(Bloomberg)Pershing Square Holdings Ltd., the publicly traded security of Bill Ackman’s activist hedge fund, may have its ratings cut by Standard & Poor’s, after a plunge in Valeant Pharmaceuticals International Inc. eroded its net asset value over the past five months. S&P put its BBB rating on Pershing Square’s debt on watch for a potential downgrade, it said in a statement Thursday. The grade is two levels above speculative.
Pershing Square May Be Cut to Cusp of Junk by S&P on Valeant
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