S&P Downgrades ARCP (ARCP) to 'BB';Remains on CreditWatch Negative
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Moody's Cuts American Realty Capital Properties' (ARCP) Unsecured Rating to Junk
December 16, 2014 12:03 PM ESTMoody's Investors Service downgraded the senior unsecured rating of American Realty Capital Properties, Inc. (ARCP)(Nasdaq: ARCP) to Ba1 with a negative outlook due to ARCP's announcement that its Chairman Nicholas Schorsch resigned on December 12 and its CEO David Kay and President/COO Lisa Beeson resigned on December 15. Moody's rating action reflects the continued uncertainty surrounding the unsecured debt rating from the accounting, legal and investment banking reviews. This concludes the review started on October 30, 2014. Moody's negative rating outlook reflects the uncertainty and the ultimate impact to ARCP's operating and capital structure... More
Market Wrap: Builder Confidence Ebbs in Nov.; Russia Lifts Key Rate; ARCP CEO Ducks Out
December 15, 2014 5:25 PM ESTMarket wrap for December 15th
End of the Day: S&P 500 down 12.7 to 1,989.63; Dow Jones down 100.0 to 17,180.84; Nasdaq down 48.4 to 4,605.16
* Industrial production increased 1.3 percent in November after edging up in October; output is now reported to have risen at a faster pace over the period from June through October than previously published. (The Street was looking for a gain of 0.7 percent.) In November, manufacturing output increased 1.1 percent, with widespread gains among industries. The rise in factory output was well above its average monthly... More
