RCS Capital Corp (NYSE:RCAP) Launches New Research Division, Ratings Improved

by Tom Carlson | Friday, Mar 14, 2014 | 677 views

Boston, MA, 03/14/2014 – The RCS Capital Corp (NYSE:RCAP), externally managed by RCS Capital Management, LLC; launched a new research division and hired new talents for helming this division. Meanwhile, the overall company rating was recently reported by both Moody’s as well as S&P.

SK Research, the new division in RCS Capital Corp (NYSE:RCAP)

A new research division was recently launched by RCS Capital Corp (NYSE:RCAP) called SK Research. This is aimed at providing dedicated intelligence and due attentiveness on various non-traditional investment products. The due diligence and research professionals Todd D. Snyder as well as John F. Kearney (previously a part of Snyder Kearney LLC) were hired for helming this new division. With the aid of more than 40 years of combined experience of these specialized providers of investment research, RCS Capital Corp (NYSE:RCAP) anticipates the building of a market leading, institutional quality research platform within a limited span of time. The company hopes to develop and advance their alternative investment platform by solidifying their current capabilities as well as further expanding their capabilities and market presence.

Rating changes for RCS Capital Corp (NYSE:RCAP)

The analysts at Moody’s Investors Service (popularly known as Moody’s) bestowed a ‘B2’ corporate rating for RCS Capital Corp (NYSE:RCAP). Meanwhile, the analysts at Standard & Poor’s (S&P) gave a ‘B+’ company rating for this Delaware holding company. On detailed analysis of the ratings, the proposal of $575 million senior secured first lien facilities from RCS Capital Corp (NYSE:RCAP) was given ‘B2’ rating from Moody’s while ‘B+’ rank was given by S&P. On the other hand, the $150 million senior secured second lien term loan proposal from the company was given ‘Caa1’ rating by Moody’s and ‘B-‘ rank by analysts at Standard & Poor’s.

Impressive Q4 results for RCS Capital Corp (NYSE:RCAP)

The company’s fourth quarter results were pretty impressive, with the Operating Results Exceeding Management Guidance. The total income was reported as $100.6 Million and the EBITDA was at $107.2 Million. The stock price of RCS Capital Corp (NYSE:RCAP) is currently at $27.98 at the March 13 market closing.

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