Man Group’s proposed takeover of rival hedge fund GLG Partners has been dealt its first blow as three credit ratings agencies announced they may downgrade the firm over concerns about liquidity and successful integration.
In a statement today, Moody's Investor Services said it was placing Man's Baa1 issuer rating on review with a negative outlook. Fitch Ratings followed suit with an statement that it too was contemplating a downgrade of the company's long-term issuer default rating BBB+ rating.
