Legence Shares Fall Despite S&P Ratings Bump
Legence Corp. shares fell 5.9% to $83.69 Friday, closing near session lows as industrial stocks dropped after a strong U.S. jobs report. S&P Global Ratings upgraded Legence Holdings LLC to BB- from B+ and shifted its outlook to positive, citing lower private-equity ownership and strong first-quarter results. Legence’s amended $995 million term loan now carries a lower rate of SOFR plus 2.00%.
