Icahn Enterprises L.P. ADR

S&P Global Ratings cuts Icahn Enterprises’ rating from 'BB-' to 'B+' and also lowers the issue rating on senior secured notes, citing persistent losses at the investment fund that weaken the business position. The Recovery Rating remains at 3 and the outlook is stable. IEP posted a fund decline of 18.2% in H1 2026, the equity value fell to USD 2.0bn, and hedge losses in energy and market positions materially contributed to a net loss of USD 591m. Holding-level liquidity dropped to USD 2.3bn, the loan-to-value ratio is around 61%; the sale of Pep Boys for USD 700m should provide near-term liquidity, but refinancing risks for debt maturing in 2027 and 2029 remain. » Altro su de.investing.com

Carl Icahn made only minor changes to his portfolio in Q2 2026. Assets under management fell from $8.55 billion to $8.26 billion. His top holding remained Icahn Enterprises, which he increased by 68,992,804 shares to 618,393,343 shares (value about $4.46 billion; 53.95% of the portfolio). CVR Energy remains the second-largest holding (approx. $1.96 billion) and a new investment moved into the top ten; otherwise many positions stayed unchanged. » Altro su finanzen.net

Icahn Enterprises reported a second-quarter net loss of $355 million ($0.52 per unit) and adjusted EBITDA loss of $134 million, worsening from the prior year. The company struck a definitive agreement to sell Pep Boys for $700 million, expected to close in Q3, and said proceeds will help cover upcoming debt maturities while it retains related real estate and certain franchise assets. Indicative NAV fell by $765 million driven by investment-fund losses and a CVI decline, though energy segment adjusted EBITDA rose to $102 million on strong refinery utilization and fertilizer demand. The board left the quarterly distribution unchanged at $0.50 per depositary unit. » Altro su finance.yahoo.com