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News Breaks | | | | September 5, 2012 | | 08:47 EDT |  | VRSK | Verisk Analytics says may fail to realize expected benefits of Argus acquisition
Verisk Analytics stated in a regulatory filing that "Our increased leverage resulting from the Argus acquisition could adversely affect our business. In particular, it could increase our vulnerability to sustained, adverse macroeconomic weakness, limit our ability to obtain further financing and limit our ability to pursue certain operational and strategic opportunities. In addition, we may fail to realize the expected benefits of the acquisition." The company noted that in order to finance its acquisition of Argus, Verisk incurred $380M of indebtedness under its revolving credit facility and, at August 31, Verisk's total debt increased to approximately $1,600M and its leverage ratio increased from 1.90x to 2.34x. Verisk said that on September 4, it signed a commitment letter with the lead lenders and arrangers of the credit facility to syndicate an increase in the total commitments under the facility to $850M, extend the maturity date to October 2017 and increase the maximum Consolidated Funded Debt Leverage Ratio from 3.25x to 3.5x, but the company can provide no assurance that it will obtain the proposed increase in commitments on these terms. | |
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News For VRSK From The Last 14 Days Check below for free stories on VRSK the last two weeks. |
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| May 23, 2013 | | 10:08 EDT |  | VRSK | On The Fly: Analyst Initiation Summary
 Subscribe for More Information | | | 07:18 EDT | | VRSK | Verisk Analytics initiated with an Outperform at BMO Capital
Subscribe for More Information | | | May 16, 2013 | | 14:56 EDT |  | VRSK | Verisk Analytics management to meet with JPMorgan
Subscribe for More Information | | | May 15, 2013 | | 07:37 EDT | | VRSK | Macquarie to host a conference
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