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Showing posts from December 11, 2018

Theresa May's Brexit crisis deepened as members of her own party triggered a vote of no-confidence in her leadership. If she loses the vote, she will be out as British Prime Minister. #CNN #News

Theresa May: Change in leadership could delay Brexit Theresa May's Brexit crisis deepened as members of her own party triggered a vote of no-confidence in her leadership. If she loses the vote, she will be out as British Prime Minister. #CNN #News Other stories about: Theresa May: Change in leadership could delay Brexit

French police are looking for the gunman who killed at least three people and injured a dozen others after opening fire near a Christmas market in in the French city of Strasbourg. #CNN #News

Manhunt continues for Strasbourg shooting suspect French police are looking for the gunman who killed at least three people and injured a dozen others after opening fire near a Christmas market in in the French city of Strasbourg. #CNN #News Other stories about: Manhunt continues for Strasbourg shooting suspect

Swan Housing Association Outlook To Negative On Increased Market-Related Activities; 'A-' Rating Affirmed

We project that U.K.–based Swan Housing Association (Swan) will maintain a high exposure to market-related activities, from which we anticipate it will derive more than 50% of its total revenue over the next few years. Swan's adequate financial risk profile is supported by its solid liquidity position, underpinned by funding linked to a strategic partnership with the Greater London Authority. We are revising to negative our outlook on Swan and affirming our 'A-' long-term issuer credit rating. The negative outlook indicates that we could lower our ratings on Swan and its debt over the next 24 months if Swan's development for sales activities were to weaken its debt service coverage and liquidity. We would also lower our rating on Swan if we were to lower our ratings on the U.K. LONDON (S&P Global Ratings) Dec. 12, 2018--S&P Global Ratings today revised its outlook on U.K.-based social housing provider Swan Housing Association (Swan) to negative

DAMU And DBK 'BB+/B' Ratings Affirmed, Despite Increased Industry Risks In Kazakhstan's Banking System; Outlooks Stable

We believe that industry risks in Kazakhstan's banking system have increased due to the influence on the competitive landscape from the government, government related-entities, and well-connected banks' owners. In our view, the creditworthiness of DAMU Entrepreneurship Development Fund (DAMU) and Development Bank of Kazakhstan (DBK) will remain resilient against the increased industry risks, thanks to an almost certain likelihood of government support for the Baiterek Holding group, of which both entities are core subsidiaries. We are therefore affirming our 'BB+/B' ratings on DAMU and DBK. The stable outlooks on DAMU and DBK mirror our outlook on the sovereign ratings on Kazakhstan. DUBAI (S&P Global Ratings) Dec. 12, 2018--S&P Global Ratings today affirmed its 'BB+/B' long- and short-term foreign- and local-currency issuer credit ratings on Kazakhstan-based DAMU Entrepreneurship Development Fund (DAMU) and Development Bank of Kazakhsta

EBRD good governance policy consultation – Almaty

You have subscribed to Events from the European Bank for Reconstruction and Development (EBRD). We have just published this content. EBRD good governance policy consultation – Almaty 12-12-2018 09:23 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

EBRD good governance policy consultation – Istanbul

You have subscribed to Events from the European Bank for Reconstruction and Development (EBRD). We have just published this content. EBRD good governance policy consultation – Istanbul 12-12-2018 09:22 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

Guangzhou Industrial Investment Fund Management 'BBB+/A-2' Ratings Affirmed; Outlook Is Negative; Taken Off CreditWatch

We continue to see negative ratings pressure for Sfund brought by a recent change in ownership, which could lessen the likelihood of extraordinary government support to Guangzhou's fund management platform. This uncertainty is mitigated by the Guangzhou government's improved creditworthiness, and its stipulation of a post-ownership-change "transition period," during which Sfund's business scope, management and operations will not change. We are affirming our 'BBB+/A-2' issuer credit ratings on Sfund and the 'BBB+' long-term issue rating on the senior unsecured debt the company guarantees; and removing all the ratings from CreditWatch negative. The negative outlook reflects our expectation that the lower-tier government ownership would potentially weaken Sfund's linkage with Guangzhou government, after the transition period. HONG KONG (S&P Global Ratings) Dec. 12, 2018--S&P Global Ratings affirmed its 'BBB+' long

Kleopatra Holdings 1 S.C.A. Downgraded To 'B-' On Weaker-Than-Expected Operating Performance; Outlook Stable

Kleopatra Holdings 1 S.C.A. (KP), the ultimate holding company (holdco) of German packaging manufacturer Kloeckner Pentaplast, underperformed our EBITDA expectations in 2018. Our revised revenue and EBITDA forecasts result in weaker credit metrics for year-end 2019. We now expect S&P Global Ratings-adjusted EBITDA interest coverage to be around 1.6x and adjusted debt to EBITDA around 9x. These are below our previous expectations of 2x and 8x, respectively. We are therefore lowering our long-term issuer credit rating on KP to 'B-' from 'B'. We are also lowering the issue rating on the senior secured facilities to 'B-' from 'B' and on the holdco notes to 'CCC' from 'CCC+'. The stable outlook reflects our expectation that EBITDA interest coverage will exceed 1.5x and that liquidity will remain adequate over the next 12 months. LONDON (S&P Global Ratings) Dec. 12, 2018--S&P Global Ratings today lowered to 'B-

Selma, AL, Debt Downgraded To 'BB+' From 'BBB+' On Continuing Structural Imbalance And Management Issues

NEW YORK (S&P Global Ratings) Dec. 11, 2018--S&P Global Ratings lowered its underlying rating (SPUR) on Selma, Ala.'s general obligation (GO) bonds and warrants three notches to 'BB+' from 'BBB+'. The outlook is negative. "The downgrade reflects the city's continued structural imbalance, without a current agreement among city officials on how to correct it," said S&P Global Ratings credit analyst Tiffany Tribbitt. This is in part due to ongoing political instability, with the council and mayor unable to reach agreement on a budget that makes necessary structural adjustments to align revenues with expenditures. Because of continued deficits, Selma's reserve position has weakened, and its cash position is becoming pressured. Notably, the city is struggling to meet payroll early in its fiscal year, and is delaying payments. While it has taken steps, including laying off about 60 employees and implementing a hiring freeze, in o

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

OVERVIEW Dunedin City Council and its subsidiaries will roll out a relatively large program of capital works during the next few years. We expect this to lead to weaker budgetary performance and a gradual increase in the council's debt burden. The ratings on Dunedin continue to be supported by its robust management, adequate liquidity, and the excellent institutional framework that applies to local governments in New Zealand. We are affirming our 'AA' long-term and 'A-1+' short-term ratings on Dunedin. The outlook on the long-term ratings is stable. RATING ACTION On Dec. 12, 2018, S&P Global Ratings affirmed its 'AA' long-term foreign- and local-currency and 'A-1+' short-term issuer credit ratings on Dunedin 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 Dunedin and its subsidiaries will roll out a large program of

Dunedin City Treasury Ltd. 'AA/A-1+' Ratings Affirmed; Outlook Stable

We are affirming our 'AA/A-1+' long- and short-term ratings on Dunedin City Treasury Ltd., a wholly owned subsidiary of Dunedin City Council. We equalize our ratings on DCTL with those on the council. The ratings reflect our assessment of an almost-certain likelihood that extraordinary support would be forthcoming from Dunedin in a stress scenario. The outlook on the ratings is stable. MELBOURNE (S&P Global Ratings) Dec. 12, 2018--S&P Global Ratings today affirmed its 'AA/A-1+' long- and short-term issuer credit ratings on Dunedin City Treasury Ltd. (DCTL). The outlook on the long-term ratings remains stable. The affirmation of our ratings on DCTL reflects our assessment that there is an almost-certain likelihood that extraordinary support would be forthcoming from DCTL's sole owner, Dunedin City Council (Dunedin), in a stress scenario. In accordance with our criteria for government-related entities, our view of an almost-certain likelihood

Impact CIL Parent LLC, CA Revolving Note Rating Affirmed At 'BBB' And Removed From CreditWatch

SAN FRANCISCO (S&P Global Ratings) Dec. 11, 2018--S&P Global Ratings affirmed its 'BBB' long-term rating on Impact CIL Parent LLC (CILP), Calif.'s revolving notes series 2003-1 and removed the rating from CreditWatch, where it had been placed with developing implications on Nov. 1, 2017. The outlook is stable. The rating is based on our analysis of the credit quality of the notes, which evidence a loan issued to the borrower, CILP, by a consortium of insurance companies pursuant to a revolving member loan (RML) agreement. In addition, the rating is based on a borrowing of portion of our criteria "U.S. Public Finance Long-Term Municipal Pools: Methodology And Assumptions," published March 19, 2012 on RatingsDirect. We have applied this methodology because the collateral for the RML consists of approximately 81% permanent multifamily affordable housing loans and approximately 12% multifamily loan pool pass-through certificates issued by an affi

Lie of the Year; truth-tellers in danger; Kathie Lee's farewell; Verizon's admission; Google CEO on Capitol Hill; 'Aquaman' reviews

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