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S&P cuts Icahn Enterprises rating to junk, outlook stable

Billionaire activist-investor Carl Icahn gives an interview on FOX Business Network's Neil Cavuto show in New York February 11, 2014.

U.S. ratings agency Standard & Poor's on Tuesday cut the credit rating of billionaire investor Carl Icahn's Icahn Enterprises (IEP.O) to junk status after the portfolio absorbed declining investment values and higher leverage in the last few months.

S&P dropped the long-term issuer credit rating and senior unsecured debt rating of Icahn Enterprises to double-B-plus from triple-B-minus, the agency said in a...


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