S&P Global Ratings affirmed its BB rating on Virtus Investment Partners Inc.
The rating agency also affirmed its BB rating on the investment management company's term loan with a recovery rating of 3, indicating 50% recovery in the case of payment default.
The outlook on the long-term issuer credit rating remains stable, which reflects the rating agency's expectation for EBITDA to increase in 2019 and that the company will maintain leverage close to 2x in 2019.
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 document referred to in this news brief can be found here.