S&P: * S&P SAYS IRELAND OUTLOOK REVISED TO POSITIVE ON FISCAL AND MACROECONOMIC RESILIENCE; 'AA-/A-1+' RATINGS AFFIRMED. * S&P SAYS IRISH ECONOMY IS SET TO DECELERATE NEXT YEAR, BUT SHOULD CONTINUE TO OUTPERFORM PEERS WHILE AVOIDING A TECHNICAL RECESSION. * S&P SAYS SOLID TAX REVENUE GROWTH WILL HELP IRELAND POST BUDGETARY SURPLUSES OVER 2022-2025, DESPITE NEAR-TERM SPENDING INCREASES.
Fitch Ratings on Friday downgraded Mexican leasing firm Unifin Financiera's long and short-term local and foreign currency issuer default ratings to 'D' from 'RD' due to the firm's announced restructuring process.
Fitch Ratings on Friday downgraded Mexican leasing firm Unifin Financiera's long and short-term local and foreign currency issuer default ratings to 'D' from 'RD' due to the firm's announced restructuring process. Fitch also downgraded Unifin's long and short-term national scale ratings to 'D' from 'RD', saying "the downgrades reflect that a bankruptcy proceeding is ongoing."
AM Best has upgraded the Financial Strength Rating to A++ from A+ and the Long-Term Issuer Credit Rating to ?aa+? from ?aa-? of Chubb Seguros Panama S.A.. The outlook of these Credit Ratings is stable.
AM Best has affirmed the Long-Term Issuer Credit Rating of ?bbb-? of Definity Financial Corporation. The ratings reflect Definity Insurance?s balance sheet strength, which AM Best assesses as very strong, as well as its marginal operating performance, neutral business profile and appropriate enterprise risk management.
AM Best has affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Ratings of ?aa? of Minnesota Life Insurance Company and its subsidiary, Securian Life Insurance Company, together referred to as Securian Financial Insurance Group.
AM Best has affirmed the Financial Strength Rating of B++ and the Long-Term Issuer Credit Rating of ?bbb+? of First Net Insurance Company. The ratings reflect First Net?s balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
AM Best has removed from under review with developing implications and affirmed the Financial Strength Rating of B++ and the Long-Term Issuer Credit Rating of ?bbb+? of First Insurance Company. The ratings reflect SFIC?s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
AM Best has removed from under review with developing implications and affirmed the Financial Strength Rating of B++ and the Long-Term Issuer Credit Rating of ?bbb+? of Solidarity Bahrain B.S.C.. The outlook assigned to these Credit Ratings is stable.
BOGOTA, Colombia, Nov. 18, 2022 /PRNewswire/ --?Ecopetrol S.A. (EC) reports that the rating agency Fitch Ratings maintained the company's credit rating at "BB+", with a stable outlook, and the Company's individual credit rating at "bbb". The rating agency highlighted Ecopetrol's (EC) liquidity profile, which is supported by cash generation, access to capital markets and an adequate debt structure.
Moody's Investors Service said on Friday it changed the outlook on French carmaker Renault's ratings to stable from negative to reflect prospects of improved profitability from its strategic plan.
AM Best has affirmed the Financial Strength Rating of B+ and the Long-Term Issuer Credit Rating of ?bbb-? of Orion Reinsurance Ltd.. The outlook of these Credit Ratings is stable. The ratings reflect Orion Re?s balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
AM Best has affirmed the Financial Strength Rating of A++ and the Long-Term Issuer Credit Ratings of ?aa+? of the life/health subsidiaries of Delphi Financial Group, Inc.: Reliance Standard Life Insurance Company and First Reliance Standard Life Insurance Company. Concurrently, AM Best has affirmed the Long Term ICR of ?a+? and the Long-Term Issue Credit Ratings of DFG.
AM Best has affirmed the Financial Strength Rating of B and the Long-Term Issuer Credit Rating of ?bb+? of Compagnie Alg?rienne des Assurances. The ratings reflect CAAT?s balance sheet strength, which AM Best assesses as strong, as well as its strong operating performance, limited business profile and marginal enterprise risk management.
AM Best has assigned a Preliminary Credit Assessment to Gramercy Indemnity Company with a Financial Strength Assessment of A- pca and a Long-Term Issuer Credit Assessment of ?a-? pca. The PCA reflects Gramercy?s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
* Fed's Bullard says rate may need to go as high as 7% * U.S. crude futures break below 5-day moving average. * Struggling Chinese demand weighs. * NATO and Poland findings on missile ease fears of wider war. By Arathy Somasekhar.
Wolfspeed, Inc. (WOLF) today announced the pricing of $1,525.0 million aggregate principal amount of its 1.875% Convertible Senior Notes due 2029 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.
Athene Holding Ltd: * ATHENE PRICES $400 MILLION INVESTMENT GRADE NOTES OFFERING. * AGREED TO SELL $400 MILLION OF 6.650% SENIOR UNSECURED NOTES DUE 2033 Source text for Eikon: Further company coverage:
Athene Holding Ltd. today announced it has agreed to sell $400 million of 6.650% senior unsecured notes due 2033. Athene intends to use the net proceeds from the offering for general corporate purposes. Morgan Stanley, BofA Securities, Goldman Sachs & Co. LLC and Wells Fargo Securities are acting as joint book-running managers for the offering.
AM Best has affirmed the Financial Strength Rating of B++ and the Long-Term Issuer Credit Rating of ?bbb? of Petrolimex Insurance Corporation. The ratings reflect PJICO?s balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.
Alvotech SA (ALVO): * ALVOTECH SECURES FINANCING FACILITIES OF APPROXIMATELY $136 MILLION. * Alvotech SA (ALVO) - ALVOTECH SECURES $50 MILLION IN FINANCING IN FORM OF AN UNSECURED SUBORDINATED LOAN FACILITY FROM ALVOGEN. * Alvotech SA (ALVO) - EXISTING SENIOR BONDS UPSIZED BY $70 MILLION WITH ADDITIONAL INVESTMENT FROM A CONSORTIUM OF INSTITUTIONAL INVESTORS Source text for Eikon: Further company coverage:
UNION, N.J., Nov. 16, 2022 Bed Bath & Beyond Inc. (BBBY) today announced that it has extended its previously announced offers to exchange any and all of its outstanding Senior Notes. Sue Gove, Bed Bath & Beyond's President and CEO said, "We look forward to building additional momentum with our bond exchange and providing an opportunity for our interested holders to participate.
indie Semiconductor, Inc. (INDI), an Autotech solutions innovator, today announced that it plans to offer, subject to market and other conditions, $125 million aggregate principal amount of its Convertible Senior Notes due 2027 through a private offering to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended. indie expe...
Wolfspeed, Inc. (WOLF) today announced that it intends to offer, subject to market conditions and other factors, $1,300 million aggregate principal amount of its Convertible Senior Notes due 2029 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.
Air France-KLM on Wednesday raised just over 300 million euros by issuing subordinated bonds convertible into stock, seeking to strengthen its capital and pay back state aid but sending its shares plummeting. The shares plunged 13% shortly before the market close due to investor concerns about potential dilution for current shareholders.
DALLAS, Nov. 15, 2022 Texas Instruments Incorporated (TXN) today announced the pricing of two series of senior unsecured notes for an aggregate principal amount of $800 million. The notes consist of the following: TI expects to use the net proceeds of this offering for general corporate purposes.
Fomento Econ?mico Mexicano, S.A.B. de C.V. announced the placement of Mexican Peso-denominated sustainability linked bonds in the Mexican market for a total of Ps. The transaction was completed through a dual-tranche format with the tickers FEMSA 22-2L and FEMSA 22L.
Ratings agency Fitch on Tuesday downgraded Telecom Italia's credit rating to 'BB-' from 'BB', citing absence of sufficient debt reduction in 2022. Fitch said its outlook for Italy's biggest phone group was "negative", warning that higher inflation and lower consumer purchasing power will affect the company's earnings before interest, taxes, depreciation, and amortization and its revenue.
For refinancing 2024 Maturities MIAMI, Nov. 15, 2022 Carnival Corporation (CCL) & plc today announced that Carnival Corporation (CCL) has commenced a private offering of $1 billion aggregate principal amount of convertible senior notes due 2027 to be used as part of the Company's 2024 refinancing plan.
Thermo Fisher Scientific Inc. (TMO) announced today that on November 14, 2022 it priced an offering of ?1.25 billion aggregate principal amount of the following euro-denominated notes: The Offering is expected to close on or about November 21, 2022, subject to customary closing conditions.
Thermo Fisher Scientific Inc. (TMO) announced today that on November 14, 2022 it priced an offering of $1.2 billion aggregate principal amount of the following notes: The Offering is expected to close on or about November 21, 2022, subject to customary closing conditions.
Regulatory News: NAVYA, an autonomous mobility systems leader, today announces the issue of the 3rd tranche of convertible bonds into shares with warrants for an amount of ?2.0 million.
LUXEMBOURG CITY, Lexembourg, Nov. 15, 2022 Canaima Fund Lux?, a securitization fund governed by the Luxembourg Law of 22 March 2004 on securitization undertakings, registered under number O27, and more precisely for and on behalf of the compartment named? Canaima I?, with identification number ISIN ?XS2540585481? represented and managed by CANAIMA CAPITAL LUX SARL?, a company duly incorporated ...
IPC Systems, Inc., a leading provider of secure, compliant communications and multi-cloud connectivity solutions for global financial markets and BondWave LLC, an affiliate of First Trust Portfolios L.P. and a leading financial technology firm focused on fixed income solutions, today announced the integration of the flagship Unigy and IQ/Max? Touch solutions with BondWave Calculator, an innovat...
The company becomes the first gas-only utility in the U.S. to issue public green bonds LOS ANGELES, Nov. 15, 2022 /PRNewswire/ -- Southern California Gas Co. has successfully issued $600 million of 30-year fixed-rate "Green First Mortgage Bonds," to directly support the company's sustainability investments.
GOTHENBURG, Sweden, Nov. 15, 2022 ?The Board of Directors of Castellum observes that the bond market is still closed with no signs of recovery in the near future. "We are experiencing turbulent times with major uncertainties on the financial market also going forward.
CALGARY, AB, Nov. 14, 2022 ?TransAlta Corporation (TAC) is pleased to announce that it priced a public offering of US$400 million aggregate principal amount of its 7.750% senior notes due November 15, 2029, at an issue price equal to 100% of the principal amount of the notes, in an underwritten U.S. public offering.
S&P Global Ratings agreed to pay a $2.5 million penalty to settle U.S. Securities and Exchange Commission charges that it violated rules to prevent conflicts of interest, the regulator said in a statement on Monday.
Enviva Inc. (EVA) today announced that the Mississippi Business Finance Corporation, intends to issue its Exempt Facilities Revenue Bonds, Series 2022 in the aggregate principal amount of $100,000,000.
UNION, N.J., Nov. 14, 2022 Bed Bath & Beyond Inc. (BBBY) today announced that it has entered into privately negotiated exchange agreements with several existing institutional holders of its 3.749% Senior Unsecured Notes due 2024, 4.915% Senior Notes due 2034 and 5.165% Senior Notes due 2044.
TransAlta Corp (TAC): * TRANSALTA ANNOUNCES PUBLIC OFFERING OF U.S. SENIOR GREEN BONDS AND RELEASES INAUGURAL GREEN BOND FRAMEWORK. * TransAlta Corp (TAC) - INTENDS TO USE NET PROCEEDS FROM SALE OF NOTES TO REPAY C$100 MILLION DRAWN ON ITS CREDIT FACILITY.
Morgan Stanley expects the Bank of England to cut interest rates by 150 basis points in 2024 after stopping its tightening cycle in March of next year. "The BoE stops hiking as Bank Rate hits 4.0% in March 2023.
AM Best has assigned a Financial Strength Rating of B++ and a Long-Term Issuer Credit Rating of ?bbb? to Global Protection Reinsurance Ltd.. The outlook assigned to these Credit Ratings is stable. The ratings reflect GPR?s balance sheet strength, which AM Best assesses as strongest, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
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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