S&P Assigns Junk-Level Corporate Credit Rating to Twitter
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Twitter Inc., which has been under pressure because of slowing user growth and management turnover, was given a speculative-grade credit by Standard & Poor’s.
The company and its $1.8 billion of convertible notes were given a rating of BB-, three levels below investment-grade, according to a statement yesterday from the credit-ranking company. S&P also said Twitter’s financial risk was “significant.” Twitter shares rose 4.5 percent to $41.85 at the close in New York today, after dropping 5.9 percent yesterday following the S&P statement.