News Results

  1. AM Best Downgrades Credit Ratings of American Sentinel Insurance Company; Maintains Under Review With Developing Implications Status
    Business Wire | 05:08 PM EDT

    AM Best has downgraded the Financial Strength Rating to B+ from B++ and the Long-Term Issuer Credit Rating to ?bbb-? from ?bbb? of American Sentinel Insurance Company. The ratings reflect American Sentinel?s balance sheet strength, which AM Best categorizes as adequate, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.

  2. BRIEF-S&P Says Outlook On Azerbaijan Revised To Negative From Stable, Ratings Affirmed At 'BB+'
    Reuters | 04:32 PM EDT

    S&P: * S&P SAYS OUTLOOK ON AZERBAIJAN REVISED TO NEGATIVE FROM STABLE, RATINGS AFFIRMED AT 'BB+' * S&P SAYS AZERBAIJAN OUTLOOK REVISED TO NEGATIVE ON RISING RISKS FROM MILITARY CONFLICT OVER NAGORNO-KARABAKH; RATINGS AFFIRMED. * S&P SAYS NEGATIVE OUTLOOK ON AZERBAIJAN REFLECTS RISING RISKS TO FISCAL PERFORMANCE, EXTERNAL BALANCE SHEET, AND MACRO-FINANCIAL STABILITY.

  3. Highlands Holdings Bond Issuer, Ltd. Announces Pricing of $500 Million Senior Secured PIK Toggle Notes Due 2025
    Business Wire | 04:25 PM EDT

    Highlands Holdings Bond Issuer, Ltd., a Bermuda exempted company and Highlands Holdings Bond Co-Issuer, Inc., a Delaware corporation and direct, wholly owned subsidiary of the Bermuda Issuer announced today that they priced $500 million aggregate principal amount of 7.625% / 8.375% Senior Secured PIK Toggle Notes due 2025 at an issue price of 100.000% in an offering.

  4. BRIEF-Fitch Affirms Iceland At 'A' Outlook Negative
    Reuters | 04:07 PM EDT

    * FITCH AFFIRMS ICELAND AT 'A'; OUTLOOK NEGATIVE. * FITCH SAYS CORONAVIRUS PANDEMIC HAS RESULTED IN SHARP DETERIORATION IN ICELAND'S NEAR-TERM GROWTH AND PUBLIC FINANCE OUTLOOK Source text for Eikon:

  5. Guzman & Company Selected by Federal Reserve Bank of New York to Assist With Secondary Market Corporate Credit Facility (SMCCF)
    Business Wire | 12:16 PM EDT

    Guzman & Company, a Coral Gables-based investment bank and brokerage firm, is honored to participate in the Secondary Market Corporate Credit Facility, a program enacted by the Federal Reserve Bank of New York to provide liquidity for the corporate bond market.

  6. Federal Farm Credit Banks Funding Corporation Announces the Preliminary Results of the Exchange Offer for Any and All Farm Credit System Consolidated Systemwide Libor Floating Rate Bonds Maturing After January 31, 2022, for Newly Issued Systemwide Bonds
    PR Newswire | 12:00 PM EDT

    JERSEY CITY, N.J., Oct. 23, 2020 The Federal Farm Credit Banks Funding Corporation announced today the preliminary results of its previously announced offer to exchange any and all of its existing LIBOR Bonds listed in the table below for corresponding new LIBOR Bonds listed in the table below. ?. The Exchange Offer expired on October 22, 2020 at 5:00 p.m., New York City time.

  7. Morocco's credit rating cut to junk by Fitch
    Reuters | 11:44 AM EDT

    Fitch cut Morocco's credit rating to 'junk' on Friday, blaming the coronavirus for savaging the north African country's finances. The one-notch cut to BB+ from BBB- is a painful one for the government as it means that two of three main agencies now grade it in a higher-risk category that can lead to higher borrowing costs.

  8. BRIEF-S&P Says North Carolina's Series 2020B Limited Obligation (Build NC) Bonds Rated 'AA+' With A Stable Outlook
    Reuters | 11:00 AM EDT

    S&P: * S&P SAYS NORTH CAROLINA'S SERIES 2020B LIMITED OBLIGATION BONDS RATED 'AA+' WITH A STABLE OUTLOOK Source text:

  9. MetLife CEO Recruited Snoopy to Sell Insurance
    | 10:14 AM EDT

    As chief executive of Metropolitan Life Insurance Co. in the 1980 s, John Creedon launched MetLife (MET) blimps and adopted Snoopy and other Peanuts characters to enliven the company's ads. He also embraced the trend of creating financial supermarkets and denounced the wave of leveraged buyouts that were devaluing corporate bonds held by MetLife (MET) and other insurers. Creedon oversaw a move into sales of mutual funds alongside insurance and the 1985 acquisition of the Century 21...

  10. Petronas Gas: Unit's 20-Year MYR1.7 Billion Sukuk Oversubscribed by 3x
    | 10/22/20 11:25 PM EDT

    Petronas Gas Bhd (PNAGF). 65%- owned subsidiary Pengerang LNG Sdn. Bhd. issuance of a 1.7 billion ringgit 20- year sukuk, or Islamic bond, is oversubscribed by three times. The oversubscription reflects the market's confidence in the strength of the company's credit, which has been assigned a rating of AAA by the Malaysian Rating Corp. Bhd., the gas infrastructure and centralized utilities company said Friday.

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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