S&P Global Ratings and Moody's Assess Mariner Wealth Advisors' Debt Plans
1 report, 1 independent
Updated Oct 22
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What happened
Mariner Wealth Advisors is seeking $150 million in additional debt to finance near-term acquisitions. This would increase the firm's term loan to $1.3 billion. S&P Global Ratings and Moody's Ratings provided ratings on this debt plan, noting that the additional borrowing would not impact the firm’s credit ratings.
From wealthmanagement.com
Why it matters
The debt increase raises Moody's expectation of leverage reaching 6.7x EBITDA by year-end. While Mariner Wealth Advisors cited strategic growth and improved margins, Moody's also pointed to risks, including high financial leverage, weak profitability, and an aggressive acquisition strategy.
From wealthmanagement.com
Who's involved
- S&P Global RatingsProvided ratings on Mariner Wealth Advisors' debt plans
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The entities involved
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S&P Global Ratings
credit rating agency, subsidiary of S&P Global