* FITCH REVISES ANDORRA'S OUTLOOK TO POSITIVE; AFFIRMS AT 'BBB+' * FITCH SAYS EXPECTS RECOVERY IN GDP GROWTH AND DECLINE IN FISCAL SUPPORT IN ANDORRA TO UNDERPIN A RETURN TO GENERAL GOVERNMENT FISCAL SURPLUS IN 2022. * FITCH ON ANDORRA SAYS IN 2022, EXPECT DIRECT TAX REVENUES TO BENEFIT FROM HIGH EMPLOYMENT RATE, WHICH WAS AT ITS HIGHEST LEVEL IN 10 YEARS IN 3Q21.
JPMorgan Chase & Co (JPM) posted fourth-quarter profit ahead of market expectations on Friday, but its shares fell as much as 6% as analysts expressed disappointment over its forecasts for future profitability.
* FITCH RATINGS: OMICRON WEAKENS GLOBAL LODGING REVENUE RECOVERY PROSPECTS. * FITCH - EXPECTS URBAN DESTINATIONS, IN UPSCALE SEGMENT TARGETING BUSINESS TRAVELLERS, TO REMAIN UNDER PRESSURE AS 'RETURN TO OFFICE' POLICIES HAVE BEEN DELAYED.
Charter Communications Inc (CHTR): * CHARTER PRICES $1.2 BILLION SENIOR UNSECURED NOTES. * CHARTER-SUBSIDIARIES,CCO HOLDINGS, LLC,CCO HOLDINGS CAPITAL CORP HAVE PRICED $1.2 BILLION IN AGGREGATE PRINCIPAL AMOUNT OF SENIOR UNSECURED NOTES DUE 2032 Source text for Eikon: Further company coverage:
Charter Communications Inc (CHTR): * CHARTER OFFERS SENIOR UNSECURED NOTES. * CHARTER COMMUNICATIONS (CHTR) - UNIT INTEND TO USE NET PROCEEDS INCLUDING TO FUND POTENTIAL BUYBACKS OF CLASS A COMMON STOCK OF CHARTER Source text for Eikon: Further company coverage:
China Evergrande Group's (EGRNF) main unit Hengda Real Estate Group has reached an agreement with bondholders to delay payments for a 4.5 billion yuan onshore bond, Hengda said in a filing on Thursday. The company had been seeking a six-month delay for redemption and coupon payments on its 6.98% January 2023 bond at a meeting with bondholders held Jan. 7-13.
Sonoco Products Co (SON): * SONOCO PRICES INAUGURAL GREEN BOND OFFERING. * SONOCO - GREEN BONDS TOTAL $1.2 BILLION AGGREGATE PRINCIPAL AMOUNT Source text for Eikon: Further company coverage:
SLR Investment Corp (SLRC): * SLR Investment Corp (SLRC). ISSUES $135 MILLION OF FIVE-YEAR 3.33% SENIOR UNSECURED NOTES; REDUCES LONG-TERM AVERAGE BORROWING RATE Source text for Eikon: Further company coverage:
* MOODY'S SAYS INTEREST RATES TO RISE FASTER AS OMICRON'S IMPACT ON ECONOMY LIKELY TO BE TEMPORARY. * MOODY'S SAYS NOW EXPECT THREE U.S. INTEREST RATE HIKES THIS YEAR, COMPARED WITH NOVEMBER EXPECTATION OF NONE UNTIL 2023. * MOODY'S SAYS OMICRON'S IMPACT ON ECONOMIC ACTIVITY WILL LIKELY BE TEMPORARY AND MUTED.
Realty Income Corp (O): * REALTY INCOME PRICES ?500 MILLION OF DUAL-TRANCHE STERLING-DENOMINATED SENIOR UNSECURED NOTES. * REALTY INCOME (O) - ANNOUNCED PRICING OF PUBLIC OFFERING OF ?250 MILLION OF 1.875% SENIOR UNSECURED NOTES DUE JAN 14, 2027.
Starwood Property Trust Inc (STWD): * STARWOOD PROPERTY TRUST PRICES PRIVATE OFFERING OF SUSTAINABILITY BONDS. * Starwood Property Trust Inc (STWD)- PRICED ITS PRIVATE OFFERING OF $500 MILLION AGGREGATE PRINCIPAL AMOUNT OF ITS 4.375% UNSECURED SENIOR NOTES DUE 2027 Source text for Eikon: Further company coverage:
Federal Home Loan Mortgage Corp : * FREDDIE MAC TO ISSUE WHEN-ISSUED BONDS FOR BENCHMARK K-DEAL BOND CLASS Source text for Eikon: Further company coverage:
CME Group Inc (CME) said on Monday it will launch futures on 20-year U.S. Treasury bonds on March 7, pending regulatory review, to help investors better manage their U.S. Treasury curve exposure.
CME Group Inc (CME) said on Monday it will launch futures on 20-year U.S. Treasury bonds on March 7, pending regulatory review, to help investors better manage their U.S. Treasury curve exposure.
Abu Dhabi solar energy firm Sweihan PV Power Company aims to raise more than $700 million through the sale of amortising green bonds, an investor presentation reviewed by Reuters on Monday showed. Sweihan owns the Noor Abu Dhabi solar plant, the largest such facility in the United Arab Emirates, which began commercial operations in 2019.
French sugar and ethanol group Tereos said on Monday its subsidiary Tereos Finance Groupe I intended to issue 300 million euros in senior unsecured notes, subject to market conditions, to repay some of its existing debt. The bond would be due in 2027, it said in a financial release posted on its website.
Kazakhstan's strong finances mean its investment grade rating is unlikely to be impacted by this week's violent protests and subsequent government resignation. "Our base-case expectation is that President Tokayev, with Russian assistance, will eventually restore order," S&P said in a note on the situation in tightly-controlled former Soviet state.
A U.S. judge on Wednesday narrowed but refused to dismiss a Securities and Exchange Commission lawsuit accusing Morningstar Inc (MORN) of letting analysts adjust credit rating models for about $30 billion of mortgage securities, resulting in lower payouts to investors.
A U.S. judge on Wednesday narrowed but refused to dismiss a Securities and Exchange Commission lawsuit accusing Morningstar Credit Ratings LLC of violating federal securities laws in its ratings of commercial mortgage-backed securities.
Realogy Holdings Corp (RLGY): * REALOGY ANNOUNCES PROPOSED $550 MILLION OFFERING OF SENIOR NOTES. * Realogy Holdings Corp (RLGY) - UNIT, TOGETHER WITH CO-ISSUER, IS PROPOSING TO ISSUE $550 MILLION SENIOR NOTES DUE 2030 IN PRIVATE OFFERING. * REALOGY HOLDINGS (RLGY) - INTENDS TO USE NET PROCEEDS FROM FFERING, TOGETHER WITH CASH ON HAND, TO REDEEM IN FULL UTSTANDING 9.375% SENIOR NOTES DUE 2027.
Ant Group Co Ltd: * FITCH RATINGS: ANT GROUP'S RESTRUCTURING ADVANCES; IMPACT ON ALIBABA MANAGEABLE. * FITCH SAYS GOVERNMENT'S LARGER SHAREHOLDING WILL GIVE ANT GROUP GREATER INFLUENCE, OVERSIGHT ON CACF'S BUSINESS THROUGH APPOINTMENT OF BOARD MEMBERS.
Bloomberg News
Indian billioniare Mukesh Ambani-owned Reliance Jio Infocomm, the country's
top telecom operator, is planning its largest ever rupee bond sale for up to
$670.65 million of ...
Royal Caribbean Cruises Ltd: * ROYAL CARIBBEAN GROUP ANNOUNCES UPSIZING AND PRICING OF $1,000,000,000 SENIOR UNSECURED NOTES. * ROYAL CARIBBEAN GROUP (RCL) - NOTES WILL MATURE ON JULY 15, 2027. * ROYAL CARIBBEAN GROUP (RCL) - PRICED PRIVATE OFFERING OF $1 BILLION OF 5.375% SENIOR UNSECURED NOTES DUE 2027.
Royal Caribbean Cruises Ltd: * ROYAL CARIBBEAN GROUP ANNOUNCES PROPOSED OFFERING OF SENIOR UNSECURED NOTES. * ROYAL CARIBBEAN GROUP (RCL) - COMMENCED A PRIVATE OFFERING OF $700 MILLION OF SENIOR UNSECURED NOTES DUE 2027. * ROYAL CARIBBEAN GROUP (RCL) - INTENDS TO USE PROCEEDS FROM SALE OF NOTES TO REPAY PRINCIPAL PAYMENTS ON DEBT MATURING IN 2022 Source text for Eikon: Further company coverage:
Hong Kong's Airport Authority is aiming to raise up to $4 billion in a multi-tranche dollar bond offering, according to two sources with direct knowledge of the matter. The sources spoke on condition of anonymity as the information has not yet been made public. The authority has mandated 22 banks to work on the deal, a term sheet seen by Reuters on Monday showed.
The board of Jordan's Capital Bank approved a mandatory offer to acquire Societe Generale Bank Jordan, part of a drive to expand the bank's foothold regionally and domestically, its chairman said on Sunday. Bassem Al Salem told Reuters an extraordinary general meeting had on Thursday also agreed to issue $100 million in perpetual bonds - meaning they have no maturity - to help drive growth.
Pharnext: * PHARNEXT AND GLOBAL TECH OPPORTUNITIES 13 AGREE TO STOP CONVERTIBLE BOND PROGRAM FROM END OF MAY 2022. * TO AMEND TERMS OF EXISTING FINANCING PROGRAM ANNOUNCED IN JUNE 2021 IN ORDER TO REDUCE NUMBER OF OCEANE-BSA TRANCHES TO 5 OCEANE-BSA TRANCHES OVER 5-MONTH PERIOD FROM JANUARY TO MAY 2022. * REDUCING TOTAL NUMBER OF OCEANE-BSA TRANCHES FROM 35 TO 12.
FITCH: * FITCH RATINGS SAYS HIGH ENERGY PRICES SQUEEZE UK SUPPLIERS, NETWORKS INSULATED. * FITCH SAYS DO NOT EXPECT CREDIT PROFILES OF UK ELECTRICITY & GAS DISTRIBUTION NETWORKS BEING AFFECTED DUE TO SUPPLIER FAILURES, SOLR IMPLEMENTATION Source text for Eikon:
- Ratings agency Moody's (MCO) on Tuesday upgraded Apple Inc's (AAPL) long-term credit rating to 'AAA' with a stable outlook, citing the iPhone maker's "exceptional liquidity" and robust earnings. With this, Apple (AAPL) joins an elite club of companies including Microsoft and Johnson & Johnson that have been given Moody's (MCO) highest rating.
Ratings agency Moody's (MCO) on Tuesday upgraded Apple Inc's (AAPL) long-term credit rating to 'AAA' with a stable outlook, citing the iPhone maker's "exceptional liquidity" and robust earnings. With this, Apple (AAPL) joins an elite club of companies including Microsoft (MSFT) and Johnson & Johnson (JNJ) that have been given Moody's (MCO) highest rating.
China's Fujian Sunshine Group, a major shareholder in Chinese developer Yango Group, has failed to pay the interest payment on a $300 million bond maturing in May 2023, news outlet Cailianshe reported on Tuesday. Cailianshe reported that the last interest payment was due on Nov. 10 and the issuer did not pay it within the subsequent 30-day grace period.
China's property sector debt turmoil is set to keep a lid on Asian high-yield corporate bond deals in the first half of next year after a string of defaults by real estate firms left global investors licking their wounds, bankers said. Chinese property developers account for the biggest portion of high-yield, also known as junk bonds, deals in the region.
China's property sector debt turmoil is set to keep a lid on Asian high-yield corporate bond deals in the first half of next year after a string of defaults by real estate firms left global investors licking their wounds, bankers said. Chinese property developers account for the biggest portion of high-yield, also known as junk bonds, deals in the region.
Shimao Group Holdings was downgraded by rating agencies Moody's and Fitch on Friday, both by two notches, due to the Chinese developer's increased financing risks. The downgrades could trigger some creditors to demand immediate repayment, market watchers cautioned, further pressuring Shimao's liquidity.
* BOJ keeps unchanged ultra-low interest rate targets. * BOJ tapers buying of corporate bonds, commercial paper. * Extends funding support for small firms with condition tweaks. * Kuroda pledges to keep Japan's monetary policy ultra-loose. By Leika Kihara.
* BOJ set to keep unchanged ultra-low interest rate targets. * Announcement expected between 0230 GMT and 0500 GMT. * BOJ may taper buying of corporate bonds, commercial paper. * Kuroda media briefing set for 0630 GMT. By Leika Kihara.
* BoE votes 8-1 to raise UK interest rates to 0.25% from 0.1% * BoE is first major c.bank to raise rates since pandemic began. * UK inflation is forecast to peak at 6% in April 2022. * Omicron to hurt near-term growth, inflation impact unclear. * More persistent domestic inflation and job market pressures seen. By David Milliken, Andy Bruce and William Schomberg.
The Bank of England on Thursday became the world's first major central bank to raise interest rates since the coronavirus pandemic hammered the global economy, and warned inflation was likely to hit 6% in April - three times its target level.
Green Brick Partners Inc (GRBK): * GREEN BRICK PARTNERS, INC. LOCKS RATE ON $100 MILLION SENIOR UNSECURED NOTES OFFERING AND ANNOUNCES EXTENSION OF LINE OF CREDIT FACILITY Source text for Eikon: Further company coverage:
Iron Mountain Inc (IRM): * IRON MOUNTAIN INCORPORATED UPSIZES AND PRICES DEBT OFFERING. * Iron Mountain Inc (IRM) - PRICED AN UPSIZED OFFERING BY WAY OF A PRIVATE PLACEMENT OF $750.0 MILLION OF ITS 5.000% SENIOR NOTES DUE 2032 Source text for Eikon: Further company coverage:
Fitch: * FITCH SAYS SUPPLY CHAIN ISSUES TEMPER OUTLOOK FOR U.S. DIVERSIFIED INDUSTRIALS. * FITCH SAYS SEES SUPPLY CHAIN DISRUPTIONS TO CONTINUE TO CONSTRAIN REVENUE GROWTH, ADD TO INFLATIONARY PRESSURE FOR U.S. DIVERSIFIED INDUSTRIALS IN 2022. * FITCH SAYS FINANCIAL LEVERAGE ACROSS U.S. DIVERSIFIED INDUSTRIALS SECTOR EXPECTED TO DECLINE IN 2022 AS CONTINUED SOLID DEMAND SUPPORT PROFITABILITY.
* FITCH SAYS SECTOR OUTLOOK FOR AFRICAN BANKS IN 2022 IS NEUTRAL, WITH UNCERTAIN BUSINESS CONDITIONS AND COVID-19 RISK CONSTRAINING RECOVERY. * FITCH, ON AFRICAN BANKS, SAYS SEE SIGNIFICANT UNCERTAINTY WITH AFRICA BEING PARTICULARLY AT RISK FROM NEW COVID-19 VARIANTS Source text for Eikon:
Iron Mountain Inc (IRM): * IRON MOUNTAIN INCORPORATED ANNOUNCES DEBT OFFERING. * Iron Mountain Inc (IRM)- ANNOUNCED PROPOSED OFFERING BY WAY OF PRIVATE PLACEMENT OF $500 MILLION AGGREGATE PRINCIPAL AMOUNT OF ITS SENIOR NOTES DUE 2032.
Merck & Co Inc (MRK): * MERCK ISSUES $1 BILLION INAUGURAL SUSTAINABILITY BOND. * Merck & Co Inc (MRK) - ISSUANCE OF A $1 BILLION SUSTAINABILITY BOND, WHICH WAS PART OF AN $8 BILLION UNDERWRITTEN PUBLIC OFFERING OF NOTES. * Merck & Co Inc (MRK) - INTENDS TO USE NET PROCEEDS FROM THIS BOND OFFERING TO SUPPORT PROJECTS AND PARTNERSHIPS IN COMPANY'S PRIORITY ESG AREAS Source text for Eikon: Further company coverage:
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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