Famed activist investor Carl Icahn is on the brink of being junk’d. His Icahn Enterprises is now on credit watch at Standard & Poor’s thanks to his big commodity and energy bets – $CHK $FCX $RIG $LNG, anyone?
S&P has Icahn’s BBB- rated on watch with negative implications and 1-in-2 likelihood that it’ll lower the rating in the next 3 months, which would put IEP in junk territory. IEP has ~$1.2 billion in loans due Jan. 2017.
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At this year's SALT New York conference, Wences Casares, the chairman of XAPO, and Peter Briger, the principal and co-chief executive officer of Fortress Investment Group discussed the macro case for Bitcoin. Q2 2021 hedge fund letters, conferences and more XAPO describes itself as the first digital bank of its kind, which offers the "convenience" Read More
Roughly 45% of IEP’s EBITDA was coming from energy-related investments as of June 2015. Shares of IEP are still at 3-year lows and down 50% in the last 12 months.
Carl Icahn’s Icahn Enterprises Heading Towards Junk Territory by Activist Stocks