Machine Learning utilizes multiple learning algorithms to obtain better predictive powers. In our research, we utilize machine learning to combine the results from the Neural Network with Stochastic Oscillator and Lasso Regression. Machine Learning based stock forecast (n+7) for CLSN CALISEN PLC as below: CLSN CALISEN PLC Stock Forecast (Buy or Sell) as of 04 Dec 2021 for (n+7) How Does Forecast Model Work? x axis:Likelihood % y axis:Potential Impact % z axis:Color (yellow to green) Technical Analysis % LON:CLSN Stock Forecast Rationales & Estimation Model Time series to forecast n: 04 Dec 2021 for (n+7) Our liquidity uses include dividends and share repurchases that we expect under a stress scenario. Unlike other potential uses of liquidity, such as debt maturities or maintenance capital spending, we view dividends and share repurchases as more discretionary, although more so for the latter. For this reason, when evaluating a company's liquidity position, we may

BOSTON (AC Invest Credit Rating Terminal) Sat Dec 04 2021 10:25:02 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Credit Rating Rationales & Model While the existence of a commercial paper (CP) program can provide companies with alternative sources of short-term funding, such a program would not be considered a committed source of liquidity. Additionally, we do not require the presence of a committed facility to back up the full size of the CP program. For liquidity to be at least adequate, an issuer would need sources of liquidity (for example, committed facility and/or cash balances) to cover at least 100% of expected intra-year debt maturities, including CP, over the next 12 months. Rating Model for Gulf Power Company Series 2011A 5.75% Senior Notes due June 1, 2051: We estimate the credit risk parameters by Price Oscillator (PPO) and Independent T-Test Credit Ratings for Gulf Power Company Series 2011A 5.75% Senior Notes due

Machine Learning utilizes multiple learning algorithms to obtain better predictive powers. In our research, we utilize machine learning to combine the results from the Neural Network with Accumulation Distribution Line and Simple Regression. Machine Learning based stock forecast (n+30) for SHIVATEX Shiva Texyarn Limited as below: SHIVATEX Shiva Texyarn Limited Stock Forecast (Buy or Sell) as of 04 Dec 2021 for (n+30) How Does Forecast Model Work? x axis:Likelihood % y axis:Potential Impact % z axis:Color (yellow to green) Technical Analysis % NSE:SHIVATEX Stock Forecast Rationales & Estimation Model Time series to forecast n: 04 Dec 2021 for (n+30) Our view of a company's financial policy is an important input when assessing its current and future liquidity position. For instance, we assess whether a company has historically had a higher risk appetite and an aggressive acquisition strategy that has strained its liquidity position, or whether it has taken actions

BOSTON (AC Invest Credit Rating Terminal) Sat Dec 04 2021 09:55:02 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Credit Rating Rationales & Model When assessing strong or exceptional liquidity, we include all forecasted capital expenditures over the next 24 months, including discretionary growth capital spending. Rating Model for FIRST VALLEY NATIONAL CORP.: We estimate the credit risk parameters by Triple Exponential Moving Average (TRIX) and Multiple Regression Credit Ratings for FIRST VALLEY NATIONAL CORP. as of 04 Dec 2021 Credit Rating Short-Term Long-Term Senior AI Rating Class* B1 Ba2 Semantic Signals 49 64 Financial Signals 72 72 Risk Signals 46 79 Substantial Risks 50 33 Speculative Signals 82 85 *Machine Learning utilizes multiple learning algorithms to obtain better predictive powers. In our research, we utilize machine learning to combine the results from the Neural Network and Support Vector

Machine Learning utilizes multiple learning algorithms to obtain better predictive powers. In our research, we utilize machine learning to combine the results from the Neural Network with Modified (Smoothed) Moving Average and Ridge Regression. Machine Learning based stock forecast (n+6m) for RECLTD REC Limited as below: RECLTD REC Limited Stock Forecast (Buy or Sell) as of 04 Dec 2021 for (n+6m) How Does Forecast Model Work? x axis:Likelihood % y axis:Potential Impact % z axis:Color (yellow to green) Technical Analysis % NSE:RECLTD Stock Forecast Rationales & Estimation Model Time series to forecast n: 04 Dec 2021 for (n+6m) We do not exclude cash that the company needs to maintain to run the business and meet potential working capital requirements. Since working capital outflows are included under uses (B) of liquidity, system-related cash needed to run the business should be included in sources, along with items such as customer advances. We estimate RECLTD REC Li

BOSTON (AC Invest Credit Rating Terminal) Sat Dec 04 2021 09:25:02 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Credit Rating Rationales & Model Given that we exclude proposed "best efforts" or potential financings as a source of liquidity, we also exclude from uses of liquidity acquisitions and other discretionary spending that are contingent on the successful issuance of new financing to support the proposed transaction. Rating Model for FIRST STATE BANK OF PORTER: We estimate the credit risk parameters by Wien Bridge Oscillator and Pearson Correlation Credit Ratings for FIRST STATE BANK OF PORTER as of 04 Dec 2021 Credit Rating Short-Term Long-Term Senior AI Rating Class* B3 B1 Semantic Signals 59 66 Financial Signals 53 72 Risk Signals 44 57 Substantial Risks 52 33 Speculative Signals 31 57 *Machine Learning utilizes multiple learning algorithms to obtain better predictive powers. In our r

Machine Learning utilizes multiple learning algorithms to obtain better predictive powers. In our research, we utilize machine learning to combine the results from the Neural Network with Anomaly and ElasticNet Regression. Machine Learning based stock forecast (n+1y) for TLC Taiwan Liposome Company as below: TLC Taiwan Liposome Company Stock Forecast (Buy or Sell) as of 04 Dec 2021 for (n+1y) How Does Forecast Model Work? x axis:Likelihood % y axis:Potential Impact % z axis:Color (yellow to green) Technical Analysis % NASDAQ:TLC Stock Forecast Rationales & Estimation Model Time series to forecast n: 04 Dec 2021 for (n+1y) We do not include potential future debt issuances as a source of liquidity because of the uncertainty of a company's ability to access debt markets in times of financial stress, even for investment-grade issuers. For instance, in the case of a proposed financing, with the intended use of proceeds to repay existing debt, we will assess a company&

BOSTON (AC Invest Credit Rating Terminal) Sat Dec 04 2021 08:55:03 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Credit Rating Rationales & Model For example, if a company incurred a large working capital inflow in the fourth quarter, which more than offset working capital outflows during the first three quarters, we would use the peak working capital outflows within our A/B and A-B calculation. However, we avoid double-counting when the working capital outflow is already captured through our assumption of peak CP amount. Rating Model for Frontier Communications Corporation: We estimate the credit risk parameters by Volume + Moving Average and Stepwise Regression Credit Ratings for Frontier Communications Corporation as of 04 Dec 2021 Credit Rating Short-Term Long-Term Senior AI Rating Class* B1 Ba2 Semantic Signals 56 80 Financial Signals 40 53 Risk Signals 41 77 Substantial Risks 86 70 Speculative Signal

Machine Learning utilizes multiple learning algorithms to obtain better predictive powers. In our research, we utilize machine learning to combine the results from the Neural Network with Commodity Channel Index and ElasticNet Regression. Machine Learning based stock forecast (n+30) for VAR Varian Medical Systems as below: VAR Varian Medical Systems Stock Forecast (Buy or Sell) as of 04 Dec 2021 for (n+30) How Does Forecast Model Work? x axis:Likelihood % y axis:Potential Impact % z axis:Color (yellow to green) Technical Analysis % NYSE:VAR Stock Forecast Rationales & Estimation Model Time series to forecast n: 04 Dec 2021 for (n+30) While the existence of a commercial paper (CP) program can provide companies with alternative sources of short-term funding, such a program would not be considered a committed source of liquidity. Additionally, we do not require the presence of a committed facility to back up the full size of the CP program. For liquidity to be at least

BOSTON (AC Invest Credit Rating Terminal) Sat Dec 04 2021 08:25:02 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Credit Rating Rationales & Model Our liquidity uses include dividends and share repurchases that we expect under a stress scenario. Unlike other potential uses of liquidity, such as debt maturities or maintenance capital spending, we view dividends and share repurchases as more discretionary, although more so for the latter. For this reason, when evaluating a company's liquidity position, we may use a lower estimate of dividends and shareholder repurchases than in our base-case forecast based on our views of management and the company's track record in terms of shareholder returns and maintaining a certain minimum level of liquidity. Rating Model for Forbes Energy Services Ltd: We estimate the credit risk parameters by Money Flow Index (MFI) and Ridge Regression Credit Ratings for Forbes Energy Services Ltd as

Machine Learning utilizes multiple learning algorithms to obtain better predictive powers. In our research, we utilize machine learning to combine the results from the Neural Network with Moving Average Convergence Divergence (MACD) and Wilcoxon Sign-Rank Test. Machine Learning based stock forecast (n+3m) for XELB Xcel Brands as below: XELB Xcel Brands Stock Forecast (Buy or Sell) as of 04 Dec 2021 for (n+3m) How Does Forecast Model Work? x axis:Likelihood % y axis:Potential Impact % z axis:Color (yellow to green) Technical Analysis % NASDAQ:XELB Stock Forecast Rationales & Estimation Model Time series to forecast n: 04 Dec 2021 for (n+3m) If, for example, a facility matured in 18 months, we could include the borrowing availability as a source of liquidity in year one, but exclude the amount in year two under the exceptional and strong descriptors (as well as include any drawn portions as debt maturities under uses of liquidity). This is because we do not assume an e

BOSTON (AC Invest Credit Rating Terminal) Sat Dec 04 2021 07:55:02 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Credit Rating Rationales & Model When calculating sources of liquidity, we only include the undrawn, available portion of committed bank lines maturing beyond the specified time horizon for each liquidity descriptor. For example, when assessing liquidity as adequate, we only include a committed revolving credit facility as a source if it matured beyond the next 12 months. Similarly, given that our liquidity assessment looks out over two years when assessing liquidity as strong or exceptional, we only include a facility maturing beyond 24 months as a source of liquidity. Rating Model for Baota Industry Co Ltd: We estimate the credit risk parameters by Volume + Moving Average and Spearman Correlation Credit Ratings for Baota Industry Co Ltd as of 04 Dec 2021 Credit Rating Short-Term Long-Term Senior AI

Machine Learning utilizes multiple learning algorithms to obtain better predictive powers. In our research, we utilize machine learning to combine the results from the Neural Network with Volume and Beta. Machine Learning based stock forecast (n+15) for ONEM 1Life Healthcare as below: ONEM 1Life Healthcare Stock Forecast (Buy or Sell) as of 04 Dec 2021 for (n+15) How Does Forecast Model Work? x axis:Likelihood % y axis:Potential Impact % z axis:Color (yellow to green) Technical Analysis % NASDAQ:ONEM Stock Forecast Rationales & Estimation Model Time series to forecast n: 04 Dec 2021 for (n+15) Larger, investment-grade issuers that have access to both public and private debt markets have greater flexibility than companies that depend solely on private bank loans. In addition, we consider whether a company can borrow on an unsecured basis, has access to the commercial paper markets, and issues debt in multiple geographies. It is more costly to raise debt in the public

BOSTON (AC Invest Credit Rating Terminal) Sat Dec 04 2021 07:25:03 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Credit Rating Rationales & Model To assess an issuer's standing in the credit markets, we may look at factors such as equity, debt, and credit default swaps (CDS) trading levels, where available, relative to peers and market averages. For example, lower-than-average debt trading levels or widening rating-adjusted spreads relative to market averages may indicate decreasing market confidence about a company's prospects and ability to meet its debt maturities. As a result, the company could have increased difficulty accessing the capital markets. Rating Model for Innovation Pharmaceuticals Inc: We estimate the credit risk parameters by Price Channels and Spearman Correlation Credit Ratings for Innovation Pharmaceuticals Inc as of 04 Dec 2021 Credit Rating Short-Term Long-Term Senior AI Rating Cl

Machine Learning utilizes multiple learning algorithms to obtain better predictive powers. In our research, we utilize machine learning to combine the results from the Neural Network with Tri-tet Oscillators and Pearson Correlation. Machine Learning based stock forecast (n+3m) for TRF TRF Limited as below: TRF TRF Limited Stock Forecast (Buy or Sell) as of 04 Dec 2021 for (n+3m) How Does Forecast Model Work? x axis:Likelihood % y axis:Potential Impact % z axis:Color (yellow to green) Technical Analysis % NSE:TRF Stock Forecast Rationales & Estimation Model Time series to forecast n: 04 Dec 2021 for (n+3m) Under times of stress, such actions could include dividend cuts, suspension of share repurchases, or maintenance of minimum cash balances. This is particularly relevant for exceptional and strong assessments, where issuers are required to carry higher levels of excess liquidity even during times of stress. For example, when assessing liquidity, we would generally ex

BOSTON (AC Invest Credit Rating Terminal) Sat Dec 04 2021 06:55:02 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Credit Rating Rationales & Model Given that we exclude proposed "best efforts" or potential financings as a source of liquidity, we also exclude from uses of liquidity acquisitions and other discretionary spending that are contingent on the successful issuance of new financing to support the proposed transaction. Rating Model for CITIZENS FIRST BANK: We estimate the credit risk parameters by Bollinger Bands Width and Sign Test Credit Ratings for CITIZENS FIRST BANK as of 04 Dec 2021 Credit Rating Short-Term Long-Term Senior AI Rating Class* Ba3 Ba3 Semantic Signals 81 37 Financial Signals 72 77 Risk Signals 48 74 Substantial Risks 72 57 Speculative Signals 49 66 *Machine Learning utilizes multiple learning algorithms to obtain better predictive powers. In our research, we utilize mac

Machine Learning utilizes multiple learning algorithms to obtain better predictive powers. In our research, we utilize machine learning to combine the results from the Neural Network with Running Moving Average (RMA) and Wilcoxon Rank-Sum Test. Machine Learning based stock forecast (n+15) for BPYPN Brookfield Property Partners L.P. as below: BPYPN Brookfield Property Partners L.P. Stock Forecast (Buy or Sell) as of 04 Dec 2021 for (n+15) How Does Forecast Model Work? x axis:Likelihood % y axis:Potential Impact % z axis:Color (yellow to green) Technical Analysis % NASDAQ:BPYPN Stock Forecast Rationales & Estimation Model Time series to forecast n: 04 Dec 2021 for (n+15) In addition, a speculative-grade company's access to the credit markets during times of stress, such as the financial crisis, is often a function of the capital market's appetite for risk. Accordingly, it would be rare that we would characterize a speculative-grade company as having a generally

BOSTON (AC Invest Credit Rating Terminal) Sat Dec 04 2021 06:25:03 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Credit Rating Rationales & Model If a company has a credit put that causes debt acceleration or collateral posting due to a downgrade of three notches or less, we would include these requirements under uses of liquidity, per paragraph 30 of the liquidity criteria. For example, if a 'BBB' rated company had a credit put that was triggered with a downgrade to speculative grade, we would include the corresponding cash requirement under uses of liquidity. This is because the criteria evaluate a company's liquidity position during times of stress, when potential downgrades are more likely. Rating Model for Human Associates Holdings Inc: We estimate the credit risk parameters by Keltner Channels and Factor Credit Ratings for Human Associates Holdings Inc as of 04 Dec 2021 Credit Rating Short-Term

Machine Learning utilizes multiple learning algorithms to obtain better predictive powers. In our research, we utilize machine learning to combine the results from the Neural Network with Psychological Line (PSY) and Simple Regression. Machine Learning based stock forecast (n+3m) for GLW Corning Incorporated as below: GLW Corning Incorporated Stock Forecast (Buy or Sell) as of 04 Dec 2021 for (n+3m) How Does Forecast Model Work? x axis:Likelihood % y axis:Potential Impact % z axis:Color (yellow to green) Technical Analysis % NYSE:GLW Stock Forecast Rationales & Estimation Model Time series to forecast n: 04 Dec 2021 for (n+3m) For new issuers, while our ratings are prospective, we will not include proposed financing as a source in our liquidity calculations until the financing has been obtained or is fully underwritten. Similarly, we would not include rights issues as a source of liquidity for a company, unless the rights issue is irrevocably guaranteed (for example,

BOSTON (AC Invest Credit Rating Terminal) Sat Dec 04 2021 05:55:18 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Credit Rating Rationales & Model Investments should be able to be quickly liquidated without requiring deep discounts to their carrying value. This does not preclude long-term investments from being included. It does, however, exclude large stakes in non-liquid equity investments. Rating Model for Superior Vision Insurance, Inc.: We estimate the credit risk parameters by Wien Bridge Oscillator and Pearson Correlation Credit Ratings for Superior Vision Insurance, Inc. as of 04 Dec 2021 Credit Rating Short-Term Long-Term Senior AI Rating Class* Ba3 B2 Semantic Signals 51 49 Financial Signals 61 90 Risk Signals 48 35 Substantial Risks 77 34 Speculative Signals 85 42 *Machine Learning utilizes multiple learning algorithms to obtain better predictive powers. In our research, we utilize machine lear