Moody's places CGSC ratings on review for downgrade

Big losses see Amazons shares hit 12-month low

Chairman Martin Sullivan says firm is disappointed but remains focussed on taking corrective action.

Moody's has placed the debt ratings of Cooper Gay Swett & Crawford on review for a downgrade following a deterioration in Ebitda, financial leverage and interest coverage.

Cooper Gay has a B3 corporate family rating and a B3-PD probability of default rating from the agency. It has also placed a B2 rating on the firm's credit revolving facility and first term loan, and a Caa2 on its second term loan.

The review will focus on the timing and magnitude of the company's strategic initiatives to

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.

You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Insurance Age? View our subscription options

Register

Sign up and gain access to five complimentary news articles every month.

Already have an account? Sign in here

This address will be used to create your account

Applied updates on commercial push

Applied Systems has confirmed Arch Insurance is about to enter the pilot phase of onboarding and will be live on the Applied Epic broker management system in April, with Iprism and Ark to follow and more promised in 2024.

GIC completes Miller deal

Institutional investor GIC has completed the takeover of Miller, buying out previous co-investor private equity house Cinven.

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: