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Showing posts from November 29, 2018

Ulaanbaatar joins EBRD Green Cities

You have subscribed to News from the European Bank for Reconstruction and Development (EBRD). We have just published this content. Ulaanbaatar joins EBRD Green Cities 30-11-2018 09:58 AM GMT Action Plan to identify priority investments for Mongolia's capital  Find us on Manage subscription ,  Unsubscribe ,  Contact us This email was sent to cetinkayaadem.news@blogger.com using GovDelivery Communications Cloud on behalf of: European Bank for Reconstruction and Development · One Exchange Square · London EC2A 2JN · United Kingdom · +44 020 7338 6000

Power Finance Corp. Ltd. Outlook Revised To Negative From Stable; 'BBB-' Rating Affirmed

PFC's capitalization is at the lower end of our threshold for a strong assessment, and we could revise our assessment down if the company grows loans faster and retains less capital than we expect. We do not factor in a potential merger of PFC with another Indian government-owned finance company, REC Ltd. We are revising our rating outlook on PFC to negative from stable. At the same time, we are affirming our 'BBB-' long-term issuer credit rating on PFC. We are also affirming the 'BBB-' long-term issue rating on PFC's outstanding debt. The negative outlook on PFC reflects a one-in-three chance that the company will not sustain a RAC ratio above our threshold of 9.5% over the next 12-18 months. SINGAPORE (S&P Global Ratings) Nov. 30, 2018--S&P Global Ratings revised its outlook on Power Finance Corp. (PFC) to negative from stable. At the same time, we affirmed our 'BBB-' long-term issuer credit rating on the India-based power fin

China General Nuclear Power 'A-' Rating Affirmed With Stable Outlook

CGNPC's new nuclear power units coming online should improve its cash flows over the next 24 months. The company is also raising funds from a diversified pool at competitive costs to fund its still-high investments. We expect CGNPC's cash flow leverage to improve slightly over the next 24 months and maintain stable interest coverage because capacity-led profit growth could offset the impact of higher debt. We are affirming our 'A-' long-term issuer credit rating on the China-based nuclear power producer and our 'BBB+' long-term issue rating on the company's guaranteed senior unsecured notes. The stable outlook reflects our view that CGNPC is making material progress in constructing new capacity and its newly operational capacity will enhance profits over the next 12-24 months. SINGAPORE (S&P Global Ratings) Nov. 30, 2018--S&P Global Ratings today affirmed our 'A-' long-term issuer credit rating on China General Nuclear Power

Dongling Group Downgraded To 'B-' With Negative Outlook; Rating Then Withdrawn At The Issuer's Request

We expect Dongling Group's leverage and interest coverage to remain weak due to lower margins, higher debt, and high working capital requirements. The Chinese metals and mining company's liquidity has also tightened due to increased short-term debt maturities, a high amount of restricted cash, and weaker operating cash flows. We are lowering our long-term issuer credit rating on Dongling Group to 'B-' from 'B'. We are then withdrawing the rating at the company's request. The negative outlook at the time of withdrawal reflected our view that Dongling Group's financial performance may further weaken and that the company may have to rely on favorable conditions to service its debt. HONG KONG (S&P Global Ratings) Nov. 30, 2018--S&P Global Ratings said today that it had lowered its long-term issuer credit rating on Dongling Group Inc. Co. to 'B-' from 'B'. It then withdrew the rating at the company's request. The o

Outlooks On Mizuho Financial Group's Core Brokerage Subsidiaries Revised Upward To Positive; Ratings Affirmed

We have reviewed our ratings on Mizuho Securities, Mizuho Securities USA, and Mizuho International because the credit quality of parent Mizuho Financial Group has improved. We continue to view the securities operations of the three companies as a core business of the group. We are revising our outlooks on the three companies to positive from stable and affirming our issuer credit ratings on the companies. TOKYO (S&P Global Ratings) Nov. 30, 2018--S&P Global Ratings today said it has revised to positive from stable its outlooks on the long-term issuer credit ratings on Mizuho Securities Co. Ltd., Mizuho Securities USA LLC, and Mizuho International plc. At the same time, we have affirmed our 'A' long- and 'A-1' short-term issuer credit ratings on the companies and all of our issue credit ratings on Mizuho Securities USA. The outlook revisions on the three companies follow our assessment that the credit quality of parent Mizuho Financial Group Inc.

Spanish Real Estate Company Hispania Activos Inmobiliarios Socimi 'BBB-' Rating Withdrawn At The Company's Request

MADRID (S&P Global Ratings) Nov. 30, 2018--S&P Global Ratings today withdrew its 'BBB-' long-term issuer credit rating on Spanish real estate company Hispania Activos Inmobiliarios Socimi S.A. at the company's request. Our rating was on CreditWatch with negative implications at the time of the withdrawal. At the time of the withdrawal, our rating on Hispania factored in the high quality of its hotel portfolio, with assets located at top vacation destinations in Spain including the Canary and Balearic Islands. Our rating also took into consideration the company's increasing focus on hotels, which have a portion of variable rent that is based on hotel operators' gross operating profits. We see this lease structure as more volatile and less predictable than agreements with only fixed-rent terms. Hispania's revenue concentration on one tenant (Barcelo) also weighed on our analysis. Hispania's leverage metrics remained strong in the first hal

Former U.S. Treasury Secretary Larry Summers discusses the U.S.-China trade conundrum during an interview on FOX Business’ “WSJ At Large With Gerry Baker.”

US must police China’s unfair trade practices: Larry Summers Former U.S. Treasury Secretary Larry Summers discusses the U.S.-China trade conundrum during an interview on FOX Business’ “WSJ At Large With Gerry Baker.”

CATO Institute senior fellow IIya Shapiro on how the Supreme Court may take action to limit civil asset forfeiture.

Should the Supreme Court take action to limit civil asset forfeiture? CATO Institute senior fellow IIya Shapiro on how the Supreme Court may take action to limit civil asset forfeiture.

Outlooks On Mizuho Financial Group And Operating Banks Revised To Positive; Ratings Affirmed

We expect Mizuho Financial Group (Mizuho FG) to maintain a higher level of capital relative to risk-weighted assets over the medium term. We are revising the outlooks on our long-term issuer credit ratings on Mizuho FG and the group's core banking subsidiaries to positive from stable and affirming our issuer credit ratings and debt ratings on these entities. At the same time, we are upgrading by one notch a portion of Mizuho FG's and Mizuho Bank's subordinated debt, which is rated off the group's standalone assessment. The positive outlooks reflect our view that we could include a notch of government support in the ratings on Mizuho FG and its core operating banks if we raise our sovereign rating on Japan. TOKYO (S&P Global Ratings) Nov. 30, 2018--S&P Global Ratings today said it has revised the outlooks to positive from stable on its long-term issuer credit ratings on Mizuho Financial Group Inc. (Mizuho FG) and its core banking subsidiaries, i

Addressing Gender-Based Violence Risks in Investments - Good Practice Note for the Private Sector

You have subscribed to Consultancy procurement notices from the European Bank for Reconstruction and Development (EBRD). We have just published this content. Addressing Gender-Based Violence Risks in Investments - Good Practice Note for the Private Sector 30-11-2018 12:00 AM GMT  Find us on Manage subscription ,  Unsubscribe ,  Contact us This email was sent to cetinkayaadem.news@blogger.com using GovDelivery Communications Cloud on behalf of: European Bank for Reconstruction and Development · One Exchange Square · London EC2A 2JN · United Kingdom · +44 020 7338 6000

Troy Aikman: Dallas Cowboys are 'absolutely' for real and will win NFC East | FOX NFL

Troy Aikman: Dallas Cowboys are 'absolutely' for real and will win NFC East | FOX NFL

Griffith Public Schools, IN Bond Outlook Revised To Negative On Decreased Reserves

CHICAGO (S&P Global Ratings) Nov. 29, 2018--S&P Global Ratings revised its outlook to negative from stable and affirmed its 'A' underlying rating on Griffith Public Schools, Ind.'s existing debt. At the same time, S&P Global Ratings assigned its 'AA+' long-term rating and 'A' underlying rating to the school's $5 million series 2018 property tax first mortgage bonds. Finally, S&P Global Ratings affirmed its 'AA+' long-term rating on Griffith Public Schools, Ind.'s outstanding debt, some of which was issued by the Griffith Multi-School Building Corp. The outlook on the long-term program rating is stable. The outlook on the underlying rating is negative. "The negative outlook reflects our view of the uncertainty regarding how the school corporation will address increasing budgetary challenges in both 2019 and 2020, especially with an available cash reserve that is anticipated to be significantly drawn down in 20

Healdsburg Unified School District, CA GO Bond Rating Raised To 'AA+' On Growing Local Economy, Financial Flexibility

SAN FRANCISCO (S&P Global Ratings) Nov. 29, 2018--S&P Global Ratings raised its long-term and underlying rating (SPUR) to 'AA+' from 'AA' on Healdsburg Unified School District, Calif.'s existing general obligation (GO) bonds. At the same time, S&P Global Ratings assigned its 'AA+' long-term rating to the district's election of 2016, series B GO bonds. The outlook on all ratings is stable. "The raised rating reflects our view of the district's continued growth in the local economy and its tax base, which has led to stronger economic metrics, including an extremely strong market value per capita figure," said S&P Global Ratings credit analyst Li Yang. "The rating action also reflects our view of the district's status as a community-supported--formerly called basic aid--district, which gives the district even more financial flexibility with its growing tax base," Mr. Yang added. Bond proceeds will be

Peaks CLO 3 Ltd./Peaks CLO 3 LLC Notes Assigned Preliminary Ratings

OVERVIEW Peaks CLO 3 Ltd./Peaks CLO 3 LLC's issuance is a CLO transaction backed primarily by speculative-grade (rated 'BB+' and lower) senior secured term loans that are governed by collateral quality tests. We assigned our preliminary ratings to the class X, A-1, A-2, B-1, B-2, B-3, C, D, and E notes. The preliminary ratings reflect our view of the transaction's collateral pool, credit enhancement, and legal structure, among other factors. CENTENNIAL (S&P Global Ratings) Nov. 29, 2018--S&P Global Ratings today assigned its preliminary ratings to Peaks CLO 3 Ltd./Peaks CLO 3 LLC's fixed- and floating-rate notes (see list). The note issuance is a collateralized loan obligation transaction backed primarily by speculative-grade (rated 'BB+' and lower) senior secured term loans that are governed by collateral quality tests. The preliminary ratings are based on information as of Nov. 29, 2018. Subsequent information may result in the as

Mackinaw Power LLC Senior Secured Notes Assigned 'BBB+' Preliminary Rating; Outlook Stable

Mackinaw Power LLC's (Mackinaw Power) has initiated a debt exchange as part of its sale of its Washington County power plant, using $35 million of the proceeds to reduce the $87.6 million of senior notes outstanding. Despite lower debt service coverage ratios (DSCRs) following the sale, the rating between the existing debt and the new debt is the same because there was sufficient DSCR headroom at the current rating level. We are therefore assigning a preliminary 'BBB+' rating to Mackinaw Power's $52.6 million senior secured notes due October 2023. The outlook is stable, reflecting the outlook on Deutsche Bank Trust Co. Americas as depository bank, which constrains the rating. SAN FRANCISCO (S&P Global Ratings) Nov. 29, 2018--S&P Global Ratings today took the rating actions listed above. This report is based on information as of Nov. 29, 2018. The rating is preliminary. Subsequent information may result in the assignment of a final rating that di

Nelson City Council 'AA/A-1+' Ratings Affirmed; Outlook Stable

OVERVIEW We expect Nelson City Council to record small after-capital deficits during the next few years as it rolls out a larger infrastructure program. While capital expenditure will be partly funded by new borrowing, Nelson's debt burden should remain moderate. Our ratings on Nelson continue to be supported by its robust financial management, budgetary flexibility, and strong liquidity. We are affirming our 'AA' long-term and 'A-1+' short-term ratings on Nelson. The outlook on the long-term ratings is stable. RATING ACTION On Nov. 30, 2018, S&P Global Ratings affirmed its 'AA' long-term foreign-currency and local-currency and 'A-1+' short-term issuer credit ratings on Nelson City Council, a New Zealand local government. The outlook on the long-term ratings is stable. OUTLOOK The stable outlook reflects our expectation that although Nelson City Council will record small after-capital deficits during the next few years, its deb