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Article Date: July 2020
Word Count: 141

Iconix’ Rating Cut by S&P as Debt Restructuring Looms


Standard & Poor’s cut ICON’s issuer credit rating to CCC- from CCC, lowered its rating on the company’s senior secured term loan, and said the outlook was negative. The ratings agency said that Iconix’ cash flow and liquidity position have weakened to the extent that it may not be able to cover its debt service costs, and it expects the licensing company will pursue a debt restructuring. Licensing revenues have suffered ... Log in to view full article.

 


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