BOSTON (AI Credit Rating Terminal) Fri May 01 2020 10:50:01 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Rating Action Overview We downgraded Orient Electric Limited deduct investments in insurance subsidiaries (as per paragraphs 41-43) and significant minority investments in financial institutions. We use econometric methods for period (n+30) simulate with Relative Strength Index (RSI) Sign Test. Reference code is: 3654. Beta DRL value REG 24 Rational Demand Factor LD 3965.0604000000003. The various qualitative factors in the criteria help to identify strengths and weaknesses within a company's future liquidity position that numerical ratios might not fully capture. While there is no size bias in our liquidity assessment, generally, lower-rated entities might meet the quantitative requirements for strong or exceptional liquidity but fail to meet corresponding qualitative factors. Credit Rating AI Process rely on primary sources

We think petrol station operator EG Group's earnings, cash flows, and pace of leverage reduction will fall short of our previous expectations as the COVID-19 pandemic leads to declines in fuel demand, the closure of food-to-go (FTG) operations, and reduced sales at its convenience stores. We expect the group's diversified operations, substantial contribution from convenience stores, very high fuel margins, and cost-saving and cash preservation initiatives in 2020 will curtail earnings erosion in the next 12 months, and cash flows will likely stay positive. We are lowering our long-term issuer credit rating on EG Group to 'B-' from 'B'. The stable outlook reflects our view that the group will likely prevent its S&P Global Ratings-adjusted debt to EBITDA from significantly exceeding 10x in 2020, and promptly reduce it to about 8x by end-2021, unless the fallout from the pandemic is greater than we currently anticipate. LONDON (S&P Global Ratings) Ma

BOSTON (AI Credit Rating Terminal) Fri May 01 2020 10:20:44 GMT+0000 (Eş Güdümlü Evrensel Zaman) AI Credit Ratings today took the rating actions below: Rating Action Overview We downgraded #N/A #N/A. We use econometric methods for period #N/A simulate with #N/A #N/A. Reference code is: #N/A. Beta DRL value REG #N/A Rational Demand Factor LD 3965.0604000000003. #N/A Credit Rating AI Process rely on primary sources of information: Sec Filings, Financial Statements, Credit Ratings, Semantic Signals. Take a look at Machine Learning section for Financial Deep Reinforcement Learning.

BOSTON (AI Credit Rating Terminal) Fri May 01 2020 10:19:46 GMT+0000 (Eş Güdümlü Evrensel Zaman) AI Credit Ratings today took the rating actions below: Rating Action Overview We downgraded #N/A #N/A. We use econometric methods for period #N/A simulate with #N/A #N/A. Reference code is: #N/A. Beta DRL value REG #N/A Rational Demand Factor LD 3965.0604000000003. #N/A Credit Rating AI Process rely on primary sources of information: Sec Filings, Financial Statements, Credit Ratings, Semantic Signals. Take a look at Machine Learning section for Financial Deep Reinforcement Learning.

BOSTON (AI Credit Rating Terminal) Fri May 01 2020 10:12:02 GMT+0000 (Eş Güdümlü Evrensel Zaman) AI Credit Ratings today took the rating actions below: Rating Action Overview We downgraded . We use econometric methods for period simulate with . Reference code is: #N/A. Beta DRL value REG #N/A Rational Demand Factor LD . Credit Rating AI Process rely on primary sources of information: Sec Filings, Financial Statements, Credit Ratings, Semantic Signals. Take a look at Machine Learning section for Financial Deep Reinforcement Learning.

BOSTON (AI Credit Rating Terminal) Fri May 01 2020 10:11:45 GMT+0000 (Eş Güdümlü Evrensel Zaman) AI Credit Ratings today took the rating actions below: Rating Action Overview We downgraded #N/A #N/A. We use econometric methods for period #N/A simulate with #N/A #N/A. Reference code is: #N/A. Beta DRL value REG #N/A Rational Demand Factor LD 3965.0604000000003. #N/A Credit Rating AI Process rely on primary sources of information: Sec Filings, Financial Statements, Credit Ratings, Semantic Signals. Take a look at Machine Learning section for Financial Deep Reinforcement Learning.

BOSTON (AI Credit Rating Terminal) Fri May 01 2020 10:11:32 GMT+0000 (Eş Güdümlü Evrensel Zaman) AI Credit Ratings today took the rating actions below: Rating Action Overview We downgraded #N/A #N/A. We use econometric methods for period #N/A simulate with #N/A #N/A. Reference code is: #N/A. Beta DRL value REG #N/A Rational Demand Factor LD 3965.0604000000003. #N/A Credit Rating AI Process rely on primary sources of information: Sec Filings, Financial Statements, Credit Ratings, Semantic Signals. Take a look at Machine Learning section for Financial Deep Reinforcement Learning.

BOSTON (AI Credit Rating Terminal) Fri May 01 2020 10:05:02 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Rating Action Overview We downgraded Guggenheim Strategic Opportunities Fund Common Shares of Beneficial Interest because market volatility after the COVID-19 outbreak makes it highly uncertain. We use econometric methods for period (n+7) simulate with KDJ Stepwise Regression. Reference code is: 1302. Beta DRL value REG 33 Rational Demand Factor LD 3965.0604000000003. 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 hav

BOSTON (AI Credit Rating Terminal) Fri May 01 2020 10:00:38 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Rating Action Overview We downgraded Chicago Park District GO because of strategic positioning, operational performance, organizational effectiveness, risk and financial management, and governance. We use econometric methods for period (n+30) simulate with Price Channels ANOVA. Reference code is: 2444. Beta DRL value REG 39 Rational Demand Factor LD 3965.0604000000003. If we believe a company would use cash trapped at a foreign subsidiary to meet debt maturities or other liquidity uses at that foreign subsidiary, we would include this cash as a source of liquidity up to the amount of the corresponding use. We generally haircut the cash to be included under sources when a material proportion of a group's cash is held in a different part of the structure than where the debt is located, and we believe the cash may not be fully f

BOSTON (AI Credit Rating Terminal) Fri May 01 2020 10:00:30 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Rating Action Overview We downgraded Auto Owners Insurance because liquidity position will remain exceptionally weak over the next 12 months. We use econometric methods for period (n+30) simulate with Cross-Coupled Oscillators Chi-Square. Reference code is: 3737. Beta DRL value REG 13 Rational Demand Factor LD 3965.0604000000003. 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 extension of bank lines--regardless of the company's perceived credit strength or issuer credit rating. For instance, whether the issuer credit rating on the company is specu

BOSTON (AI Credit Rating Terminal) Fri May 01 2020 10:00:10 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Rating Action Overview We downgraded Chicago Park District GO because has further large bullet maturities next year and its reliance on alternative financing. We use econometric methods for period (n+30) simulate with Money Flow Index (MFI) Beta. Reference code is: 2409. Beta DRL value REG 30 Rational Demand Factor LD 3965.0604000000003. 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 bond markets and often requires a company to establish a track record among investors. These costs and information asymme

BOSTON (AI Credit Rating Terminal) Fri May 01 2020 10:00:04 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Rating Action Overview We downgraded Ewige Anleihe because of management has no or few defined standards and tolerances and little risk management capability. We use econometric methods for period (n+30) simulate with Modified (Smoothed) Moving Average ANOVA. Reference code is: 3466. Beta DRL value REG 26 Rational Demand Factor LD 3965.0604000000003. The EBITDA declines companies would have to withstand and still have defined sources cover defined uses are as follows for each liquidity descriptor: Adequate: Positive A-B, even if forecasted EBITDA declines by 30%.Weak: A/B or A-B reflecting a material deficit over the next 12 months. Credit Rating AI Process rely on primary sources of information: Sec Filings, Financial Statements, Credit Ratings, Semantic Signals. Take a look at Machine Learning section for Financial Deep Reinforc

BOSTON (AI Credit Rating Terminal) Fri May 01 2020 09:59:57 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Rating Action Overview We downgraded Louisville Water Company because negative outlook reflects low visibility over the company's deleveraging in the next 12 months. We use econometric methods for period (n+7) simulate with Stochastic Oscillator ANOVA. Reference code is: 3437. Beta DRL value REG 43 Rational Demand Factor LD 3965.0604000000003. 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 liquidit

BOSTON (AI Credit Rating Terminal) Fri May 01 2020 09:59:51 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Rating Action Overview We downgraded SM Energy Co. because of strategic positioning, operational performance, organizational effectiveness, risk and financial management, and governance. We use econometric methods for period (n+7) simulate with Royer Oscillators Chi-Square. Reference code is: 2455. Beta DRL value REG 14 Rational Demand Factor LD 3965.0604000000003. We do not treat repayments of leases as debt maturities (even if International Financial Reporting Standard 16 shows them as such in the cash flow statement) because we already have reduced FFO by such lease cash outflow. Credit Rating AI Process rely on primary sources of information: Sec Filings, Financial Statements, Credit Ratings, Semantic Signals. Take a look at Machine Learning section for Financial Deep Reinforcement Learning.

BOSTON (AI Credit Rating Terminal) Fri May 01 2020 09:59:27 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Rating Action Overview We downgraded ONEOK Inc. because the liabilities' resolution-driven default is unlikely because of all of the following: The type of liability is earmarked in the resolution framework for potential exclusion from bail-in at the discretion of the national regulator, other creditors in our view are unlikely to legally challenge such an exclusion. We use econometric methods for period (n+1) simulate with Penetration Beta. Reference code is: 1396. Beta DRL value REG 37 Rational Demand Factor LD 3965.0604000000003. In determining how prudent a company's risk management is, we look for evidence that management has historically anticipated potential company-specific or market-related setbacks and has taken necessary actions to ensure sufficient liquidity. Credit Rating AI Process rely on primary sources of

BOSTON (AI Credit Rating Terminal) Fri May 01 2020 09:59:17 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Rating Action Overview We downgraded Euronet Worldwide Inc add or deduct cumulative effect of credit-spread-related revaluation of liabilities. We use econometric methods for period (n+30) simulate with Voltage Controlled Oscillator Paired T-Test. Reference code is: 1298. Beta DRL value REG 24 Rational Demand Factor LD 3965.0604000000003. In determining how prudent a company's risk management is, we look for evidence that management has historically anticipated potential company-specific or market-related setbacks and has taken necessary actions to ensure sufficient liquidity. Credit Rating AI Process rely on primary sources of information: Sec Filings, Financial Statements, Credit Ratings, Semantic Signals. Take a look at Machine Learning section for Financial Deep Reinforcement Learning.

BOSTON (AI Credit Rating Terminal) Fri May 01 2020 09:59:09 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Rating Action Overview We downgraded Ewige Anleihe because the steps to carry out a bail-in of that type of liability would involve such high operational complexities that would make its bail-in unlikely in a reasonable time. We use econometric methods for period (n+7) simulate with Tuned Collector Oscillator Wilcoxon Rank-Sum Test. Reference code is: 2823. Beta DRL value REG 33 Rational Demand Factor LD 3965.0604000000003. When assessing strong or exceptional liquidity, we include all forecasted capital expenditures over the next 24 months, including discretionary growth capital spending. Credit Rating AI Process rely on primary sources of information: Sec Filings, Financial Statements, Credit Ratings, Semantic Signals. Take a look at Machine Learning section for Financial Deep Reinforcement Learning.

BOSTON (AI Credit Rating Terminal) Fri May 01 2020 09:58:52 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Rating Action Overview We downgraded Crown Holding Inc. because liquidity position will remain exceptionally weak over the next 12 months. We use econometric methods for period (n+1) simulate with Cross-Coupled Oscillators Lasso Regression. Reference code is: 3320. Beta DRL value REG 14 Rational Demand Factor LD 3965.0604000000003. If we believe a company would use cash trapped at a foreign subsidiary to meet debt maturities or other liquidity uses at that foreign subsidiary, we would include this cash as a source of liquidity up to the amount of the corresponding use. We generally haircut the cash to be included under sources when a material proportion of a group's cash is held in a different part of the structure than where the debt is located, and we believe the cash may not be fully fungible within the group Credit Rating

BOSTON (AI Credit Rating Terminal) Fri May 01 2020 09:50:01 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Rating Action Overview We downgraded Planar Systems, Inc. deduct revaluation reserves. We use econometric methods for period (n+1) simulate with Psychological Line (PSY) Multiple Regression. Reference code is: 4637. Beta DRL value REG 15 Rational Demand Factor LD 3965.0604000000003. In our assessment of a company's liquidity, we also consider the impact of unique industry characteristics. Credit Rating AI Process rely on primary sources of information: Sec Filings, Financial Statements, Credit Ratings, Semantic Signals. Take a look at Machine Learning section for Financial Deep Reinforcement Learning.

BOSTON (AI Credit Rating Terminal) Fri May 01 2020 09:35:01 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Rating Action Overview We downgraded KKR Financial Holdings LLC 7.50% Senior Notes due 2042 because market risk charges capture the risk of loss on trading portfolio at a one-year horizon and a 99.9% confidence level. We use econometric methods for period (n+30) simulate with Parabolic SAR (PSAR) Beta. Reference code is: 4438. Beta DRL value REG 39 Rational Demand Factor LD 3965.0604000000003. 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 expect companies to be able to cover the full amount of dividends and share rep

Our stable outlook on Cotswold Company Rating reflects our view of its highly recurring revenue resulting from its SaaS business model, and our expectation that the company will continue to grow its revenue base while modestly improving its EBITDA margins over the next 24 months. We expect minimal integration risk as there are no material headcount reduction plans; risk is mainly isolated to integrating back-office systems.

We think that the severity of the funding shortfall in the pension fund, along with Insurance Company Collingwood, ON's compromised ability to handle higher pension costs amid a deep recession and just as these costs have become more urgent to fund insolvency, mark a turn in the district's credit trajectory that we think is significant enough to warrant the lower rating. The downgrade is also informed by our expectation that the COVID-19 pandemic and state and local social distancing measures taken in response will have a material effect on fiscal 2020 operating performance and could lead to a large draw on operating reserves, particularly if facility and event closures are extended well into the year. And, finally, we expect that the ongoing recessionary fallout could continue to pressure revenue performance going into the next fiscal year, creating some potential for deterioration in CPD's reserves position even beyond fiscal 2020.

Our stable outlook on Insurance Company Alliston, ON reflects our view of its highly recurring revenue resulting from its SaaS business model , and our expectation that the company will continue to grow its revenue base while modestly improving its EBITDA margins over the next 24 months. We expect minimal integration risk as there are no material headcount reduction plans; risk is mainly isolated to integrating back-office systems.

We are affirming our 'B' issue-level rating on the first-lien may premium bond and ns&i premium bond; the '2' recovery rating is unchanged. The existing privately placed second-lien premium bond may 2020 remains unrated. We are affirming our 'B-' issuer credit rating on Premium Bond winners revenue.

BOSTON (AI Credit Rating Terminal) Fri May 01 2020 09:20:01 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Rating Action Overview We downgraded VALIRX PLC deduct revaluation reserves. We use econometric methods for period (n+30) simulate with Accumulation Distribution Line Independent T-Test. Reference code is: 2141. Beta DRL value REG 16 Rational Demand Factor LD 3965.0604000000003. Committed credit facilities. 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

We are lowering our long-term issuer and issue ratings by one notch to 'B+', removing them from CreditWatch with negative implications. The negative outlook reflects our view that harsh business conditions, with continued travel restrictions and social distancing measures globally, will result in a chance of at least one-in-three that the Florida Bail Bonds Rating will be unable to keep its financial base and liquidity at levels commensurate with the ratings for the next six months.

Degiro 's credit metrics are unlikely to recover quickly as we previously assumed, for interactive brokers We are lowering our long-term issuer and issue ratings by one notch to 'B+', removing them from CreditWatch with negative implications Degiro UK.

The JPMorgan Emerging Market Bond Index (EMBI) ratingis avg.set of three bond indices to track bonds in emerging markets operated by J P Morgan . The indices are the Emerging Markets Bond Index Plus, the Emerging Markets Bond Index Global and the Emerging Markets Bond Global Diversified Index

BOSTON (AI Credit Rating Terminal) Fri May 01 2020 09:05:54 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Rating Action Overview We downgraded Credit Suisse AG derivatives receivables represent more than 0.5% of total assets for entities reporting under U.S. GAAP. We use econometric methods for period (n+1) simulate with Royer Oscillators Lasso Regression. Reference code is: 3471. Beta DRL value REG 27 Rational Demand Factor LD 3965.0604000000003. 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, an underwriter agrees to buy any securities not taken up by existing holders). Credit Rating AI Process rely on primary sources of information: Sec F

CENTENNIAL (S&P Global Ratings) April 30, 2020--S&P Global Ratings revised its outlook to negative from stable and affirmed its 'BBB' long-term rating on Iowa Higher Education Loan Authority's series 2011 private college facility revenue refunding bonds, issued on behalf of University of Dubuque (UD). "The negative outlook reflects our view that the COVID-19 pandemic and related economic fallout could materially pressure the University of Dubuque's enrollment and financial profiles," said S&P Global Ratings credit analyst Amber Schafer. "While the university anticipates that its operating performance in the current fiscal year will not be affected, we believe its history of deficit operating performance offers little flexibility for unexpected enrollment pressure or weakened net tuition revenue," Ms. Schafer added. In addition, the university plans to increase its reliance on short-term borrowing by issuing a $10 million revenue anti

Australia-based Origin Energy Ltd. will acquire a 20% equity interest in U.K.-based energy retailer Octopus Energy (unrated) for £265 million, which will be funded from a mix of internal cash flows and debt. We believe that Origin Energy's financial metrics have sufficient buffer currently to absorb leverage related to the transaction. We are affirming our 'BBB' long-term and 'A-2' short-term issuer credit ratings on Origin Energy. We are also affirming the issue ratings at 'BBB'. The stable outlook on Origin Energy reflects the company's strong market position as one of the three largest integrated utilities in Australia and our expectation that Origin Energy will sustain a debt-to-EBITDA ratio of less than 3.0x over the next two to three years. SYDNEY (S&P Global Ratings) May 1, 2020—S&P Global Ratings today took the rating actions listed above. We affirmed the ratings on Origin Energy to reflect our view that the company has some buff

The Ultimate Software Group Inc., a human capital management solutions provider based in Weston, Fla., has merged with workforce management software provider Kronos Inc., both of which are portfolio companies of Hellman & Friedman, Blackstone, and other investors. We are affirming our 'B-' issuer credit rating on Ultimate. We are affirming our 'B' issue-level rating on the first-lien term loan; the '2' recovery rating is unchanged. The existing privately placed second-lien term loan remains unrated. Effective Apr. 1, 2020, Kronos has become a non-guarantor subsidiary of Ultimate. All our ratings on Kronos Inc. are unchanged. Our stable outlook on Ultimate reflects our view of its highly recurring revenue resulting from its SaaS business model (pro forma with Kronos), and our expectation that the company will continue to grow its revenue base while modestly improving its EBITDA margins over the next 24 months. We expect minimal integration risk as there

Virgin Australia Holdings Ltd.'s administrators have placed a moratorium on all creditor payments, including payments on the airline's debt. As a result, we consider that default is a virtual certainty on Virgin's next coupon payment for its US$425 million senior unsecured 2024 bond on May 15, 2020. On April 29, 2020, the company and certain affiliates filed petitions pursuant to Chapter 15 of the Bankruptcy Code in the U.S. with regard to the company's voluntary administration proceedings in Australia. We consider that the moratorium on creditor payments and the airline's bankruptcy petition constitute a default under our criteria. On May 1, 2020, S&P Global Ratings lowered its issuer credit rating on Virgin Australia to 'D' from 'CC', and lowered its related issue ratings on the airline's unsecured debt to 'D' from 'C'. MELBOURNE (S&P Global Ratings) May 1, 2020—S&P Global Ratings today took the rating actions

COVID-19 likely pulled Nissan Motor deep into the red in fiscal 2019: Harsh business conditions and expected restructuring costs have made a strong earnings recovery in fiscal 2020 less likely. In our view, pandemic effects could intensify or persist, causing a slow recovery in Nissan's business and financial performance to further weigh on its credit quality. We are lowering by one notch to 'BBB' our long-term credit ratings on Nissan Motor; our long- and short-term credit ratings on the company remain on CreditWatch with negative implications. We intend to resolve the CreditWatch placements after evaluating the outlook of its performance and financial health for the coming one to two years, based on pandemic conditions and the company's likely performance from fiscal 2020 onward. TOKYO (S&P Global Ratings) May 1, 2020--S&P Global Ratings today said it has lowered by one notch its 'BBB' long-term issuer credit ratings on Nissan Motor Co. Ltd. At

The COVID-19 pandemic is likely to continue exerting considerable pressure on the performance of gaming machine and casino company Universal Entertainment for the next six months. Universal Entertainment's credit metrics are unlikely to recover quickly as we previously assumed, given the extended lockdown in Manila and deteriorating outlook for its gaming machine business in Japan. We are lowering our long-term issuer and issue ratings by one notch to 'B+', removing them from CreditWatch with negative implications. The negative outlook reflects our view that harsh business conditions, with continued travel restrictions and social distancing measures globally, will result in a chance of at least one-in-three that the company will be unable to keep its financial base and liquidity at levels commensurate with the ratings for the next six months. TOKYO (S&P Global Ratings) May 1, 2020--S&P Global Ratings today said it has lowered its long-term issuer credit and i

SYDNEY (S&P Global Ratings) May 1, 2020--S&P Global Ratings said today that it has affirmed its 'BBB+/A-2' long-term and short-term issuer credit ratings, as well as issue credit ratings on Australian integrated oil refining and marketing operator Caltex Australia Ltd. We subsequently withdrew the ratings at the issuer's request. The outlook was negative at the time of the withdrawal and reflects our expectation that challenging industry conditions are likely to persist over the next 12 months at least and will test the effectiveness of Caltex's capital allocation framework.

BOSTON (AI Credit Rating Terminal) Fri May 01 2020 08:50:01 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Rating Action Overview We downgraded Capital Bank Financial Corp. because of business mix, revenue stability, market position, and customer base (confidence sensitivity of clients and other outside commercial parties). In situations where profitability has a material negative impact on market position, this may limit the assessment. We use econometric methods for period (n+1) simulate with Bollinger Bands Pearson Correlation. Reference code is: 3477. Beta DRL value REG 42 Rational Demand Factor LD 3965.0604000000003. For companies in more volatile sectors, we assess the resiliency of liquidity through a cycle. If we do not believe the resulting descriptor reflects sustainable liquidity characteristics, we could adjust our liquidity assessment downward. For example, we could lower our liquidity assessment on a volatile company to s

BOSTON (AI Credit Rating Terminal) Fri May 01 2020 08:35:02 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Rating Action Overview We downgraded Bridge Bancorp, Inc. bacause the bail-in of that type of liability would not provide any economic benefit to the resolution or would even destroy value. We use econometric methods for period (n+30) simulate with Royer Oscillators Polynomial Regression. Reference code is: 4961. Beta DRL value REG 36 Rational Demand Factor LD 3965.0604000000003. 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 high standing in the credit markets, and even low-investment-grade companies may not have access to a diversity of funding sources required for this assess

We believe U.S.-based water product, solution, and service provider Evoqua Water Technologies Corp. will face some demand and profit headwinds, particularly in its hydrocarbon, chemical, and marine end markets because of economic weakness resulting from the coronavirus pandemic. We anticipate organic revenue declines and modestly tighter margins will likely cause leverage to rise above 5x over the next 12 months. We are therefore revising the outlook on Evoqua and its subsidiary EWT Holdings III Corp. to stable from positive and affirming all ratings, including the 'B' issuer credit ratings on the companies. The recovery ratings are unchanged. The stable outlook on Evoqua reflects our expectation that its S&P Global Ratings-adjusted leverage will be in the 5x-6x range over the next 12 months amid a weak macroeconomic environment. CENTENNIAL (S&P Global Ratings) April 30, 2020—S&P Global Ratings today took the rating actions listed above. We forecast weaker de

Other expenses and losses c.rating table*

companies in the public utilities field  public : coal, electricity, natural gas, water, sewage, telephone, and transportation credit rating table*

The COVID-19 pandemic has exacerbated the province's already stressed fiscal profile and will push the operating deficit over 8% of operating revenues from 2% in 2019. A very gradual fiscal consolidation starting in 2021 would result in rising financing needs, amid limited access to the market and a fragile liquidity position. We're lowering our long-term rating on the Argentine province of Entre Rios to 'CCC' from 'B-'. The negative outlook reflects the complex economic dynamic in Argentina, which could erode provincial revenues more rapidly than expected and result in a liquidity crisis, putting at risk timely and in full debt service payment in the next 12 months. Rating Action BUENOS AIRES (S&P Global Ratings) April 30, 2020--S&P Global Ratings lowered its long-term issuer credit rating on the province of Entre Rios to 'CCC' from 'B-'. The outlook is negative. Outlook The negative outlook reflects our view that the provin