AM Best has affirmed the Financial Strength Rating of A and the Long-Term Issuer Credit Ratings of ?a+? of Symetra Life Insurance Company and its subsidiary, First Symetra National Life Insurance Company of New York, together referred to as Symetra Life Group.
* World stocks up 6% after rollercoaster few months. * Bond markets see huge swings between hope and fear. * Banking turmoil evokes memory of crises past. * Dollar slips whereas bitcoin roars back to form. By Marc Jones.
As the dust settles on a surprise move by Switzerland to write down $17 billion of bonds under Credit Suisse's rescue, the market for debt designed as a shock absorber for banks faces a long haul to regain investor trust.
DALLAS, March 30, 2023 ?EnLink Midstream (ENLC), LLC today announced the pricing of its offering of $300.0 million aggregate principal amount of its 6.500% senior notes due 2030 at a price of 99.000% of their face value.
AM Best has affirmed the Financial Strength Rating of B++ and the Long-Term Issuer Credit Rating of ?bbb? of Equitable Financial Life and Annuity Company. The ratings reflect EFLA?s balance sheet strength, which AM Best assesses as adequate, as well as its marginal operating performance, limited business profile and appropriate enterprise risk management.
S&P : * S&P, ON GLOBAL CREDIT CONDITIONS IN Q2, SAYS HIGH INTEREST RATES TO LIKELY FURTHER STRAIN CREDIT FINANCING COSTS AND ASSET PRICES. * S&P ON Q2 GLOBAL CREDIT CONDITIONS: TIGHTER FINANCING CONDITIONS, MORE CONSERVATIVE LENDING STANDARDS, MAY PUSH MANY ECONOMIES CLOSER TO HARD LANDING.
Adani Group executives met U.S. investors from BlackRock Inc (BLK), Blackstone Inc (BX) and Pacific Investment Management in order to market privately placed bonds, Bloomberg News reported on Wednesday. The company aims to raise up to $1 billion in two tranches this year through this route, the report said citing sources. Adani Group declined to comment on the report.
Wolters Kluwer receives Moody?s rating upgrade to A3 Alphen aan den Rijn ? March 30, 2023 ? Moody's Investors Service has upgraded Wolters Kluwer N.V.'s (WOLTF) senior unsecured ratings to A3 from Baa1. According to Moody?s, the upgrade reflects Wolters Kluwer?s ?strong operating performance and credit metrics, as well as its improved business profile and resiliency to economic cycles.
DALLAS, March 30, 2023 EnLink Midstream, LLC (ENLC) today announced its intention, subject to market conditions, to commence an offering of $300.0 million aggregate principal amount of its 6.500% senior notes due 2030. EnLink intends to use the net proceeds from the offering to repay outstanding borrowings under its revolving credit facility.
AM Best has downgraded the Long-Term Issuer Credit Rating to ?bb? from ?bb+? and affirmed the Financial Strength Rating of B of Southern General Insurance Company. The ratings reflect Southern General?s balance sheet strength, which AM Best assesses as adequate, as well as its marginal operating performance, limited business profile and marginal enterprise risk management.
DENVER, March 30, 2023 Lumen Technologies, Inc. (LUMN) announced the early results of the previously announced offers by its indirect, wholly-owned subsidiary, Level 3 Financing, Inc., to issue senior secured notes in exchange for senior unsecured notes of Lumen.
Stem, Inc. (STEM) announced today the pricing of $200 million aggregate principal amount of 4.25% Green Convertible Senior Notes due 2030 in a private offering, which was upsized from the previously announced $175 million offering, to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended.
?. Consort Healthcare Funding plc. GBP398,680,000 1.972per cent Index Linked. Guaranteed Secured Bonds due 2044. ISSUE NAME. Our Ref. ISIN Code. INTEREST AMT PER DENOM. CURRENCY CODE. DAY BASIS. NUM OF DAYS. INTEREST RATE. VALUE DATE. INTEREST PERIOD. GBP 1,000.00 IS GBP 12.72. POOL FACTOR.
?. Consort Healthcare Funding plc. GBP 63,964,000 2.9753 per cent. Index-Linked Guaranteed Secured Bonds due 2040. ISSUE NAME. Our Ref. ISIN Code. INTEREST AMT PER DENOM. CURRENCY CODE. DAY BASIS. NUM OF DAYS. INTEREST RATE. VALUE DATE. INTEREST PERIOD. GBP 1,000.00 IS GBP 16.63613. POOL FACTOR.
AM Best has assigned a Financial Strength Rating of B+ and a Long-Term Issuer Credit Rating of ?bbb-? to Interamericana de Fianzas y Seguros, S.A.. The outlook assigned to these Credit Ratings is stable.
AM Best has affirmed the Financial Strength Rating of B+ and the Long-Term Issuer Credit Rating of ?bbb-? of Acerta Compa?ia de Seguros, S.A.. The outlook of these Credit Ratings is positive. The ratings reflect Acerta?s balance sheet strength, which AM Best assesses as strongest, as well as its marginal operating performance, neutral business profile and marginal enterprise risk management.
AM Best has affirmed the Financial Strength Rating of B++ and the Long-Term Issuer Credit Rating of ?bbb? of Alaska Timber Insurance, Inc.. The outlook of these Credit Ratings is negative. The ratings reflect ATI?s balance sheet strength, which AM Best assesses as very strong, as well as its marginal operating performance, very limited business profile and appropriate enterprise risk management.
Moody's: * MOODY'S ON PANAMA'S BANKING SYSTEM OUTLOOK SAYS ECONOMIC RECOVERY LIMITS ASSET RISKS, HELPS SUPPORT PROFITABILITY AND STABLE OUTLOOK Source text for Eikon:
MOODY'S: * MOODY'S ON BANKING SYSTEM OUTLOOK FOR ICELAND: OUTLOOK STABLE AS STRONG CAPITAL AND CORE PROFITABILITY OFFSET WEAKER ASSET QUALITY Source text for Eikon: Further company coverage: [ ]
MOODY'S: * MOODY'S ON URUGUAY'S BANKING SYSTEM OUTLOOK SAYS SOLID CAPITAL AND EARNINGS MAINTAIN STABILITY AS ASSET RISKS SLOWLY RISE Source text for Eikon:
Adani Group executives met U.S. investors from BlackRock Inc (BLK), Blackstone Inc (BX) and Pacific Investment Management in order to market privately placed bonds, Bloomberg News reported on Wednesday. The company aims to raise up to $1 billion in two tranches this year through this route, the report said citing sources. Adani Group did not immediately respond to a Reuters request for comment.
Moody's : * MOODY'S AFFIRMS FIRST-CITIZENS BANK'S RATINGS, CHANGES OUTLOOK TO NEGATIVE ON ACQUISITION OF SILICON VALLEY BRIDGE BANK, N.A. Source text for Eikon: Further company coverage:
AM Best has affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Rating of ?aa-? of Zurich Insurance plc, a subsidiary of Zurich Insurance Group Ltd. The outlook of the FSR is stable while the outlook of the Long-Term ICR is positive.
AM Best has affirmed the Financial Strength Rating of B++ and the Long-Term Issuer Credit Rating of ?bbb? of Momentum Life Limited. The ratings reflect Momentum Life?s balance sheet strength, which AM Best assesses as adequate, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
Stem, Inc. (STEM) announced today its intention to offer, subject to market conditions and other factors, $175 million aggregate principal amount of green Convertible Senior Notes due 2030 in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended.
* FITCH AFFIRMS JAPAN AT 'A'; OUTLOOK STABLE. * FITCH SAYS EXPECT JAPAN'S GENERAL GOVERNMENT DEFICIT TO NARROW TO ABOUT 5% OF GDP IN FISCAL YEAR ENDING MARCH 2023. * FITCH- FORECAST REAL GDP GROWTH FOR JAPAN AT 1.3% IN 2023. * FITCH SAYS HIGHER ENERGY PRICES AND YEN DEPRECIATION SPURRED INFLATION IN JAPAN, WE FORECAST TO AVERAGE 2.7% IN 2023.
Rexford Industrial Realty Inc (REXR) : * REXFORD INDUSTRIAL ANNOUNCES PRICING OF $300 MILLION OF 5.000% SENIOR UNSECURED NOTES DUE 2028 Source text for Eikon: Further company coverage:
LOS ANGELES, March 28, 2023 Rexford Industrial Realty, Inc. (REXR), a real estate investment trust focused on creating value by investing in and operating industrial properties in Southern California infill markets, today announced that its operating partnership, Rexford Industrial Realty, L.P., has priced a public offering of $300 million aggregate principal amount of 5.000% senior notes due 2028.
AM Best has assigned Long-Term Issue Credit Ratings of ?a? to UnitedHealth Group Incorporated?s [NYSE: UNH] recently issued $1.25 billion 4.250% senior unsecured notes, due 2029, $1.5 billion 4.5% senior unsecured notes, due 2033, $2 billion 5.05% senior unsecured notes, due 2053, and $1.75 billion 5.2% senior unsecured notes, due 2063.
- Level of Refinancing demonstrates the resilience of Renew?s funding engine - Most of the pending dollar bond maturities are now slated for FY2027 and beyond ReNew Energy Global Plc (RNW), India?s leading clean energy company and a preferred decarbonisation partner, announced on Tuesday that it has repaid more than $1 billion to its offshore bondholders in FY 2023.
Fitch Ratings : * FITCH RATINGS: CREDIT SUISSE TAKEOVER WILL PROFOUNDLY CHANGE SWISS BANK SECTOR. * FITCH- CREDIT SUISSE-UBS DEAL, EVENTS THAT LED TO IT TO RESULT IN CHANGES TO SWISS BANKING SECTOR AFFECTING PERFORMANCE, REGULATION, RISKS FOR LONG-TERM.
The Fed is not likely to cut interest rates, despite what markets may be anticipating, according to BlackRock Inc. . In a Bloomberg interview on Tuesday, Wei Li, chief investment strategist at BlackRock, said that "the economy is resilient and a recession will be pushed out later" and thus markets are wrong in pricing rate cuts down the road.
InterPrice Technologies, a Nasdaq Ventures-backed treasury capital markets platform, announced that it has launched its bank API connectivity to instantly connect corporate treasury teams with their banking relationship partners. ?Having been one of the earliest adopters of the InterPrice platform, we are very pleased to see instant and direct connectivity with our relationship banks.
Bed Bath & Beyond Inc (BBBY) is laying off about 1,300 employees at four locations in New Jersey, including at discount health and beauty chain Harmon, a Worker Adjustment and Retraining Notification notice showed on Friday.
Alliant Energy Corp (LNT): * WISCONSIN POWER AND LIGHT COMPANY PRICES PUBLIC OFFERING OF GREEN BONDS. * WISCONSIN POWER AND LIGHT COMPANY - $300 MILLION IN GREEN BONDS WILL BE DUE IN 2033. * WISCONSIN POWER AND LIGHT COMPANY - PRICING OF PUBLIC OFFERING OF $300 MILLION AGGREGATE PRINCIPAL AMOUNT OF 4.950% DEBENTURES Source text for Eikon: Further company coverage:
Pioneer Natural Resources Company (PXD) today announced that it has priced a public offering of $1.1 billion of 5.100% Senior Notes that will mature March 29, 2026, pursuant to an effective shelf registration statement that was previously filed with the Securities and Exchange Commission.
$300 million in green bonds will be due in 2033 Wisconsin Power and Light Company, a wholly owned subsidiary of Alliant Energy Corporation (LNT), announced the pricing of its public offering of $300 million aggregate principal amount of 4.950% debentures.
NEW YORK, March 27, 2023 ?Inspired Entertainment, Inc. (INSE), a leading B2B provider of gaming content, systems and solutions, announced today that Fitch Ratings? has upgraded Inspired's corporate rating to 'B' from 'B-'.
FITCH: * FITCH AFFIRMS NEW YORK COMMUNITY AT 'BBB'; OUTLOOK STABLE. * FITCH - SIGNATURE BRIDGE BANK DEAL ADDS LIQUIDITY TO NYCB'S BALANCE SHEET, COULD ASSIST IT IN BECOMING MORE RELATIONSHIP DRIVEN, DEPOSIT FOCUSED. * FITCH - ULTIMATE ECONOMIC VALUE OF SIGNATURE BRIDGE BANK, N.A. TRANSACTION WILL BE DETERMINED BY NYCB'S ABILITY TO RETAIN TALENT AND DEPOSITS ACQUIRED.
Moody's has downgraded the long-term deposit ratings of mBank and changed the outlook to negative from "under review" citing risks stemming from the legacy of Swiss franc loans at Polish lenders, the agency said. Moody's has downgraded the long-term issuer ratings of the bank's mortgage unit mBank Hipoteczny and changed the outlook to negative from "under review".
Fitch : * FITCH RATINGS: CREDIT SUISSE AT1 WIPEOUT NOT A TEMPLATE FOR EU, UK INSURERS' RT1. * FITCH - SWISS AUTHORITIES' DECISION TO FULLY WRITE DOWN CS' AT1 NOTES DOESN'T IMPLY EU, UK AUTHORITIES WILL TREAT INSURERS' RT1 INSTRUMENTS SAME WAY.
AM Best has removed from under review with negative implications and downgraded the Long-Term Issuer Credit Rating to ?bb? from ?bb+? and affirmed the Financial Strength Rating of B of Universal Insurance Company Limited.
Financial markets have been thrown a fresh curve ball by the decision to write down 16 billion Swiss francs of Credit Suisse bonds, known as Additional Tier 1 or AT1 debt, to zero as part of a forced rescue merger with UBS.
Financial markets have been thrown a fresh curve ball by the decision to write down 16 billion Swiss francs of Credit Suisse bonds, known as Additional Tier 1 or AT1 debt, to zero as part of a forced rescue merger with UBS.
In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.
Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.
Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.
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