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November 27, 2012
14:01 EDTADTFitch downgrades ADT's IDR to BBB, outlook stable
Fitch Ratings has downgraded the ratings of The ADT Corporation, including the company's Issuer Default Rating to 'BBB' from 'BBB+'. The Rating Outlook remains Stable. The downgrade reflects ADT's recently announced $2B share repurchase program that will be funded by debt and free cash flow. The company's board of directors announced today the authorization of a $2 billion share repurchase program over a 3-year period. The downgrade also reflects management's willingness to undertake a more aggressive financial strategy soon after becoming an independent company. These actions also provide some uncertainty regarding management's financial policies beyond the near term. Fitch will continually evaluate how management balances demands from its shareholders while maintaining its commitment to an investment grade profile.
News For ADT From The Last 14 Days
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April 16, 2015
15:10 EDTADTADT Corp estimates trimmed on weather and FX at Raymond James
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April 12, 2015
15:07 EDTADTADT, Post, three other spinoffs could go higher, Barron's says
Citizens Financial (CFG), KLX (KLXI), ADT (ADT), Post Holdings (POST), and Rouse Properties (RSE) are spinoffs that look attractive, Barron's contends in a feature article. Reference Link
April 10, 2015
10:00 EDTADTOn The Fly: Analyst Downgrade Summary
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06:06 EDTADTADT Corp. downgraded to Neutral from Buy at Citigroup
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