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However,Bharti shares rose in a volatile market and ended 5.57 per cent higher at Rs 272.15 on the Bombay Stock Exchange. Its market cap rose by Rs 5,450 crore in a day. | not-forward | indianexpress.com | https://indianexpress.com/article/news-archive/web/sp-downgrades-bharti-rating-but-shares-up-5-57 |
Shares of Teva Pharmaceuticals ( TEVA - Free Report ), a favorite for investors chasing large dividend yields, fell more than 4.4%—and hit a 10-year intraday low—on Wednesday. Just says after the company reported sluggish Q2 earnings, investors are continuing to ditch the stock amid reports that Teva is desperately trying to sell off assets. According to sources cited by Bloomberg, Teva is looking to ramp up asset sales in an effort to preserve its credit rating and cut its mounting debt. The report claims that Medis, an Iceland-based generic drug manufacturer, is one of the Teva units on the table. Bloomberg also claimed that Teva is considering the sale of its respiratory treatment assets, although the publication's anonymous sources said that a decision to sell has not been finalized and considerations are still at an early stage. "Teva is looking at every opportunity to focus our business and streamline operations processes and structure," the company said in a statement. | forward | www.zacks.com | https://www.zacks.com/stock/news/271437/teva-plunges-to-10-year-low-credit-rating-in-jeopardy/?art_rec=blog-stocks_in_the_news-up_next-ID01-txt-271437 |
At nine years old, WeWork has quickly risen to become synonymous with the term 'co-working space.' But Wolfstreet points out the undercurrent of its business model may be eroding: In April 2018, WeWork's issued $702 million of 7.875% notes due in May 2025. S&P rates them B+, four steps into junk (corporate rating scales by S&P, Moody's and Fitch). And Moody's, in an unusual move, withdrew its credit rating of the bonds last August, citing "insufficient or otherwise inadequate information." The bonds have been in the red for almost the entire time and closed today at 91.25 cents on the dollar, according to FINRA/Morningstar data. And: These losses of nearly $2 billion in 2018 are operating losses, and not investments in new office projects. After the company leases office space and decks it out, it takes up to 18 months to fill the space, and during that time, the space produces lots of expenses but revenues start out at zero and grow only gradually until the space is filled. That's the price of expansion. | not-forward | www.dice.com | https://www.dice.com/career-advice/wework-troubles-co-working-bubble |
Macau.- The casino operator Melco Resorts & Entertainment has had its credit rating downgraded because of the Covid-19 pandemic and resulting slow performance. S&P Global also downgraded the company's Studio City unit from BB to BB-. It doesn't expect a full recovery for Macau until 2023. | not-forward | focusgn.com | https://focusgn.com/asia-pacific/melco-resorts-credit-rating-downgraded" |
NEW YORK (BLOOMBERG) - Shares of Noble Group, the commodity trader seeking to preserve its investment-grade status, fell in Singapore on Tuesday (Nov 24) after Standard & Poor's joined Moody's Investors Service in reviewing the company's ratings amid concern about its liquidity. | not-forward | www.straitstimes.com | http://www.straitstimes.com/business/companies-markets/noble-shares-slump-after-sp-warns-it-may-cut-its-debt-rating-to-junk-on |
The ratings lowered were El Paso Electric Co.'s first mortgage bonds to B3 from B1, Del Norte Funding Corp.'s secured lease obligation bonds to Caa from B2, and El Paso Funding Corp.'s unsecured lease obligation bonds to CAA from B3. The agency confirmed El Paso Electric Co.'s preferred stock at Caa. Duff & Phelps Credit Rating Co. downgraded El Paso's first mortgage bonds to CCC from BB, and the Del Norte Funding Corp.'s secured lease obligation bonds to DD, or defaulted debt, from BB-minus, the agency said in release. Del Norte is a separate company from El Paso, but the two are linked by a sale/lease back agreement, William A. Abrams, a Duff & Phelps analyst explained. | not-forward | www.americanbanker.com | https://www.americanbanker.com/news/junk-bond-issuance-boosts-fee-earnings-carolco-announces-offer-for-14-notes |
(Adds details on Evergrande bondholder call, Fantasia restructuring plans, R&F downgrade by S&P) By Marc Jones LONDON, Oct 8 (Reuters) - Chinese property firms watched their bonds take another beating on Friday as the prospect of a wave of defaults in the sector in the wake of China Evergrande's troubles continued to scare off investors. Among a frenzy of developments, advisers for Evergrande bondholders said they had still not heard from the company following its recent missed bond payments. Smaller rival Fantasia appointed advisors after it shocked markets by also missing a payment this week, while both R&F Properties and Xinyuan suffered credit rating downgrades, the latter after it had asked to push back one of its own payments. | not-forward | finance.yahoo.com | https://finance.yahoo.com/news/1-building-default-fears-pummel-133339918.html |
Legendary investor Warren Buffett told CNBC on Thursday that his conglomerate Berkshire Hathaway (NYSE: BRKa ) "bought $10 billion in US Treasurys last Monday." Buffett revealed they also bought $10 billion in Treasurys this Monday, shrugging off Fitch's U.S. credit rating downgrade. He added that "the only question for next Monday is whether we will buy $10 billion in 3-month or 6-month" T-bills. Buffett, speaking to CNBC's Becky Quick in an interview, said there are "some things people shouldn't worry about" and that "this is one." Fitch downgraded its long-term foreign currency issuer default rating for the U.S. to AA+ from AAA on Tuesday, based on the "expected fiscal deterioration over the next three years," as well as increasing debt. The move resulted in U.S. equities falling, but Buffett told CNBC that while the concerns are valid, it will not change his stance on U.S. Treasurys and the U.S. dollar, which is "the reserve currency of the world, and everybody knows it," he said. | forward | au.investing.com | https://au.investing.com/news/stock-market-news/warren-buffetts-berkshire-hathaway-buying-us-treasurys-not-worried-about-us-credit-rating-downgrade-432SI-2937032 |
The credit rater said Bank of America's creditworthiness has deteriorated based on its exposure to consumer credit and warned further writedowns associated with the Countrywide and Merrill Lynch acquisitions are also a possibility. | forward | www.americanbanker.com | https://www.americanbanker.com/news/s-amp-p-lowers-b-of-a-ratings-amid-earnings-pressures |
In a concerning development, Sunac, China's third-largest developer, has had its credit ratings severely slashed. This is due to increasing uncertainties around debt repayment. | not-forward | constructionreviewonline.com | https://constructionreviewonline.com/commentary/inside-chinas-real-estate-crisis-of-2023-and-its-crumbling-housing-market |
With so many changes and declining profits, Moody's has put the Royal Bank of Scotland Group plc (NYSE:RBS) (LON:RBS)'s credit rating under review. McEwan is slated to take the helm of RBS on October 1. | forward | www.valuewalk.com | https://www.valuewalk.com/2013/08/royal-bank-of-scotland-names-new-ceo |
Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk ( volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model. NEW YORK ( TheStreet ) -- CenturyLink (NYSE: CTL ) has been reiterated by TheStreet Ratings as a hold with a ratings score of C+. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, reasonable valuation levels and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself and generally higher debt management risk. | not-forward | www.thestreet.com | http://www.thestreet.com/story/11907979/1/centurylink-inc-stock-hold-recommendation-reiterated-ctl.html |
Shares of Bharti Airtel Ltd were up 0.4%, while those of Vodafone Idea Ltd were flat ahead of the hearing. Meanwhile, MSCI's broadest index of Asia-Pacific shares outside Japan lost as much as 1% as a spike in coronavirus infections in some US states and China dampened hopes of a quick economic recovery. | not-forward | www.gulftoday.ae | https://www.gulftoday.ae/business/2020/06/18/fitch-cuts-india-sovereign-rating-outlook-to-negative |
American International Group, Inc. is an international insurance organization. The company operates property and casualty insurance networks worldwide and conducts activities in the U.S. life insurance and retirement services industry. The company has a P/E ratio of 3.3, above the average insurance industry P/E ratio of 1.7 and below the S&P 500 P/E ratio of 17.7. American International Group has a market cap of $48.09 billion and is part of the | not-forward | www.thestreet.com | http://www.thestreet.com/story/11443815/6/thestreet-ratings-top-10-rating-changes.html |
It's arguable, yet totally plausible, that healthcare conglomerate Johnson & Johnson ( JNJ -0.25% ) has the safest dividend payout in the world. Aside from being only one of two publicly traded companies to hold a AAA credit rating (that's higher than the U.S. government), Johnson & Johnson leans on each of its three business segments to bring something important to the table that its other segments lack. | not-forward | www.fool.com | https://www.fool.com/investing/2019/07/23/3-of-the-most-rock-solid-dividend-stocks-in-the-wo.aspx?referring_guid=65a97b06-5eab-44bc-a829-5bf0580865d9 |
Business organisation Business Leadership South Africa (BLSA) says Moody's downgrade of South Africa's debt rating to junk status will significantly impact the way the economy is defended through the Covid-19 crisis. The ratings agency on March 27 downgraded South Africa's sovereign credit rating to junk status, despite industry calls for the decision to be postponed until after the Covid-19 pandemic passes in South Africa, since it has frustrated economic reform efforts. Moody's downgraded the country's long-term foreign currency and local currency issuer ratings to Ba1 from Baa3, with a negative outlook. The Ba1 rating implied a significant credit risk. Financial institution Citadel chief economist Maarten Ackerman says the rating downgrade came as no surprise, since South Africa's fiscal metrics had been unsustainable for some time. | not-forward | www.engineeringnews.co.za | https://www.engineeringnews.co.za/article/economy-faces-harder-recovery-path-following-moodys-downgrade-says-business-2020-03-30 |
[3] S&P Global Ratings: "J.C. Penney Co. Inc. Downgraded To 'D' On Missed Interest Payment", Research Update, Apr 16, 2020. | not-forward | www.spglobal.com | https://www.spglobal.com/marketintelligence/en/news-insights/blog/tracking-credit-risk-at-a-major-us-retailer |
In a note Moody's noted Intesa's direct exposure to the Italian sovereign and its pronounced focus on domestic business. The management of both UniCredit and Intesa Sanpaolo have said they currently have no funding problems. Besides its downgrade of Italian banks, Moody's also cut its ratings on the debt of a series of state-controlled Italian companies including oil and gas group Eni, utility Enel, defense company Finmeccanica and power grid operator Terna. | not-forward | www.dailysabah.com | https://www.dailysabah.com/business/2011/10/06/moodys-cuts-ratings-on-intesa-unicredit |
Earlier this week, the riskiest tranches of debt measured by the ABX hit all-time lows of about 45 cents on the dollar. Although Flanagan is not expecting widespread subprime contagion, he sees subprime resolution taking longer. A spokesman for JPMorgan declined to make Flanagan available for additional comment. Downgrades from Moody's ( MCO ) and McGraw-Hill ( MHP ) subsidiary S&P have caused a wave of CDO securities to float back onto the marketplace. Pensions and insurance plans are allowed to own the higher-rated tranches of these pooled deals but are restricted from holding portions that fall below investment grade. So the recent downgrades have made them sellers. CDOs have been a big fee generator for banks and brokerages. Various parties made money by originating subprime mortgages, pooling these securities and selling them off as bonds to investors. | not-forward | www.thestreet.com | https://www.thestreet.com/investing/stocks/jpmorgan-sees-subprime-plunge-10369159 |
When crude prices fell, Exxon's downstream earnings increased over 100% to partially compensate for the fall in Exxon's upstream profits. Because of Exxon's integrated approach, the company handily beat analyst estimates for its first quarter, reporting an EPS of $1.17 versus expectations of $0.83. The company also made $8.5 billion in first quarter operating cash flow, enough to cover its dividend distribution. | not-forward | www.insidermonkey.com | http://www.insidermonkey.com/blog/exxon-mobil-corporation-xom-is-still-the-best-energy-company-in-the-world-346522 |
Enbridge has reached a final investment decision on two gas transmission projects. First, the company signed commercial agreements for the Algonquin Reliable Affordable Resilient Enhancement project (AGT Enhancement) which is expected to increase deliveries on Algonquin Gas Transmission pipeline to existing local distribution company (LDC) customers in the Northeast. The Algonquin Gas Transmission pipeline transports 3.09 Bcf/d of natural gas through 1,131 miles of pipeline through New Jersey, New York, Connecticut, Rhode Island and Massachusetts, connecting to the Texas Eastern Transmission and the Maritimes & Northeast pipelines. Once completed, AGT Enhancement will deliver approximately 75 Mmcf/d of natural gas, under long-term contracts, to investment grade counterparties in the Northeast. This project is designed to increase reliable supply and improve affordability by reducing winter price volatility for customers. | forward | www.newsbreak.com | https://www.newsbreak.com/daily-energy-insider-1599502/4214215066197-enbridge-makes-investment-decision-on-two-gas-transmission-projects |
The deal has become a "poster child" for all that was wrong with that era of easy credit, highly speculative deals and greed, said Ben Thypin, an analyst at Real Capital Analytics, a research firm. It remains to be seen if its recent troubles will affect the Tishman Speyer image and the willingness of investors to risk their money with the company. A recent report from Realpoint, a credit rating agency, estimates the property has a value today of $2.13 billion — less than half of what the partnership borrowed to buy it. | not-forward | www.cnbc.com | https://www.cnbc.com/2009/09/10/biggest-real-estate-deal-in-us-history-may-default.html |
So far, cyberattacks have had a limited impact on credit ratings. In the last 10 months, there were 50 negative credit ratings actions from S&P Global Ratings related to risk management, culture and oversight. A small subset of those actions was related to cyberattacks. Weak cybersecurity seems to be correlated with weak overall risk management. Inadequate cybersecurity or mitigation measures can potentially result in lower credit ratings than those of peers with similar financial metrics. | not-forward | www.spglobal.com | https://www.spglobal.com/en/research-insights/articles/daily-update-october-26-2022 |
Sales have been declining sharply in recent quarters. El Pollo Loco ( LOCO ) -- Down 18 percent last week One of this year's hottest restaurant IPOs has been cooling off since reporting earnings earlier this month. El Pollo Loco -- a quick-service chain specializing in citrus-marinated chicken -- took another hit this week after announcing a secondary offering. El Pollo Loco had to price the 6 million shares in the offering at $27, well below where the stock was just before the secondary was announced. This won't be dilutive. All of the shares being offered are by pre-IPO investors. El Pollo Loco isn't receiving any proceeds from the secondary, but it's not an encouraging sign to see so many insiders cashing out. El Pollo Loco's stock has fallen in 10 of the 11 trading days since posting quarterly results on Nov. 6. Renren ( RENN ) -- Down 16 percent last week The market bought into the Renren hype when it went public a few years ago. | not-forward | www.aol.com | https://www.aol.com/2014/11/24/last-weeks-biggest-stock-movers-deals-lift-dish |
Lagos, 30 August 2023 – GCR Ratings (GCR) has upgraded Providus Bank Limited's national scale long and short-term issuer ratings to BBB-(NG)/A3(NG) from BB+(NG)/B(NG) respectively; with the outlook revised to stable from positive. Rated Entity Rating class Rating scale Rating Outlook Providus Bank Limited Long Term Issuer National BBB-(NG) Stable Short Term Issuer National A3(NG)... | not-forward | gcrratings.com | https://gcrratings.com/announcements/gcr-upgrades-providus-bank-limiteds-national-scale-long-and-short-term-issuer-ratings-to-bbb-ng-a3ng-with-the-outlook-revised-to-stable |
"The ability to integrate our credit ratings data with the proven analytics and research capabilities of S&P Capital IQ creates a truly unparalleled opportunity for market participants to gain the deepest possible insight into credit quality," said Neeraj Sahai, President, Standard & Poor's Ratings Services. "The investment intelligence that will come from this pairing of resources will be an enormously powerful asset to financial markets." | not-forward | press.spglobal.com | http://press.spglobal.com/2014-05-19-S-P-Capital-IQ-Launches-New-Business-Line-Dedicated-to-Standard-Poors-Ratings-Research-and-Integrated-Solutions |
Weingarten Realty Investors had been rated buy since October. Consolidated Graphics ( CGX ), a commercial printer, has been downgraded to hold. The company maintains a largely solid financial position and has enjoyed revenue growth, but it has also been marked by poor profit margins, a generally disappointing stock performance and unimpressive growth in net income. Fiscal second-quarter earnings fell 3% to 13.3 million, or 98 cents a share. Revenue increased 11% to $259.7 million. While the company has reported somewhat volatile earnings recently, it appears to be poised for EPS growth in the coming year. Consolidated Graphics' share price has fallen 25.36% from a year ago. In one sense, the stock's sharp decline last year is a positive for future investors, making it cheaper than most other stocks in its industry. But due to other concerns, the stock is still not considered a good buy. Consolidated Graphics had been rated buy since January 2006. Additional rating changes are listed below. | not-forward | www.thestreet.com | https://www.thestreet.com/story/10397345/1/stock-upgrades-downgrades-from-thestreetcom-ratings.html |
S&P Global Ratings last week rated RXO BB+. That is one notch above the BB rating held by XPO (NYSE: XPO). However, S&P put XPO on Creditwatch Positive in June, which is often the first step toward a ratings upgrade. | not-forward | www.freightwaves.com | https://www.freightwaves.com/news/xpo-brokerage-spinoff-rxo-gets-near-investment-grade-debt-rating-from-sp |
From a financial perspective, this FDA Fast Track designation for AC Immune's ACI-35.030 (JNJ-2056) is a positive catalyst for the company. Here's why: However, investors should exercise caution. While this news is positive, AC Immune remains a clinical-stage company with no approved products. The company's financial health and stock performance will continue to be heavily influenced by clinical trial results and regulatory decisions. The Alzheimer's disease field is notoriously challenging, with many promising candidates failing in late-stage trials. Diversification and careful risk assessment are important when considering investments in this sector. | not-forward | www.stocktitan.net | https://www.stocktitan.net/news/ACIU/ac-immune-s-aci-35-030-now-jnj-2056-granted-fda-fast-track-v69qmbh12tgg.html |
The cost of insuring against a default by the government for five years using credit-default swaps is 38 basis points higher than for Russia, which is rated speculative grade by both S&P and Moody's, according to data compiled by Bloomberg. The only major emerging market with contracts more expensive than South Africa is Brazil, which is in the worst recession in a century and where President Dilma Rousseff is facing impeachment. Moody's put South Africa's credit rating on review for a downgrade in March because of a weaker growth and fiscal outlook. | not-forward | www.moneyweb.co.za | https://www.moneyweb.co.za/news/economy/junk-rating-matter-time-economy-falters |
"The change in the rating outlook to negative reflects Moody's assessment of the linkage between GPA and the financial health and stability of the Government of Guam," according to Moody's. "The change in the rating outlook to negative reflects Moody's assessment of the linkage between GPA and the financial health and stability of the Government of Guam." | not-forward | www.pacificislandtimes.com | https://www.pacificislandtimes.com/post/2018/03/17/gpa-bond-gets-negative-outlook-from-moodys |
Plans to build a $1bn battery plant in southern Japan have been shelved due to the "tough business environment", the company said. Ratings agencies meanwhile have downgraded Nissan to junk status, with Moody's citing "weak profitability" and "ageing model portfolio". The carmaker's shares have plummeted nearly 40% over the past year. Unlike Honda, Nissan is expected to be more severely impacted by the new tariffs. "Nissan's customers are historically more price-sensitive," noted Bloomberg's Yoshida in speaking to AFP. "They can't pass the costs on to consumers to the same extent as Toyota or Honda without suffering a significant loss in sales units." A much-speculated merger between Honda and Nissan had been seen as a potential stabilising move but collapsed in February, reportedly after Honda proposed making Nissan a subsidiary – an idea Nissan rejected. | not-forward | www.intellinews.com | https://www.intellinews.com/japan-s-auto-industry-left-reeling-under-tariff-pressure-as-honda-and-nissan-feel-the-pain-380985 |
"The point I make is that if we subsidise Qantas, why not subsidise everyone?" Abbott said in an interview on Melbourne radio station 3AW. "If we subsidise everyone, that's just a bottomless pit into which we will descend." The Australian flag carrier had been one just four airlines with investment grade ratings from Moody's or S&P. The remaining three are Lufthansa, Air New Zealand and Southwest Airlines. S&P's move to cut its main rating on the carrier to BB+, one rank below investment grade, could make it harder for debt-loaded Qantas to borrow funds. The airline could also lose some shareholders whose rules on investment prevent them from retaining stock in companies rated at junk level. Qantas warned yesterday that it expects a pre-tax first-half loss of between A$250 million and A$300 million (€166m to €199m) in the six months to December 31. S&P said that warning caused the carrier's financial risk profile to deteriorate, adding it may cut Qantas's rating again. | not-forward | www.independent.ie | http://www.independent.ie/business/shares-plummet-for-quantas-as-airlines-credit-rating-cut-to-junk-status-29815447.html |
also warned about the risk of Fannie Mae helping to trigger the financial crisis: With close to $2 trillion in debt between Freddie Mac and Fannie Mae alone, as well as several trillion held by commercial banks, failure of just one GSE or related entity could create a huge disaster that would easily eclipse the Savings & Loan Crisis of the late 1980s. This would certainly devastate the stock, bond and real estate markets. Most likely, there would also be an even bigger mess in the derivatives market, leading to a global sell-off in the capital markets. Not only would investors get crushed, but taxpayers would have to bail them out since the GSEs are backed by the government. Everyone would feel the effects. At its bottom, I would estimate a 30 to 35 percent correction for the average home. And in 'hot spots' such as Las Vegas, selected areas of Northern and Southern California and Florida, home prices could plummet by 55 to 60 percent from peak values. | forward | seekingalpha.com | https://seekingalpha.com/instablog/4596961-joseph-stuber/1266301-a-credit-downgrade-for-u-s-may-be-unavoidable |
A.M. Best Co. has placed the financial strength and debt ratings of the insurance and reinsurance subsidiaries of RenaissanceRe Holdings Ltd. (RenaissanceRe) [NYSE:RNR] (Bermuda) under review with negative implications. | not-forward | programbusiness.com | https://programbusiness.com/news/am-best-places-ratings-of-renaissancere-under-review-with-negative-implications |
Last week, influential global credit rating agency, Moody's, has revised India's economic prospects downwards, reflecting the vulnerabilities of the economy. Lower rating by any one of a handful of such rating companies have major implications. The Union Government has of course been extra quick to discard the downgrade and observed that the economy was in fine fettle. It rejected all the concerns raised by the credit rating agency. | not-forward | theshillongtimes.com | https://theshillongtimes.com/2019/11/13/modi-govt-bjp-leadership-have-now-left-with-no-excuse |
New Delhi: The fraud case at Punjab National Bank (PNB) underscores the urgent need for reforms at public sector banks, said rating agency S&P. It said that the fraud comes as the sector continues to reel from soaring non-performing assets (NPAs) in an extended downcycle. However, tighter regulatory standards combined with generous capital injections should strengthen balance sheets, according to an article published on Monday by S&P Global Ratings and titled, "Darkest Before The Dawn: Fraud Case May Hasten Reform For India's Banks." "We expect further losses at India's public sector banks but the bulk of previously unacknowledged stressed assets have already been recognised," said Deepali Seth-Chhabria, analyst at S&P Global Ratings. | forward | www.deccanchronicle.com | https://www.deccanchronicle.com/business/companies/060318/sp-psbs-need-urgent-reforms.html |
"We have seen repeatedly that failures to maintain and preserve required records can hinder the staff's ability to ensure that firms are complying with their obligations and the commission's ability to hold accountable those that fall short of those obligations, often at the expense of investors," said Sanjay Wadhwa, deputy director of the SEC's enforcement division, in the news release. | not-forward | www.pionline.com | https://www.pionline.com/regulation/sec-charges-sp-moodys-fitch-and-other-credit-rating-firms-record-keeping-violations |
Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk ( volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model. NEW YORK ( TheStreet ) -- Align Technology (Nasdaq: ALGN ) has been downgraded by TheStreet Ratings from buy to hold. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and increase in stock price during the past year. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and feeble growth in the company's earnings per share. Highlights from the ratings report include:. | not-forward | www.thestreet.com | https://www.thestreet.com/story/11900980/1/align-technology-inc-stock-downgraded-algn.html |
But in 2009, Fitch's expectations fell for certain first-lien residential mortgage-backed securities (RMBS), and because of this, Fitch increased the expected loss estimates related to first-lien RMBS exposures, the rating agency said. "We are pleased that Assured Guaranty Corp. and FSA remain in the double-A rating category, a designation indicative of significant financial strength," said Assured Guaranty's president and CEO Dominic Frederico in a statement. "We believe the one-notch rating downgrades primarily incorporate Fitch's stress loss estimates based on an extremely pessimistic view of the future performance of residential mortgage exposures and point out that Fitch noted our ability to mitigate potential future losses and improve rating agency capital." Loss estimates are outpacing growth in paying resources, putting more pressure on Fitch's revised performance expectations. | not-forward | www.housingwire.com | https://www.housingwire.com/articles/fitch-takes-assured-guaranty-down-another-notch |
Since the announcement of the merger deal, KR has utilized its solid free cash flow and debt financing to reinforce the company's balance sheet capacity and maintain its investment-grade rating. The strengthened balance sheet and sustainability of KR's model enable the company to grab several growth opportunities such as investing further in stores, an integral part of its 8-11% TSR model over time. Hence, the grocery giant Kroger will continue generating solid free cash flow along with making capital-allocation priorities and retaining its current investment-grade debt rating. The company will also keep investing in its business to bolster sustainable net earnings growth and return excess free cash flow to KR's shareholders through share repurchases and increasing dividends over time, which is subjected to the board's approval. | forward | www.zacks.com | https://www.zacks.com/stock/news/2382999/kroger-terminates-its-proposed-merger-with-albertsons:-what's-next |
"It is an indication that the market is concerned about large downside risk," said DeSimone. One-month skew shot up as high as 18.5 percent in late August and has largely remained elevated since then. The only other time the measure was higher was in March, following a credit downgrade of the electric car maker by Moody's Investors Service. The recent departure of two high-level executives, media reports of a U.S. Securities and Exchange Commission probe into Musk's tweets and the CEO being filmed smoking marijuana and wielding a sword on a webcast have weighed on Tesla's share price. Tesla stock is down about 25 percent from the multi-month high of $387.46 reached on Aug 7. On Wednesday, the shares were up 3.2 percent. Investors' skepticism about the fate of the shares is evident in the accumulation of large number of put contracts at the $50 strike price, expiring in September and mid-January. | not-forward | www.marketscreener.com | https://www.marketscreener.com/news/owning-tesla-shares-about-the-riskiest-it-has-ever-been-options-data--27250995 |
On Friday, rating agency Crisil said it has downgraded the long-term debt instruments and bank facilities of KKR India Financial Services to "CRISIL AA" from "CRISIL AA+". | not-forward | www.livemint.com | https://www.livemint.com/companies/news/rating-downgrade-at-kkr-s-nbfc-points-to-cracks-in-credit-strategy-11570557969259.html |
Italy's biggest bank, Intesa Sanpaolo (ISP.MI), said that last year it transferred credit risk through a number of deals on loans totalling 15.7 billion euros, with one worth 7.5 billion euros in the fourth quarter among Europe's largest. | not-forward | cyprus-mail.com | https://cyprus-mail.com/2023/04/05/europes-banks-ramp-up-bespoke-loan-trades-to-reduce-risk/ |
Empty Schools Declining school-age populations and enrollment are contributing to increased budget pressures and credit downgrades for Michigan public schools, Moody's Investors Service said Tuesday. (File photo) LANSING -- The number of Michigan public school districts seeing their credit ratings downgraded has exploded in 2013, with a 64 percent increase in the number of districts compared to last year, Moody's Investors Service said Tuesday. A total of 53 districts, or nearly one-quarter of the districts Moody's rates in Michigan, have been downgraded at least once since January, analysts with the company said in a report, and some districts have been downgraded more than once. The decline in ratings is attributed in the report to increased retirement system costs, a declining student population, declining enrollment compared to charter schools and an increase in the number of charter schools operating in the state. | not-forward | www.mlive.com | http://www.mlive.com/education/index.ssf/2013/11/more_michigan_school_districts_1.html |
Upward rating movement is unlikely at this point. Negative rating actions could occur if there were a worsening of risk-adjusted capitalisation tied to investment losses or a deterioration of the operating environment in key territories. The FSR of A (Excellent) and issuer credit rating of "a" has been removed from under review and affirmed with a negative outlook for Assicurazioni Generali S.p.A. and its following subsidiaries: The issuer credit rating of "bbb" of Generali France S.A. has been removed from under review and affirmed with a negative outlook. The following debt ratings have been removed from under review and affirmed with a negative outlook. | forward | www.finanznachrichten.de | http://www.finanznachrichten.de/nachrichten-2012-06/23729636-a-m-best-removes-from-under-review-and-affirms-ratings-of-generali-and-its-main-subsidiaries-assigns-negative-outlook-004.htm |
Recently on the wrong-end of a credit rating downgrade, the group's capital expenditure bill would not increase markedly as projects were still in the prefeasibility stage. "There's nothing to concern us on the funding abilities of both companies [Gold Fields and Sibanye Gold]," said Holland. | not-forward | www.miningmx.com | https://www.miningmx.com/news/gold/22065-all-eyes-on-south-deep-as-gold-fields-sets-stall |
Theratings are constrained by Sunac's limited geographicaldiversification and product mix. Its land banks are concentrated in Tianjin and Beijing,which together represent 53% of total sales in January-August2012 and 14 out of a total of 22 projects, without consideringthe Greentown projects. Its focus on mid- and high-endproperties implies that it is more exposed to the home purchaserestrictions imposed by the Chinese government. However, Fitch notes that this niche position is the maindriver of the company's high profitability, a key rating driver.Sunac's Stable Outlook reflects its adequate liquidity positiongiven its strong presales. The consideration of CNY3.4bn for theGreentown projects, which has been fully paid in August andSeptember, falls within Fitch's assumption of the company's landreplenishment expenditure in 2012. What could trigger a rating action? | not-forward | www.cnbc.com | https://www.cnbc.com/2012/10/04/textfitch-rates-sunacs-proposed-notes-bbexp.html |
Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk ( volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model. Johnson Controls ( JCI ) pushed the Automotive industry lower today making it today's featured Automotive laggard. The industry as a whole closed the day up 0.5%. By the end of trading, Johnson Controls fell 44 cents (-1.3%) to $33.34 on average volume. Throughout the day, 7.3 million shares of Johnson Controls exchanged hands as compared to its average daily volume of 5.1 million shares. The stock ranged in price between $33.08-$33.77 after having opened the day at $33.77 as compared to the previous trading day's close of $33.78. | not-forward | www.thestreet.com | https://www.thestreet.com/story/11888032/1/automotive-industry-underperformer-of-the-day-johnson-controls-inc-jci.html |
Such increases showcase the challenges that the economy is confronting in keeping pace with pent-up demand for goods—which could reverse as consumers switch to spending on services, according to S&P Global Market Intelligence. Today is Thursday, July 22, 2021, and here is today's essential intelligence. The Credit Cycle Global Actions on Corporations, Sovereigns, International Public Finance, and Project Finance to Date In 2021 The pace of rating actions has continued to decline after reaching highs in April 2021. The downgrade ratio (downgrades as a percentage of total rating actions) has also declined further; this month as of July 16, there have been only 10 downgrades compared with 28 upgrades. —Read the full report from S&P Global Ratings Credit FAQ: What Could Telesat Canada's Lightspeed Investment Mean for Credit Quality? | not-forward | www.spglobal.com | https://www.spglobal.com/en/research-insights/articles/daily-update-july-22-2021 |
At issue are the ratings handed out primarily by the three largest agencies: Moody's Corp., Fitch Inc. and Standard & Poor's. The ratings serve chiefly to help investors assess the strength of a company or portfolio. But bank regulators also use them, for, among other things, pinpointing areas to focus on in exams and determining permissible securities for a bank to hold. The financial crisis laid bare the flaws of the credit rating agencies, which gave high scores to what proved to be toxic mortgage-backed securities. This raised doubts about the agencies' objectivity in evaluating debt issuers that helped to fund their operations. As a result, the Dodd-Frank law included provisions designed to reduce the government's dependence on ratings, requiring them to come up with different methods for gauging credit strength wherever they now use external ratings. The law gives regulators a year "to remove any reference to or requirement of reliance on credit ratings." | forward | www.americanbanker.com | https://www.americanbanker.com/news/regulators-search-for-credit-rating-alternatives-likely-to-be-tough |
Find the way." The pressure was real. Citing former Moody's managers, Bloomberg reports that in 2000 one Moody's executive "visited Wall Street banking customers to pledge a closer, more cooperative relationship and asked whether any of his analysts were particularly difficult to work with." As a result of finding a way, the two companies were having a very profitable decade before everything began to collapse in 2007. Structured finance products, backed by mortgages or other forms of fixed-income assets, were all the rage. | not-forward | www.propublica.org | https://www.propublica.org/article/insiders-detail-how-greed-drove-credit-ratings-926 |
He currently serves on the Boards of the Robert Toigo Foundation, the National Forest Foundation, and the Investment Company Institute. ABOUT MOODY'S CORPORATION Moody's (NYSE: MCO) is a global integrated risk assessment firm that empowers organizations to make better decisions. Its data, analytical solutions and insights help decision-makers identify opportunities and manage the risks of doing business with others. We believe that greater transparency, more informed decisions, and fair access to information open the door to shared progress. | not-forward | www.businesswire.com | https://www.businesswire.com/news/home/20221018005438/en/moody’s-corporation-elects-jose-minaya-to-board-of-directors |
Tesco, already facing a severe slowdown in sales in its stores, said last month it had uncovered what has become a 263 million pound ($420 million) accounting hole, resulting in the suspension of eight senior members of staff and a Serious Fraud Office investigation. Moody's has already cut the supermarket group to one notch above junk, Baa3, and last week also put it on review for a further downgrade after first-half results showed the pension deficit and net debt growing, while trading profits slumped. The agency urged the group to lay out its plans or face further cuts — a warning to newly appointed Tesco Chief Executive Dave Lewis who said last week investors should not expect a big strategy announcement. "We expect to have a much better idea of the management's strategy within three months," Sven Reinke, the agency's lead analyst on Tesco, told Reuters. | forward | www.breitbart.com | http://www.breitbart.com/london/2014/10/31/without-a-plan-junk-status-looms-for-britains-tesco-moodys |
We are seeing moves in the main stocks and funds which track Spain: The Ibero-America Fund, Inc. (NYSE: SNF), iShares MSCI Spain Index (NYSE: EWP), Banco Bilbao Viscaya Argentaria (NYSE: BBVA), Banco Santander, S.A. (NYSE: STD), Repsol YPF SA (NYSE: REP), and Telefonica SA (NYSE: TEF). | not-forward | 247wallst.com | https://247wallst.com/banking-finance-and-taxes/2010/04/28/kissing-piigs-sp-downgrades-spain-snf-ewp-bbva-std-rep-tef |
But Richard Ciccarone, senior vice president and manager of fixed-income research at Kemper Capital Markets, said there are "enough reasons out there to justify a ratings downgrade." Mr. Ciccarone pointed to a growing negative unreserved balance, as reported on a generally accepted accounting principles basis, that he said could reach $1.5 billion in fiscal 1991, and to a cash balance system that allows the state to bolster its cushion by "holding back bills." He added that the state's use of so-called lapse-period spending to delay its fiscal 1991 bill payments into fiscal 1992 was also a negative factor for the rating. The state comptroller's office estimated that lapse-period spending will exceed $800 million. On Aug. 2, Standard & Poor's Corp. downgraded $4.2 billion of the state's GO debt to AA from AA-plus, citing "significantly weakened financial operations and position during the past two fiscal years." | not-forward | www.americanbanker.com | https://www.americanbanker.com/news/illinois-185-million-go-certificates-sale-to-spur-moodys-review-of-states-rating |
Eskom has noted rating agency Moody's downgrade of its unguaranteed credit ratings. Moody's downgraded to 'B3' from 'B2' the long-term corporate family rating (CFR) of Eskom. The zero coupon Eurobonds rating has similarly been revised to 'B3' from 'B2', in line with the CFR and the global medium term note (GMTN) programme. The senior unsecured GMTNs of Eskom were downgraded to '(P) Caa1/Caa1 from (P) B3/B3 with the outlook remaining negative. Moody's has simultaneously affirmed the Baa3 rating on Eskom's government guaranteed notes. "Eskom notes with disappointment the ratings decisions implemented by Moody's. The current board and management have worked painstakingly hard to try and resolve corporate governance issues of the past regime," said the power utility on Tuesday. | not-forward | www.sanews.gov.za | https://www.sanews.gov.za/south-africa/moodys-downgrades-eskoms-unguaranteed-credit-ratings |
Broadridge Financial Solutions Inc. plans to enhance clients' risk management by leveraging advanced pre-trade analytics features that provide real-time insights, predictive modeling, and tailored risk assessments, helping investors make informed decisions in complex market conditions. | forward | marketwirenews.com | https://marketwirenews.com/news-releases/broadridge-partners-with-bmll-to-bring-advanced-pre--6461428757526103.html |
MANILA (CBS.MW) -- As it struggles with more than a billion dollars in debt coming due in the next three years, Philippine Long Distance Telephone saw its credit ratings cut a couple of notches Monday by Standard & Poor's. | not-forward | www.marketwatch.com | https://www.marketwatch.com/story/pldts-debt-woes-prompt-sp-to-cut-credit-ratings |
China's central bank on Tuesday said it will allow banks to cut the minimum required mortgage down payment to 20 per cent from 25 per cent for first-home purchases as it steps up support for the property market. Reviving investment in real estate is crucial for the government, which cut interest rates six times since late 2014. Shanghai government-backed Greenland Holdings Corp Ltd is one of two Chinese issuers that Moody's has rated at the lowest investment-grade with a negative outlook. The other firm is state-owned China National Gold Group Corp. Moody's currently rates 20 Chinese companies one level above junk. Among them, 20 per cent had negative outlook or were on review for downgrades compared with 5 per cent at the end of 2014. "Fallen angels are a major risk for investors this year," said Owen Gallimore, a credit analyst at Australia & New Zealand Banking Group Ltd. | forward | www.businesstimes.com.sg | https://www.businesstimes.com.sg/banking-finance/fallen-angels-incoming-as-us23b-of-china-bonds-near-junk |
On November 10, Moody's downgraded PES Refining and Marketing corporate family rating from B1 to B3, probability of default rating dropped from B1-PD to B3-PD (meaning more likely to default), and downgraded ratings on certain loans from B1 to B3, with the overall outlook dropping from stable to negative (Note: Movement from non-investment grade B1 to B3 status indicates a trend from a highly speculative investment towards substantial investment risk). Moody's cited high leverage, weak refining margins predicted for 2017, high cost renewable fuel credits, maturation of debt in April 2018, and other factors as contributing to the downgrade, but mentioned PES's experienced management team as an asset. | not-forward | kleinmanenergy.upenn.edu | https://kleinmanenergy.upenn.edu/blog/2017/03/14/does-trump-help-or-hurt-phillys-struggling-neighborhood-refinery |
Standard & Poor's warned that AMP's credit ratings could be "negatively affected" if this happened, although AMP claimed it had the money to cover any pay-out in any case. Moody's said there could be further legal action and, if in default, one outcome was that AMP "may be forced to accelerate the repayment on its senior corporate debt", a further $1.25 billion. Both AMP and Perpetual said they had received "inquiries" about the matter from investors but AMP was sticking by its line there had been no default. | forward | www.smh.com.au | https://www.smh.com.au/national/another-1-24bn-problem-for-amp-20031121-gdhtpg.html |
Credit rating agency Moody's Corporation reiterated on Monday that it may also decide to lower the US Debt Rating before 2013, unless the country takes significant steps to reign in it's spending and increase it's fiscal discipline. In order to maintain the "AAA" rating the US has held for the past 70 years, the rating agency stated that the ratio of debt to GDP of the United States should not exceed 75% by 2015 and should decline thereafter. According to Moody's, reaching a political agreement on further reductions in spending by early 2013 appears "difficult but not impossible." On Friday, Standard & Poor's downgraded the US Debt Rating from "AAA" to "AA +", in an unprecedented move for the United States, which some interpret as a signal of the decline of the US economy's unrivaled global hegemony over the past 2 decades. | forward | www.forexnewsnow.com | https://www.forexnewsnow.com/top-stories/us-debt-crisis-moody’s-forecasts-a-us-downgrade-by-2013-standards-poors-us-debt-rating |
Other players in the same industry, CIGNA Corp. ( CI ), UnitedHealth Group Inc. ( UNH ) and WellPoint Inc. ( WLP ) all carries an investment grade rating from A.M. Best. | not-forward | finance.yahoo.com | http://finance.yahoo.com/news/m-best-affirms-aetnas-ratings-222002593.html |
Fitch Ratings downgraded Truist Financial's credit rating, calling the insurance business it is selling an "important source of revenue and business diversification. | not-forward | programbusiness.com | https://programbusiness.com/news/fitch-downgrades-truist-on-insurance-sale |
RESTAURANT GROUP Restaurant Group, which owns Frankie & Benny's, has had its rating downgraded from "buy" to "hold" at Canaccord Genuity, with a target price of 700p down from 760p. The broker says the Uefa football championships and Olympics will be a distraction next year. The living wage kicking in will put pressure on operating margins, which will hit the group hard as "we do not think [it] has any pricing power, especially outside London". | forward | www.cityam.com | https://www.cityam.com/best-brokers-18-november-2015 |
KEY MARKET The UK-based Aviation Working Group, which monitors leasing practices, has put India on a watchlist with a negative outlook. Standard Chartered's Pembroke Aircraft Leasing, CDB Aviation's GY Aviation Leasing and BOC Aviation have initiated proceedings to repossess planes from Go First. India is a critical market for lessors, in which sale-and-leaseback deals accounted for 75% of plane deliveries from 2018 to 2022, compared with a global average of 35%, according to analytics firm Cirium. But it has also been a challenging one with Go First following Kingfisher and Jet Airways - both of which went bankrupt over the last decade-plus. There are also growing concerns among some lessors about carrier SpiceJet against which Aircastle has sought to initiate bankruptcy proceedings. SpiceJet has said it is in the process of reviving its grounded fleet and has "no plans whatsoever" to file for insolvency. | not-forward | finance.yahoo.com | https://finance.yahoo.com/news/aercap-says-jet-recovery-dispute-143350965.html |
"Germany needs Europe and our common currency.'" MBIA Shares Up after JPMorgan Drops Insurance Split Suit (Bloomberg) "MBIA Inc. shares surged after JPMorgan Chase Bank NA and Barclay's Bank Plc said they are withdrawing from a lawsuit over the company's decision to split its insurance unit in two. The bond insurer's stock rose 8.8 percent to $10.36, the most in the Russell 1000 Index today and its biggest gain since Oct. 14.In February 2009, the Armonk, New York-based debt insurer separated its municipal bond insurance business from its structured-finance guarantees, including those on mortgage- related securities that caused MBIA to lose its AAA credit ratings in 2008. | not-forward | www.cnbc.com | https://www.cnbc.com/2010/12/31/mbia-shares-up-after-jpmorgan-drops-insurance-split-suit.html |
Standard & Poor's recently downgraded MRO to its lowest investment-grade credit rating. By being on the precipice of junk bond status, Marathon Oil could only get bondholders interested by adding yet more higher-yielding debt to its balance sheet. The company already carries $7.3 billion in long-term debt. | not-forward | www.nasdaq.com | http://www.nasdaq.com/article/marathon-oil-corporation-mro-desperation-move-screams-sell-cm586702 |
The stock of Zambia's largest private sector employer, Glencore, slumped in the market this week, dragging the already struggling Zambian currency into further crisis. The Zambian kwacha has declined 48 percent against the dollar this year, the most of the over 150 currencies tracked by Bloomberg. An electricity shortage and weak copper prices have put pressure on Zambia's mining industry, prompting Glencore—a commodity trading and mining corporation— to suspend some mining operations until 2017, thus threatening output, jobs, and economic growth. Citing these concerns, this week Moody's Investors Service cut its rating for Zambia by one step to B2, five levels below investment grade. The finance ministry urged investors to ignore the "unsolicited" credit downgrade by Moody's, arguing that the country only has rating relationships with Fitch Ratings Ltd. and Standard & Poor's. | not-forward | www.brookings.edu | https://www.brookings.edu/blog/africa-in-focus/2015/10/02/africa-in-the-news-buhari-submits-cabinet-nominees-zambias-credit-rating-takes-hit-and-central-african-republic-elections-delayed/?msg=fail&shared=email |
Ratings agency S&P Global has reportedly knocked down the credit rating of Coinbase (COIN) after the crypto exchange revealed its financials for the second quarter of this year. | not-forward | dailyhodl.com | https://dailyhodl.com/2022/08/15/sp-global-knocks-down-coinbase-credit-rating-after-exchange-posts-1-1-billion-net-loss-in-q2-report |
Credit rating agency Fitch downgraded Ireland's score to BBB+. Needless to say, this came as no surprise. Credit rating agencies such as S&P, Moody's and Fitch are always late. The real credit rating is better reflected in CDS – Credit Default Swaps. It's no news that the Irish sovereign is having trouble, due to its banks. | not-forward | www.forexcrunch.com | https://www.forexcrunch.com/ireland-downgraded-by-fitch |
El Pollo Loco is currently seeking highly qualified, multi-unit operators in Northern California, Arizona, Colorado, New Mexico, Nevada and Texas. For more information visit https://elpolloloco.com/franchising/. About El Pollo Loco El Pollo Loco (Nasdaq:LOCO) is the nation's leading fire-grilled chicken restaurant chain renowned for its masterfully citrus-marinated and fire-grilled chicken and handcrafted entrees using fresh ingredients inspired by Mexican recipes. With more than 420 company-owned and franchised restaurants in Arizona, California, Nevada, Texas and Utah, El Pollo Loco is expanding its presence in key markets like Houston and Dallas through a combination of company and existing and new franchisee development. Some say the lengths we go to create fresh, delicious food are crazy. We say it's Crazy You Can Taste. Visit us on our website at ElPolloLoco.com. | forward | www.globenewswire.com | https://www.globenewswire.com/news-release/2015/12/31/798781/0/en/El-Pollo-Loco-Opens-Newest-Restaurant-in-Lodi-CA.html |
Moody's assigns its B3 rating for obligations that are considered speculative and subject to high credit risk. "The downgrade reflects heightened liquidity risk at Macrotech, because of the company's lack of sufficient progress in refinancing its upcoming debt maturities," says Sweta Patodia, an analyst with Moody's. | not-forward | www.business-standard.com | https://www.business-standard.com/amp/article/companies/rating-downgrade-by-moody-s-shows-liquidity-crunch-at-lodha-developers-119080201946_1.html |
This explains the relatively smaller institutional ownership in Tesla compared to big techs such as Apple, Inc. AAPL and Amazon, Inc. AMZN. The increased buying interest could give a lift to the sagging stock, which has not received the much-needed lift from the recent stock split the company implemented. Tesla stock closed Friday's session at $270.21, down 2.51%, according to Benzinga Pro data. Photo: Created with an image from TED Conference on flickr | not-forward | www.benzinga.com | https://www.benzinga.com/news/22/09/28743498/elon-musk-calls-out-this-rating-agency-as-irrelevant-and-heres-the-context |
The agency decided to take the step after its parent institution Osterreichische Volksbanken announced that it had come to an agreement with Russia's Sberbank to sell its stake in Volksbank International (VBI), of which Volksbank Slovensko forms part. VBI owns 93 percent of the shares in Volksbank Slovensko, with Osterreichische Volksbanken holding 51 percent of VBI. Sberbank plans to buy out the stakes of all other VBI shareholders in order to gain full control of the group. It is expected that the transaction will take place by the end of this year. The purchase needs to be authorised by the regulatory authorities first, however. | forward | spectator.sme.sk | https://spectator.sme.sk/c/20040533/fitch-reconsidering-volksbank-slovensko-credit-rating.html |
The SMIC bonds carry a triple-A rating from local credit watcher Philippine Ratings Services Corp.. This rating denotes that such obligations are deemed of the highest quality with minimal credit risk while financial commitment to meet obligations is extremely strong. | not-forward | business.inquirer.net | https://business.inquirer.net/67709/smic-launches-p10-b-bond-offer |
CNA Financial's fixed-income investment strategy with the highest allocations to diversified investment grade corporates, as well as highly rated municipal securities, should support investment results. CNA has been able to maintain the underlying combined ratio below 95 for 13 straight quarters. Despite the elevated industry catastrophe losses in 2023, the P&C all-in combined ratio was strong at 93.5, while the P&C underlying combined ratio was 90.9%, which improved 30 basis bps year over year. The company has a solid balance sheet, with capital remaining above the target levels required for all ratings. | not-forward | www.zacks.com | https://www.zacks.com/stock/news/2227791/heres-why-you-should-hold-cna-financial-cna-stock-now/?art_rec=blog-analyst_blog-up_next-ID01-txt-2227791 |
SINGAPORE (S&P Global Ratings) Jan. 14, 2020–S&P Global Ratings today revised its outlook on the Sri Lanka sovereign credit rating to negative from stable. We affirmed our 'B' long-term and 'B' short-term foreign and local currency credit ratings on Sri Lanka. The transfer and convertibility assessment is affirmed at B. | not-forward | economynext.com | https://economynext.com/sri-lanka-credit-outlook-downgraded-to-negative-on-tax-cuts-by-standard-and-poors-40118 |
"The strong cash flows generated from our core businesses allow us to support a solid dividend to our shareholders," said Matt Cox, Matson's President and Chief Executive Officer. "At the same time, we have the financial capacity to maintain a strong investment grade metric balance sheet while also providing for growth investments and any future vessel replacement needs." The dividend is payable March 7, 2013 to Matson shareholders of record as of the close of business on February 14, 2013. Founded in 1882, Matson is a leading U.S. carrier in the Pacific. | forward | www.marinelink.com | https://www.marinelink.com/news/dividend-quarter-matson351057 |
Property market weakness has prompted Fitch Ratings to downgrade the credit rating of some builders into junk territory, including Vanke and Longfor Group Holdings. | not-forward | www.businesstimes.com.sg | https://www.businesstimes.com.sg/property/china-home-sales-drought-persists-little-hint-turnaround |
He's not alone. Alex Pourbaix, chief executive officer of Cenovus Energy Inc., warned this week that Alberta faces a "wholesale economic catastrophe." And DBRS, the credit rating agency, declared that "Canada's oil sector has become untethered from global oil market dynamics." | not-forward | www.theglobeandmail.com | https://www.theglobeandmail.com/business/article-alberta-oil-price-collapse-raises-fears-of-economic-contagion |
Moody's Investors Service cut Sears Holdings Corp.'s corporate family credit rating to "Caa2" from "Caa1" and questioned the viability of its Kmart business. | not-forward | wwd.com | https://wwd.com/business-news/financial/moodys-cuts-sears-credit-rating-kmart-future-10760197 |
"The things that city managers can control, they are controlling very well," Beckett said. In December, fellow rating agency Moody's Investors Service improved its outlook on a slightly lower credit rating to stable from negative. Moody's attributed the incremental improvement to growing income tax and business privilege tax revenues as well as Mayor Ray O'Connell's decision to raise its property tax rate 13%, which "demonstrated willingness to increase tax revenue rather than rely on one-time cash inflows to support ongoing operations." Like S&P, Moody's dinged the city for its low median income as well as its for its "stagnant and well-above-average unemployment" rate — 6.3% compared with 4% nationally as of last July. In its report last week, S&P noted that Lehigh County's unemployment rate spiked to 16.5% in April. As of June, it remained at 14.3%, higher than the 13% statewide rate. | not-forward | www.mcall.com | https://www.mcall.com/news/local/allentown/mc-nws-allentown-credit-rating-update-sp-coronavirus-20200831-cr6mzikw3ram5a4cua5rga7r5m-story.html |
Despite the state legislature approving the tax increases, credit rating agency Moody's Corporation (NYSE:MCO) is unimpressed. So big are the Illinois government's pension, healthcare, and other fiscal obligations that they still may see their credit rating downgraded to "junk." That would mark the first time that an American state has achieved that dubious distinction. We're talking about the fifth-biggest state in the Union. | forward | born2invest.com | https://born2invest.com/articles/financial-crisis-2008-usa-economy |
Obinna Chima Standard & Poor's (S&P), one of the world's leading index providers and independent credit ratings has downgraded Nigeria's rating further from 'B+' to 'B/B'. The agency stated this in its rating released friday. It pointed out that Nigeria's economy had weakened more than expected owing to a restrictive foreign exchange regime, a marked contraction in oil production, and delayed fiscal stimulus. Furthermore, it noted that although Nigeria's general government debt has remained low, debt servicing costs as a percentage of general government revenues was high and rising. To this end, S&P's analysts stated that: "We are therefore lowering our long-term global scale ratings on Nigeria to 'B' from 'B+' and our long and short-term national scale ratings on Nigeria to 'ngBBB/ngA-2' from 'ngA/ngA-1'. "The stable outlook signals our assessments that at this lower rating the risks to the government's credit standing are balanced. | not-forward | www.thisdaylive.com | https://www.thisdaylive.com/index.php/2016/09/17/sp-lowers-nigerias-rating-to-bb-on-weak-growth |
A Newsmax report on the situation said DirecTV refused to pay carriage fees for the channel, "even though its pays 22 liberal news and information channels' fees, many with ratings much lower than Newsmax." The outlet didn't say which news channels had lower ratings than Newmax; DirecTV carries far fewer than 22 cable news channels across its system. Newsmax said three other cable systems agreed to its demand for carriage fees during retransmission negotiations within the last year. | not-forward | thedesk.net | https://thedesk.net/news/directv-drops-newsmax-other-ways-to-stream |
Personnel, resources and investors linked to Lu's Car and UCar backed Luckin's expansion. That startup strategy has backfired. Car Inc.'s Hong Kong-traded shares have lost more than half their value since Luckin's fraud disclosure amid concerns the company could face its own credit crunch due to its connection to Luckin through Lu. The company's credit rating was subsequently downgraded. | not-forward | www.caixinglobal.com | https://www.caixinglobal.com/2020-04-20/in-depth-investors-sip-the-bitter-taste-of-the-luckin-coffee-scandal-101544557.html |
Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk ( volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model. NEW YORK ( TheStreet ) -- Canadian Pacific Railway (NYSE: CP ) is trading at unusually high volume Tuesday with 1.6 million shares changing hands. It is currently at two times its average daily volume and trading up $3.79 (+3.4%) at $115.80 as of 4 p.m. ET. Canadian Pacific Railway has a market cap of $19.38 billion and is part of the services sector and transportation industry. Shares are up 10.2% year to date as of the close of trading on Monday. | not-forward | www.thestreet.com | https://www.thestreet.com/story/11826061/1/canadian-pacific-railway-rises-on-unusually-high-volume-cp.html?cm_ven=CNNMONEY&puc=CNNMONEY |
Coles shareholders approved the sale to Wesfarmers two months ago, prompting warnings by the international credit-rating agency Fitch Ratings that debt market volatility could be a problem for Wesfarmers. The credit agency would have preferred a larger proportion of the $10 billion as longer term debt. | not-forward | www.smh.com.au | https://www.smh.com.au/business/wesfarmers-in-4b-squeeze-20080110-1lah.html |
Meanwhile, Rizal Commercial Banking Corporation (RCBC) Chief Economist Michael L. Ricafort said given the uncertainties in the global economy, there is a possibility that NPLs could even reach 2 percent this year. | forward | businessmirror.com.ph | https://businessmirror.com.ph/2025/06/10/banks-april-npl-highest-in-5-months |
Fitch downgraded the credit rating of major Chinese property developer Vanke on Friday, the second agency to do so in 10 days as the country's property sector grapples with unprecedented challenges. | not-forward | www.mingtiandi.com | https://www.mingtiandi.com/real-estate/crelist/roundup-country-garden-sells-project-to-guangdong-soe |
As of September 30, 2022, ILPT's portfolio consisted of 413 properties containing approximately 60.0 million rentable square feet located in 39 states. More than 78.1% of ILPT's annual rental revenues as of September 30, 2022 are derived from investment grade tenants, tenants that are subsidiaries of investment grade rated entities or Hawaii land leases. ILPT is managed by The RMR Group RMR, a leading U.S. alternative asset management company with over $37 billion in assets under management as of September 30, 2022 and more than 35 years of institutional experience in buying, selling, financing and operating commercial real estate. | not-forward | www.benzinga.com | https://www.benzinga.com/pressreleases/22/10/b29406394/industrial-logistics-properties-trust-announces-third-quarter-2022-results |
Matthew Chow, a director at rating agency S&P Global, said Evergrande's deep discount offer is likely to be "company specific" because it has short-term debt obligations coming due. "Evergrande relies a lot on its cash generation to tackle all the upcoming obligations; sales is obviously one of Evergrande's key cash inflow," he said. REUTERS | forward | www.businesstimes.com.sg | https://www.businesstimes.com.sg/real-estate/chinese-property-firms-weigh-cutting-prices-after-evergrandes-deep-discounts |
Qudian uses big data to do customized credit assessments, targeting young, digital consumers who use its relatively small loans to buy items like laptops and smartphones. Many such borrowers were traditionally overlooked by China's old state-run banking system, which lacks the technology and experience to run such quick credit checks. | not-forward | thebambooworks.com | https://thebambooworks.com/qudian-shares-sink-into-danger-zone-as-it-fails-to-find-new-footing |
The Boston Museum of Fine Arts, which took on a sizable amount of debt in recent years with the opening of two new wings (currently, $175 million of outstanding Series A-1 and A-2 variable-rate demand bonds that the institution has issued through the Massachusetts Health and Educational Facilities Authority), recently was affirmed by Moody's in its Aa2 rating, its third-highest rating for institutions. Those bonds reach maturity in 2037, but bond holders could cash in early, which could cause the museum considerable financial stress since its ability to quickly monetize assets is restricted by donors when they made gifts to the institution. Bond holders would be more apt to cash out early if the museum's credit rating and long-term forecast declines, so Moody's determination that the museum's outlook is stable is a matter of dollars and cents. | not-forward | observer.com | https://observer.com/2014/04/credit-rating-your-local-museum |
MCLEAN, Va., May 22, 2018 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB:FMCC) further reduces mortgage credit risk with the settlement of an $880 million transaction of Structured Agency Credit Risk (STACR ® ) 2018-HRP-1 Notes (STACR SHRP Notes). The SHRP Notes represent the first STACR transaction in which the notes are issued by a special purpose trust rather than as Freddie Mac debt. "STACR SHRP Notes represent our most recent innovation of our flagship STACR program and are designed to reduce the accounting volatility of our earnings and move us closer to the durable credit risk transfer (CRT) structure of the future," said Mike Reynolds, vice president of credit risk transfer. "Over the last nine months alone, we have introduced five new single-family CRT offerings and we continue to explore options to transfer mortgage credit risk per the FHFA Scorecard." | not-forward | www.globenewswire.com | https://www.globenewswire.com/news-release/2018/05/22/1510415/0/en/Freddie-Mac-Closes-First-SHRP-Deal-of-the-Year.html?print=1 |
The list of 10 banks that were demoted includes Webster Financial Corporation, Commerce Bancshares, Pinnacle Financial Partners, M&T Bank Corporation, BOK Financial Corporation, Bancshare, Prosperity Bancshares, Amarillo National Bancorp Incorporated, Old National Bancorp, Associated Banc-Corp. | not-forward | www.thecoinrepublic.com | https://www.thecoinrepublic.com/2023/08/29/top-rating-company-downgrades-the-ratings-of-10-u-s-banks |
The new Corker-Warner housing finance bill admirably would dissolve Fannie Mae and Freddie Mac and bring the GSE era to an end. But in their place, the government would explicitly guarantee most of the securitized mortgage market. This will be much to the satisfaction of all parties who walk away with their cash at the closing and leave all the credit risk and house price risk to somebody else, especially taxpayers. It will appeal to foreign and domestic investors and to mortgage-backed securities traders who don't want to be bothered with any credit risk. | forward | www.americanbanker.com | http://www.americanbanker.com/bankthink/corker-warners-federal-guarantee-is-superfluous-1060286-1.html |
The big global credit rating agency Moody's, which devotes a considerable amount of time and energy to studying the risks building up in the likes of the big four banks, earlier this month forecast house prices had another 10 per cent to fall nationally. | forward | www.abc.net.au | https://www.abc.net.au/news/2019-05-02/negative-equity-on-the-rise-as-house-prices-continue-to-fall/11061780 |
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