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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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February 25, 2015
07:25 EDTADTJPMorgan to hold a conference
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February 17, 2015
10:00 EDTADTOn The Fly: Analyst Upgrade Summary
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08:01 EDTADTOppenheimer upgraded ADT Corp. on positive effects of initiatives
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05:34 EDTADTADT Corp. upgraded to Outperform from Perform at Oppenheimer
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