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.
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.
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.
* 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:
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.
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.
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.
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...
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.
AM Best has affirmed the Financial Strength Rating of A and the Long-Term Issuer Credit Ratings of ?a? of BF&M Life Insurance Company Limited, BF&M General Insurance Company Limited and Island Heritage Insurance Company, Ltd.. AM Best also has affirmed the Long-Term ICR of ?bbb? of the parent company, BF&M Limited.
AM Best has affirmed the Financial Strength Rating of A, the Long-Term Issuer Credit Rating of ?a+? and the Mexico National Scale Rating of ?aaa.MX? of Seguros Inbursa, S.A. Grupo Financiero Inbursa . The outlook of 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 Union Insurance Company P.J.S.C.. The outlook of these Credit Ratings is stable. The ratings reflect Union?s balance sheet strength, which AM Best categorises as strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
This press release contains forward-looking information that is based upon assumptions and is subject to risks and uncertainties as indicated in the cautionary note contained within this press release. Dream Industrial REIT announced today that it has been assigned an Issuer Rating of BBB with Stable Trend by DBRS Limited.
Exxon Mobil Corp (XOM) is "very close" to completing its workforce appraisals in the United States and Canada and expects to unveil job cuts, its chief executive told employees in an email on Wednesday. The second-largest U.S. oil company by market value lost nearly $1.7 billion in the first six months and analysts forecast a third-quarter $1.17 billion loss, according to IBES data from Refinitiv.
Exxon Mobil Corp (XOM) is "very close" to completing its workforce appraisals in the United States and Canada and expects to unveil job cuts, its chief executive told employees in an email on Wednesday. The second-largest U.S. oil company by market value lost nearly $1.7 billion in the first six months and is expected to post another quarterly loss when results are released on Oct. 30.
Providence Service Corp (PRSC): * PROVIDENCE ANNOUNCES PRICING OF ITS $500 MILLION PRIVATE OFFERING OF SENIOR NOTES. * PROVIDENCE SERVICE (PRSC) - PRICING OF PREVIOUSLY ANNOUNCED PRIVATE PLACEMENT OFFERING & AGREED TO ISSUE,SELL $500 MILLION IN OF SENIOR NOTES DUE ON NOV 15, 2025 Source text for Eikon: Further company coverage:
S&P: * S&P CHANGES ZAMBIA'S LONG TERM FOREIGN CURRENCY RATING TO 'SD' * S&P SAYS ZAMBIA FOREIGN CURRENCY RATINGS LOWERED TO SD/SD ON SUSPENSION OF DEBT SERVICE PAYMENTS TO EXTERNAL COMMERCIAL CREDITORS. * S&P SAYS FORECAST THAT ZAMBIA WILL REMAIN IN PAYMENT DEFAULT FOR AT LEAST THE SIX MONTHS OF THE STANDSTILL PERIOD.
MEXICO CITY, Oct. 21, 2020 ?FIBRA Prologis, a leading owner and operator of Class-A industrial real estate in Mexico, today announced Fitch M?xico S.A. de C.V. and HR Ratings de M?xico separately initiated a credit rating on FIBRA Prologis. Fitch assigned: HR Ratings assigned: "We are pleased to be recognized for our hard work by Fitch and HR Ratings.
AM Best has removed from under review with negative implications and affirmed the Financial Strength Rating of B and the Long-Term Issuer Credit Rating of ?bb? of Weston Insurance Company. The ratings reflect Weston?s balance sheet strength, which AM Best categorizes as adequate, as well as its marginal operating performance, limited business profile and appropriate enterprise risk management.
Clarus Corporation (CLAR) announced today it has commenced a public offering of $85 million aggregate principal amount of convertible senior notes due 2026. The Notes will be senior unsecured obligations of the Company and will accrue interest payable semiannually in arrears on May 1 and November 1 of each year, beginning on May 1, 2021.
General Finance Corporation (GFN), a leading specialty rental services company offering portable storage, modular space and liquid containment solutions, announced that it has priced an underwritten public offering of $60.0 million in principal amount of 7.875% Senior Notes due 2025 today.
AM Best has affirmed the Financial Strength Rating of A, the Long-Term Issuer Credit Rating of ?a+? and the Mexico National Scale Rating of ?aaa.MX? of MAPFRE M?xico, S.A. . The outlook of these Credit Ratings is stable.
AM Best has affirmed the Financial Strength Rating of A, the Long-Term Issuer Credit Rating of ?a+? and the Mexico National Scale Rating of ?aaa.MX? of MAPFRE Fianzas, S.A. . The outlook of these Credit Ratings is stable.
SOURCE J.B. Poindexter & Co Inc. * J.B. POINDEXTER & CO., INC. ANNOUNCES PROPOSED PRIVATE $150 MILLION SENIOR UNSECURED NOTES OFFERING Source text for Eikon:
MarketAxess Holdings Inc. (MKTX) today announced that Goldman Sachs & Co. LLC has committed to become a dedicated market maker and is actively contributing streaming prices for US investment grade corporate bonds to the MarketAxess Live Markets? order book for institutional credit markets.
HOUSTON, Oct. 21, 2020 ?J.B. Poindexter & Co., Inc.?, a privately-held company, today announced that it intends to offer $150 million aggregate principal amount of senior unsecured notes due 2026 in a private offering.
A widely-used benchmark for U.S. short-term interest rates has dropped to record lows, joining its European peers, in the latest sign that massive central bank stimulus has suppressed borrowing costs. The three-month U.S. dollar London Interbank Offered Rate hit a record low at around 0.21% on Tuesday and held near those levels in London trade on Wednesday.
China's credit-rating firms are doling out more triple-A bond ratings, a trend that has continued this year in spite of the coronavirus pandemic and greater borrowing by companies in the world's second-largest economy. As of mid-October, more than 18.3 trillion yuan, equivalent to $2.7 trillion, in outstanding yuan-denominated bonds issued by companies and financial institutions in mainland China had the highest possible rating from the country's credit raters,...
As Americans go to the polls, some of the more influential observers of the election process will be the agencies that determine the country's credit rating. The country's nearly top-notch, coveted rating is partly a reflection of the dollar's status as the world's reserve currency and the fact that the roughly $20 trillion U.S. Treasury market is the largest and most liquid in the world.
As Americans go to the polls, some of the more influential observers of the election process will be the agencies that determine the country's credit rating. The country's nearly top-notch, coveted rating is partly a reflection of the dollar's status as the world's reserve currency and the fact that the roughly $20 trillion U.S. Treasury market is the largest and most liquid in the world.
Fitch: * FITCH RATINGS SAYS NEW ZEALAND ELECTION GIVES LABOUR STRONGER CONTROL OVER POLICY. * FITCH SAYS BELIEVE NEW ZEALAND'S RECORD OF PRUDENT FISCAL MANAGEMENT WILL MITIGATE RISKS ASSOCIATED WITH HIGHER PUBLIC DEBT LEVELS IN NEXT FEW YEARS. * FITCH - NEW ZEALAND ELECTION OUTCOME REINFORCES ITS EXPECTATION THAT FISCAL POLICY WILL EVOLVE IN LINE WITH PREFU.
Kroll Bond Rating Agency announces the assignment of preliminary ratings to 11 classes of GS Mortgage Securities Corporation Trust 2020-TWN3, a CMBS single-borrower securitization. The collateral for the transaction consists of a $265.0 million non-recourse, first lien, floating-rate mortgage loan that is secured by the borrowers? fee simple interests in 58 hotels totaling 7,140 keys.
Ingevity Corp (NGVT): * INGEVITY PRICES $550 MILLION SENIOR NOTES OFFERING. * Ingevity Corp (NGVT) - PRICING OF 8-YEAR $550 MILLION SENIOR UNSECURED NOTES. * Ingevity Corp (NGVT) - NOTES WILL MATURE ON NOVEMBER 1, 2028 AND WILL BEAR AN INTEREST RATE OF 3.875% PER ANNUM Source text for Eikon: Further company coverage:
Ingevity Corporation (NGVT) announced today the pricing of its previously announced offering of 8-year senior unsecured notes in an aggregate principal amount of $550 million. If the offering is consummated, the company intends to use the proceeds of the offering for the redemption, refinancing or repayment of existing indebtedness.
The Federal Reserve's actions to unfreeze credit markets had a significant effect on the corporate bond market, despite a small footprint, and the central bank would take a flexible approach to providing more support if needed, a senior New York Fed official said on Tuesday.
The Federal Reserve's actions to unfreeze credit markets had a significant effect on the corporate bond market, despite a small footprint, and the central bank would take a flexible approach to providing more support if needed, a senior Fed official said on Tuesday.
* MOODY'S SAYS U.S. RESTAURANT INDUSTRY OUTLOOK MOVED TO STABLE AS CONSUMERS GRADUALLY RETURN TO DINING OUT, RESTRICTIONS SLOWLY EASE. * MOODY'S SAYS STABLE OUTLOOK FOR U.S. RESTAURANT INDUSTRY REFLECTS SLOWLY IMPROVING BUSINESS CONDITIONS OVER NEXT 12 TO 18 MONTHS.
Fitch: * FITCH SAYS PANDEMIC LIKELY TO PUT BRAKES ON SOME HIGHER EDUCATION PROJECTS AS U.S. COLLEGE CAMPUSES DEAL WITH REVENUE STRESS, ENROLLMENT DECLINES. * FITCH SAYS OVER MEDIUM TERM, EXPECTS U.S. HIGHER EDUCATION PROJECTS TO INCREASE Source text for Eikon:
General Finance Corp (GFN): * GENERAL FINANCE CORPORATION ANNOUNCES PUBLIC OFFERING OF SENIOR NOTES. * General Finance Corp (GFN) - COMMENCED AN UNDERWRITTEN PUBLIC OFFERING OF SENIOR NOTES DUE 2025 Source text for Eikon: Further company coverage:
General Finance Corporation (GFN), a leading specialty rental services company offering portable storage, modular space and liquid containment solutions, announced that it commenced an underwritten public offering of Senior Notes due 2025 today.
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 are proposing to issue and sell $500 million aggregate principal amount of Senior Secured PIK Toggle Notes due 2025 in an offering that will be exempt from the registration requirements of the Securities Ac...
Ingevity Corp (NGVT): * INGEVITY ANNOUNCES PROPOSED PRIVATE OFFERING OF SENIOR UNSECURED NOTES. * Ingevity Corp (NGVT) - PRIVATE OFFERING OF $550.0 MILLION IN AGGREGATE PRINCIPAL AMOUNT OF SENIOR UNSECURED NOTES. * Ingevity Corp (NGVT) - INTENDS TO USE PROCEEDS OF OFFERING FOR REDEMPTION, REFINANCING OR REPAYMENT OF EXISTING INDEBTEDNESS Source text for Eikon: Further company coverage:
Ingevity Corporation (NGVT) announced today that it is commencing a private offering of $550.0 million in aggregate principal amount of senior unsecured notes in a transaction exempt from the registration requirements of the Securities Act of 1933, as amended, subject to market and other conditions.
Getlink, the company which runs the Channel Tunnel linking Britain to mainland Europe, said on Tuesday that it was planning to issue some new "green bonds", in a further sign of that bond market's growing importance.
Ross Stores, Inc. (ROST) today announced the pricing of a public offering of $500 million aggregate principal amount of senior notes due 2026 and $500 million aggregate principal amount of senior notes due 2031.
GREENWICH, Conn. The Company intends to allocate an amount equal to the net proceeds from the offering to finance or refinance, in whole or in part, recently completed or future eligible green and/or social projects.
Federal Home Loan Mortgage Corp : * FREDDIE MAC PRICES $372 MILLION SUSTAINABILITY BONDS OFFERING OF GUARANTEED TAX-EXEMPT ML CERTIFICATES Source text for Eikon: Further company coverage:
Freddie Mac (FMCC) recently priced a new offering of credit risk transfer securities backed by Tax-Exempt Loans made by state or local housing agencies and secured by affordable rental housing. The company expects to guarantee approximately $372 million in fixed-rate ML Certificates that are supported by pools of fixed-rate TELs.
Gray Television, Inc. (GTN) announced today that it has completed its previously announced offering of $800 million in aggregate principal amount of 4.750% senior notes due 2030.
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.
Publication Date