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Capital allocation decision |
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Capital allocation decision |
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| Accepting the proposed project would not be a wise capital allocation decision. At that time, the existence of the public bid changed Harrah's credit profile primarily because Fitch believed there was a high likelihood of a shareholder-friendly capital allocation decision that would have a negative impact on the credit profile (which was already weak investment grade) even if the transaction was not completed. While we are limited by regulatory requirements in what we can say at this time, the move to pursue an initial public offering is a result of both a strategic and capital allocation decision and not due to any change in our fundamental outlook for our operations," said Brian Duperreault, Chairman and Chief Executive Officer of ACE Limited. |
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Capital allocation decision