Fitch Keeps ICG's Rating, Stable Outlook Citing Asset Management Franchise Scale

Fitch maintained its BBB+ long-term issuer default rating for ICG (ICG.L), with a stable outlook, in a July 10 report. The affirmation underpins the scale of the private equity company's asset management franchise, lower leverage, sound liquidity, continued earnings strength, and experienced management team. The rating decision also considers the risk of macroeconomic challenges diminishing investment returns amid the persistent need to generate strong fund returns to maintain the attraction of future funds for investors.