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Lexmark bond investors lose confidence In Board Members
The market for bond and credit investments tied to Lexmark International Inc.’s debt suggest that investors may believe the company’s credit rating should be lower.
As Bloomberg reported, trades of bonds and credit-default swaps tied have risen to the highest level since 2009.However, Bloomberg reported, the nature of the trades indicates that "the market perceives a credit rating of Ba1, according to Moody’s Corp.’s capital markets research group, compared with its actual rating at Moody’s Investors Service of Baa3."
A Ba1 rating from Moody’s would be below investment grade for corporate bonds.
Lexmark , based in Lexington, Ky., is shifting its primary business from making printers for homes to offering printing-related technology and services for business clients.As part of this transition, Business First has reported, it has made several acquisitions of technology firms, such as Australia-based ISYS Search Software and Nolij Corp. in a $32 million deal and Luxembourg-based BDGB Enterprise in a $148 million deal.
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