Indeed, Moody's acknowledges that its decision reflects its view on some of the longer-term challenges for the alternative investment sector as a whole.
The spokesman added: "However, we are pleased to note that Moody's statement makes it clear that it continues to hold a positive view on many elements of our business including our fee generation model and our strong Gulf franchise.
We are pleased that Investcorp remains investment-grade rated. This change does not affect the position of our business as outlined in our recent Q1 update to shareholders and it has no operational impact on our day-to-day business now or in the future. Investcorp will continue to be the leading alternative asset manager for the Gulf region."
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Investcorp says it is confident of its franchise and fee generating business model
- Bahrain: Thursday, November 13 - 2008 at 17:18
- PRESS RELEASE
Given the environment and backdrop, plus the news flow from the quoted alternative investment firms in recent weeks, it is understandable why Moody's might have taken such a view, a senior Investcorp spokesperson said today, reacting to news about a new rating for the company from Moody's.
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Posted by Lara Lynn Golden, News EditorThursday, November 13 - 2008 at 17:18 UAE local time (GMT+4)
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