News: Corrections Corporation of America (CXW)

CXW on New York Consolidated

33.36USD
23 Jul 2014
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Wed, Jan 29 2014

Fitch Affirms Correction Corp.'s IDR at 'BB+'; Outlook Stable

(The following statement was released by the rating agency) NEW YORK, January 29 (Fitch) Fitch Ratings has affirmed the credit ratings of Corrections Corporation of America (CCA) as follows: --Issuer Default Rating (IDR) at 'BB+'; --$900 million secured revolving credit facility at 'BBB-'; --$675 million senior unsecured notes at 'BB+'. The Rating Outlook is Stable. KEY RATING DRIVERS The affirmation of CCA’s IDR at ‘BB+’ reflects the company’s strong credit metrics offset by declining

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