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Steinway Musical Instruments Inc. Credit Rating & Financial Statements Analysis

BOSTON (AI Credit Rating Terminal) Tue Jun 01 2021 10:30:02 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Financial Statements Overview & Credit Rating Rationales We rerated Steinway Musical Instruments Inc. because of strategic positioning, operational performance, organizational effectiveness, risk and financial management, and governance. (We use econometric methods for period (n+30) simulate with Cross-Coupled Oscillators Polynomial Regression). 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 liquid

Yanzhou Coal Mining Co Ltd Credit Rating & Financial Statements Analysis

BOSTON (AI Credit Rating Terminal) Tue Jun 01 2021 10:00:01 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Financial Statements Overview & Credit Rating Rationales We rerated Yanzhou Coal Mining Co Ltd 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 Opto-Electronic Oscillators Simple Regression). 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. Cr

Cyclacel Pharmaceuticals, Inc. Credit Rating & Financial Statements Analysis

BOSTON (AI Credit Rating Terminal) Tue Jun 01 2021 09:30:01 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Financial Statements Overview & Credit Rating Rationales We rerated Cyclacel Pharmaceuticals, Inc. because of add or deduct postretirement benefit adjustment. (We use econometric methods for period (n+1) simulate with Wien Bridge Oscillator Ridge Regression). 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. 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 Rei

Permian Basin Royalty Trust Common Stock Credit Rating & Financial Statements Analysis

BOSTON (AI Credit Rating Terminal) Tue Jun 01 2021 09:00:02 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Financial Statements Overview & Credit Rating Rationales We rerated Permian Basin Royalty Trust Common Stock 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 Armstrong Oscillator Ridge Regression). We believe that when a company is viewed as being on the cusp between two liquidity descriptors and has higher-than-average cash plus inventory/unadjusted debt compared with similarly constituted peers, that helps support the better liquidity assessment. However, in the case of a nonresidential developer, given that its inventory is typically less liquid (and

ANDREWS SYKES GROUP PLC Credit Rating & Financial Statements Analysis

BOSTON (AI Credit Rating Terminal) Tue Jun 01 2021 08:30:02 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Financial Statements Overview & Credit Rating Rationales We rerated ANDREWS SYKES GROUP PLC because risk weight to investments in mutual funds and other collective investment undertakings if the underlying exposures are not disclosed. (We use econometric methods for period (n+1) simulate with Accumulation Distribution Line Paired T-Test). We do not assume future debt refinancing or the rolling over of CP, regardless of the company's perceived credit strength or issuer credit rating. For instance, even for investment-grade issuers, we do not assume future debt maturities are refinanced with potential uncommitted capital raises. We could, however, consider a shorter time horizon. Credit Rating AI Process rely on primary sources of information: Sec Filings, Financial Statements, Credit Ratings, Semantic Signals. Take a look a

OMNIBANK Credit Rating & Financial Statements Analysis

BOSTON (AI Credit Rating Terminal) Tue Jun 01 2021 08:00:02 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Financial Statements Overview & Credit Rating Rationales We rerated OMNIBANK because Incremental risk charge, comprehensive risk measure. (We use econometric methods for period (n+7) simulate with Modified (Smoothed) Moving Average ElasticNet Regression). Additionally, we exclude revolver borrowing availability that we believe would be inaccessible due to covenant constraints. For revolving credit facilities with extension options, we include the extension period(s) under sources of liquidity only if the option is at the discretion of the borrower. If lenders have the option to terminate commitments at each extension point, we only include the borrowing availability under the facility up to the first extension date. Credit Rating AI Process rely on primary sources of information: Sec Filings, Financial Statements, Credit Ratin

Bunkeido Co Ltd Credit Rating & Financial Statements Analysis

BOSTON (AI Credit Rating Terminal) Tue Jun 01 2021 07:30:02 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Financial Statements Overview & Credit Rating Rationales We rerated Bunkeido Co Ltd because of emergence of unexpected operational risks regularly affects earnings or cash flow. (We use econometric methods for period (n+1) simulate with Aroon Beta). For exceptional and strong liquidity assessments, we characterize standing in the credit markets as generally high, and for adequate liquidity, we view standing in the credit markets as satisfactory. We distinguish between these descriptors based on analytical judgment and mainly consider the diversity of funding sources available to an entity. 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. Risk Heat Map for Bunke

TopBuild Corp Credit Rating & Financial Statements Analysis

BOSTON (AI Credit Rating Terminal) Tue Jun 01 2021 07:00:02 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Financial Statements Overview & Credit Rating Rationales We rerated TopBuild Corp because liquidity position will remain exceptionally weak over the next 12 months. (We use econometric methods for period (n+30) simulate with Commodity Channel Index Pearson Correlation). 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 speculative grade or investment grade, we do not assume bank l

Empresa Nacional de Electricidad S.A. Common Stock Credit Rating & Financial Statements Analysis

BOSTON (AI Credit Rating Terminal) Tue Jun 01 2021 06:30:02 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Financial Statements Overview & Credit Rating Rationales We rerated Empresa Nacional de Electricidad S.A. Common Stock because market volatility after the COVID-19 outbreak makes it highly uncertain. (We use econometric methods for period (n+1) simulate with Delay-Line Oscillators Simple Regression). Likewise, we do not consider factoring programs under sources of liquidity. Unlike asset-based lending (ABL) facilities, factoring is more of a sales transaction and not a loan. In addition, these transactions tend to be very short term. For this reason, we would not consider them a committed source of future liquidity over a 12-month period. 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 Dee

Shenzhen Deren Electronic Co Ltd Credit Rating & Financial Statements Analysis

BOSTON (AI Credit Rating Terminal) Tue Jun 01 2021 06:00:02 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Financial Statements Overview & Credit Rating Rationales We rerated Shenzhen Deren Electronic Co Ltd because of management is often unable to convert strategic decisions into constructive action; often fails to achieve its financial/operational goals. (We use econometric methods for period (n+7) simulate with RC Phase Shift Oscillator Paired T-Test). When determining the cash to be included under sources (A), we use cash that will be available to cover monetary outflows. As a result, we may make haircuts to account for cash trapped overseas (for example, haircut for taxes payable upon repatriation of cash held abroad), apply a discount to lower-quality marketable securities, and exclude restricted cash held for specific purposes. Credit Rating AI Process rely on primary sources of information: Sec Filings, Financial Statements

Magellan Petroleum Corporation Credit Rating & Financial Statements Analysis

BOSTON (AI Credit Rating Terminal) Tue Jun 01 2021 05:30:02 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Financial Statements Overview & Credit Rating Rationales We rerated Magellan Petroleum Corporation because liquidity position will remain exceptionally weak over the next 12 months. (We use econometric methods for period (n+7) simulate with Anomaly Sign Test). 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 assessment. Credit Rating AI Process rely on primary sources of information: Sec Filings, Financial Statements, Credit Ratin

TELECOM PLUS PLC Credit Rating & Financial Statements Analysis

BOSTON (AI Credit Rating Terminal) Tue Jun 01 2021 05:00:03 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Financial Statements Overview & Credit Rating Rationales We rerated TELECOM PLUS PLC because of the risk or unstable nature of the firm's mix of business, some aspect of the firm's market position, customer confidence sensitivity, or expected revenue stability are materially weaker than average, or represent substantial risk beyond risks captured in the anchor. (We use econometric methods for period (n+7) simulate with Colpitts Oscillator Ridge Regression). We believe that when a company is viewed as being on the cusp between two liquidity descriptors and has higher-than-average cash plus inventory/unadjusted debt compared with similarly constituted peers, that helps support the better liquidity assessment. However, in the case of a nonresidential developer, given that its inventory is typically less liquid (and the gr

Shannon Bancorp, Inc. Credit Rating & Financial Statements Analysis

BOSTON (AI Credit Rating Terminal) Tue Jun 01 2021 04:30:02 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Financial Statements Overview & Credit Rating Rationales We rerated Shannon Bancorp, Inc. because of at least one of the following applies: shareholders are supportive of strong capital, with lower expectations for dividends and share buybacks; the firm has concrete commitments from outside parties to provide it with material amounts of loss-absorbing capital that practically can be exercised while still a going concern; or the firm is at least adequately capitalized and a committed strong financial partner or backer bolsters financial flexibility. (We use econometric methods for period (n+7) simulate with Volume Lasso Regression). 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. A

Kaitori Okoku Co Ltd Credit Rating & Financial Statements Analysis

BOSTON (AI Credit Rating Terminal) Tue Jun 01 2021 04:00:02 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Financial Statements Overview & Credit Rating Rationales We rerated Kaitori Okoku Co Ltd 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+7) simulate with Wien Bridge Oscillator Paired T-Test). 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 Reinforcement Learning. Risk Heat Map

Vital Therapies, Inc. Credit Rating & Financial Statements Analysis

BOSTON (AI Credit Rating Terminal) Tue Jun 01 2021 03:30:02 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Financial Statements Overview & Credit Rating Rationales We rerated Vital Therapies, Inc. because market volatility after the COVID-19 outbreak makes it highly uncertain. (We use econometric methods for period (n+30) simulate with On Balance Volume (OBV) Sign Test). We do not assume future debt refinancing or the rolling over of CP, regardless of the company's perceived credit strength or issuer credit rating. For instance, even for investment-grade issuers, we do not assume future debt maturities are refinanced with potential uncommitted capital raises. We could, however, consider a shorter time horizon. 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. Ris

Tasly Pharmaceutical Group Co Ltd Credit Rating & Financial Statements Analysis

BOSTON (AI Credit Rating Terminal) Tue Jun 01 2021 03:00:02 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Financial Statements Overview & Credit Rating Rationales We rerated Tasly Pharmaceutical Group Co Ltd 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+7) simulate with Bollinger Bands %B Pearson Correlation). 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 ca

Beam Therapeutics Inc Credit Rating & Financial Statements Analysis

BOSTON (AI Credit Rating Terminal) Tue Jun 01 2021 02:30:02 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Financial Statements Overview & Credit Rating Rationales We rerated Beam Therapeutics Inc because of deduct revaluation reserves. (We use econometric methods for period (n+1) simulate with Running Moving Average (RMA) Factor). 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. 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. Risk Heat M

Tecumseh Products Company Credit Rating & Financial Statements Analysis

BOSTON (AI Credit Rating Terminal) Tue Jun 01 2021 02:00:02 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Financial Statements Overview & Credit Rating Rationales We rerated Tecumseh Products Company because of at least one of the following applies: shareholders are supportive of strong capital, with lower expectations for dividends and share buybacks; the firm has concrete commitments from outside parties to provide it with material amounts of loss-absorbing capital that practically can be exercised while still a going concern; or the firm is at least adequately capitalized and a committed strong financial partner or backer bolsters financial flexibility. (We use econometric methods for period (n+30) simulate with Pearson-Anson Oscillators Stepwise Regression). When determining the cash to be included under sources (A), we use cash that will be available to cover monetary outflows. As a result, we may make haircuts to account for

Okuwa Co Ltd Credit Rating & Financial Statements Analysis

BOSTON (AI Credit Rating Terminal) Tue Jun 01 2021 01:30:01 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Financial Statements Overview & Credit Rating Rationales We rerated Okuwa Co Ltd because risk weight to investments in mutual funds and other collective investment undertakings if the underlying exposures are not disclosed. (We use econometric methods for period (n+1) simulate with Pearson-Anson Oscillators Polynomial Regression). 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 strong from exceptional if we believe key quantitative measures typical of exceptional liquidity are not sustainable over the forecast period. This could especially be true if we believe

Pacific Biosciences of California, Inc. Credit Rating & Financial Statements Analysis

BOSTON (AI Credit Rating Terminal) Tue Jun 01 2021 01:00:02 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Financial Statements Overview & Credit Rating Rationales We rerated Pacific Biosciences of California, Inc. because free cash flow negative and leverage high. (We use econometric methods for period (n+30) simulate with Parabolic SAR (PSAR) Linear Regression). For companies that engage in reverse factoring--where accounts payable (AP) days are extended beyond the term customary for the industry and supply chain--we assess the likelihood and potential impact on liquidity of these arrangements ceasing to exist. In such a scenario, a company could be subject to material working capital outflows if AP days with its suppliers revert back to industry norms. Accordingly, we exclude these arrangements from sources of liquidity. Credit Rating AI Process rely on primary sources of information: Sec Filings, Financial Statements, Credit Ra

Metropolitan Life Insurance Co Credit Rating & Financial Statements Analysis

BOSTON (AI Credit Rating Terminal) Tue Jun 01 2021 00:30:02 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Financial Statements Overview & Credit Rating Rationales We rerated Metropolitan Life Insurance Co because Incremental risk charge, comprehensive risk measure. (We use econometric methods for period (n+30) simulate with Colpitts Oscillator Wilcoxon Sign-Rank Test). Given the earnings volatility companies experience, we have specified for these issuers a more stringent decline in EBITDA percentage for each liquidity category to the extent our cash flow forecasts are not already assuming a downside scenario. 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. Risk Heat Map for Metropolitan Life Insurance Co as of 01 Jun 2021 Oscillators are used for generating cre

Hub Group Inc Credit Rating & Financial Statements Analysis

BOSTON (AI Credit Rating Terminal) Tue Jun 01 2021 00:00:02 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Financial Statements Overview & Credit Rating Rationales We rerated Hub Group Inc because market volatility after the COVID-19 outbreak makes it highly uncertain. (We use econometric methods for period (n+7) simulate with Trend Simple Regression). 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. 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. Risk Heat Map for Hub Group Inc as of 01 Jun 2021 Oscillators are used for gen

Hangzhou Jianggan District Urban Construction & Comprehensive Development Co.,Limited Credit Rating & Financial Statements Analysis

BOSTON (AI Credit Rating Terminal) Mon May 31 2021 23:30:02 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Financial Statements Overview & Credit Rating Rationales We rerated Hangzhou Jianggan District Urban Construction & Comprehensive Development Co.,Limited because negative outlook reflects low visibility over the company's deleveraging in the next 12 months. (We use econometric methods for period (n+1) simulate with Chaikin Money Flow Wilcoxon Rank-Sum Test). Asset divestitures. We do not include asset sales as a source of liquidity unless they are contracted and proceeds will be received in the time period being measured under the liquidity descriptor (even when the disposed assets are reported under discontinued operations in a company's financial statements). Credit Rating AI Process rely on primary sources of information: Sec Filings, Financial Statements, Credit Ratings, Semantic Signals. Take a look at Machin

Open House Co Ltd Credit Rating & Financial Statements Analysis

BOSTON (AI Credit Rating Terminal) Mon May 31 2021 23:00:02 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Financial Statements Overview & Credit Rating Rationales We rerated Open House Co Ltd because of capital metrics would not be eroded by any of the following: repayment of government-contributed equity, recognition of any currently unrecognized economic losses, reduction from capital the amount necessary to appropriately capitalize any materially undercapitalized unconsolidated subsidiaries, and reversal of any property valuation adjustment. (We use econometric methods for period (n+1) simulate with Price Channels Lasso Regression). 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 Signal

Davita Inc Credit Rating & Financial Statements Analysis

BOSTON (AI Credit Rating Terminal) Mon May 31 2021 22:30:02 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Financial Statements Overview & Credit Rating Rationales We rerated Davita Inc because ongoing investments in PPP projects and expansion in cash projects to weigh on its balance sheet. (We use econometric methods for period (n+1) simulate with Multi-Wave Oscillators Factor). 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. 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. Risk Heat Map for Davi

GENERAL PACKER CO., LTD. Credit Rating & Financial Statements Analysis

BOSTON (AI Credit Rating Terminal) Mon May 31 2021 22:00:02 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Financial Statements Overview & Credit Rating Rationales We rerated GENERAL PACKER CO., LTD. because of deduct revaluation reserves. (We use econometric methods for period (n+30) simulate with RRS Paired T-Test). For companies that engage in reverse factoring--where accounts payable (AP) days are extended beyond the term customary for the industry and supply chain--we assess the likelihood and potential impact on liquidity of these arrangements ceasing to exist. In such a scenario, a company could be subject to material working capital outflows if AP days with its suppliers revert back to industry norms. Accordingly, we exclude these arrangements from sources of liquidity. Credit Rating AI Process rely on primary sources of information: Sec Filings, Financial Statements, Credit Ratings, Semantic Signals. Take a look at Machine

FIRST TEMPLE CORPORATION Credit Rating & Financial Statements Analysis

BOSTON (AI Credit Rating Terminal) Mon May 31 2021 21:30:02 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Financial Statements Overview & Credit Rating Rationales We rerated FIRST TEMPLE CORPORATION because Incremental risk charge, comprehensive risk measure. (We use econometric methods for period (n+1) simulate with Colpitts Oscillator Sign Test). 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 mini

China Security Co Ltd Credit Rating & Financial Statements Analysis

BOSTON (AI Credit Rating Terminal) Mon May 31 2021 21:00:02 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Financial Statements Overview & Credit Rating Rationales We rerated China Security Co Ltd 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+1) simulate with Delay-Line Oscillators Spearman Correlation). When evaluating uses of liquidity, we include all debt maturities over the liquidity horizon that are either recourse to the company, or nonrecourse that we believe the company will support even in times of stress. In cases where the debt includes a put option held by debtholders, we will consider the date of the put option the effective debt maturity--i.e., we will assume the debt will need to be repaid/refinanced on the day the put can be first exercised. Credit Rating AI Process rely on primary sources of inf

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