag toward them

Street Talk Episode 66 - Community banks tap the debt markets while the getting is good

Street Talk Episode 67 - Veteran investor tabs Mick Mulvaney to help with latest financial stock-focused fund

Street Talk Episode 65 - Deferral practices trap US bank portfolios in purgatory

S&P revises outlook on Edelman Financial Center

S&P Global Ratings revised its outlook on Edelman Financial Center LLC to negative from stable, and affirmed its B issuer credit rating on the asset manager.

Edelman is issuing a $1.4 billion first-lien term loan and $495 million second-lien term loan to help finance private equity firm Hellman & Friedman LLC's planned acquisition of Financial Engines Inc. and repay existing Edelman debt, S&P noted. The proposed first-lien debt consists of a $1.4 billion term loan and $150 million revolver. Hellman & Friedman owns a majority interest in Edelman Financial Services LLC.

As part of the deal, Edelman Financial Services will be merged with Financial Engines.

A combination with Financial Engines is expected to expand and diversify Edelman's business. But at the same time, the incremental debt is expected to weaken Edelman's leverage and interest coverage compared to S&P's earlier projections, the rating agency warned.

The negative outlook reflects the company's weak pro forma interest coverage and leverage even though both ratios are expected to improve over 2019 as the company grows EBITDA organically and realizes cost synergies, S&P said.

This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings, a separately managed division of S&P Global. Descriptions in this news article were not prepared by S&P Global Ratings. The original S&P Global Ratings documents referred to in this news brief can be found here.