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 Gunn Oscillator and Paired T-Test. Machine Learning based stock forecast (n+1y) for TGI Triumph Group as below: TGI Triumph Group Stock Forecast (Buy or Sell) as of 01 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 % NYSE:TGI Stock Forecast Rationales & Estimation Model Time series to forecast n: 01 Dec 2021 for (n+1y) 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 rever

BOSTON (AC Invest Credit Rating Terminal) Wed Dec 01 2021 10:55:03 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Credit Rating Rationales & Model 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. Rating Model for Rocket Pharmaceuticals Inc: We estimate the credit risk parameters by Crystal Oscillators and Spearman Correlation Credit Ratings for Rocket Pharmaceuticals Inc as of 01 Dec 2021 Credit Rating Short-Term Long-Term Senior AI Rating Class* B1 Ba2 Semantic Signals 78 89 Financial Signals 30 36 Risk

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 Wilcoxon Rank-Sum Test. Machine Learning based stock forecast (n+3m) for ASND Ascendis Pharma A/S as below: ASND Ascendis Pharma A/S Stock Forecast (Buy or Sell) as of 01 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:ASND Stock Forecast Rationales & Estimation Model Time series to forecast n: 01 Dec 2021 for (n+3m) 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

BOSTON (AC Invest Credit Rating Terminal) Wed Dec 01 2021 10:25:03 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Credit Rating Rationales & Model 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. Rating Model for Shanghai SK Petrlm & Chemcl Eqp Corp Ltd: We estimate the credit risk parameters by Stochastic Oscillator and Wilcoxon Sign-Rank Test Credit Ratings for Shanghai SK Petrlm & Chemcl Eqp Corp Ltd as of 01 Dec 2021 Credit Rating Short-Term Long-Term Senior AI Rating Class* B2 B1 Semantic Signals 64 76 Financial Signals 44 36 Risk Signals 62 72 Substantial Risks 41 56 Speculative Signals 70 60 *Machine Learning utilizes mult

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 Expectation and ElasticNet Regression. Machine Learning based stock forecast (n+30) for PGHL Procter & Gamble Health Limited as below: PGHL Procter & Gamble Health Limited Stock Forecast (Buy or Sell) as of 01 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:PGHL Stock Forecast Rationales & Estimation Model Time series to forecast n: 01 Dec 2021 for (n+30) In this scenario, we would still include the existing debt maturity as a use of liquidity in our A/B and A-B calculations, if the debt matures within the corresponding liquidity horizon. The rationale is that our liquidity assessment is essentially a stress test against a sudden and severe loss of capital markets access a

BOSTON (AC Invest Credit Rating Terminal) Wed Dec 01 2021 09:55:02 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Credit Rating Rationales & Model 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. Rating Model for STATE BANK OF HERSCHER: We estimate the credit risk parameters by Volume + Moving Average and Independent T-Test Credit Ratings for STATE BANK OF HERSCHER as of 01 Dec 2021 Credit Rating Short-Term Long-Term Senior AI Rating Class* Ba2 B2 Semantic Signals 82 85 Financial Signals 66 65 Risk Si

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 Price and Factor. Machine Learning based stock forecast (n+3m) for CENTRALBK Central Bank of India as below: CENTRALBK Central Bank of India Stock Forecast (Buy or Sell) as of 01 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:CENTRALBK Stock Forecast Rationales & Estimation Model Time series to forecast n: 01 Dec 2021 for (n+3m) 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. We estimate CENTRALBK Central Bank of India stock forecast parame

BOSTON (AC Invest Credit Rating Terminal) Wed Dec 01 2021 09:25:03 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Credit Rating Rationales & Model 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. Rating Model for STATE BANK OF WYNNEWOOD: We estimate the credit risk parameters by Armstrong Oscillator and Simple Regression Credit Ratings for STATE BANK OF WYNNEWOOD as of 01 Dec 2021 Credit Rating Short-Term Long-Term Senior AI Rating Class* Ba1 B1 Semantic Signals 74 39 Financial Signals 71 51 Risk Signals 52 84 Substantial Risks 72 55 Speculative Signals 82 75

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 Williams %R and Beta. Machine Learning based stock forecast (n+6m) for GLOBUSSPR Globus Spirits Limited as below: GLOBUSSPR Globus Spirits Limited Stock Forecast (Buy or Sell) as of 01 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:GLOBUSSPR Stock Forecast Rationales & Estimation Model Time series to forecast n: 01 Dec 2021 for (n+6m) 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. We estimate GLOBUSSPR Globus Spirits Limited stock forecast parameters by: Williams %R with Beta

BOSTON (AC Invest Credit Rating Terminal) Wed Dec 01 2021 08:55:03 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Credit Rating Rationales & Model 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 there is a higher prospect of ratios weakening from the peak of an economic cycle. Rating Model for MEDNAX Inc: We estimate the credit risk parameters by Directional Movement Indicator and Stepwise Regression Credit Ratings for MEDNAX Inc as of 01 Dec 2021 Credit Rating Short-Te

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 Simple Moving Average (SMA) and Pearson Correlation. Machine Learning based stock forecast (n+15) for MIRCELECTR MIRC Electronics Limited as below: MIRCELECTR MIRC Electronics Limited Stock Forecast (Buy or Sell) as of 01 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 % NSE:MIRCELECTR Stock Forecast Rationales & Estimation Model Time series to forecast n: 01 Dec 2021 for (n+15) For these reasons, although the criteria establish no rating threshold for liquidity, we typically expect: Instances of 'B+' and below rated issuers achieving liquidity descriptors higher than adequate to be rare and Few companies to qualify for the exceptional category, and these entities to typically

BOSTON (AC Invest Credit Rating Terminal) Wed Dec 01 2021 08:25:03 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Credit Rating Rationales & Model In this scenario, we would still include the existing debt maturity as a use of liquidity in our A/B and A-B calculations, if the debt matures within the corresponding liquidity horizon. The rationale is that our liquidity assessment is essentially a stress test against a sudden and severe loss of capital markets access availability. For companies with an anchor of at least 'bbb-' that meet certain characteristics, as outlined in paragraphs 38 and 39 of the criteria, we may use a shorter three- to six-month time horizon when assessing upcoming maturities. Rating Model for Hunter Maritime Acquisition Corp: We estimate the credit risk parameters by Momentum and ElasticNet Regression Credit Ratings for Hunter Maritime Acquisition Corp as of 01 Dec 2021 Credit Rating Sh

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 Momentum and ElasticNet Regression. Machine Learning based stock forecast (n+1y) for DHF Dreyfus High Yield Strategies Fund as below: DHF Dreyfus High Yield Strategies Fund Stock Forecast (Buy or Sell) as of 01 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 % NYSE:DHF Stock Forecast Rationales & Estimation Model Time series to forecast n: 01 Dec 2021 for (n+1y) In our assessment of a company's liquidity, we also consider the impact of unique industry characteristics. We estimate DHF Dreyfus High Yield Strategies Fund stock forecast parameters by: Momentum with ElasticNet Regression

BOSTON (AC Invest Credit Rating Terminal) Wed Dec 01 2021 07:55:03 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Credit Rating Rationales & Model 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. Rating Model for Lincoln Federal Savings Bank of Nebraska: We estimate the credit risk parameters by Pearson-Anson Oscillators and Factor Credit Ratings for Lincoln Federal Savings Bank of Nebraska as of 01 Dec 2021 Credit Rating Short-Term Long-Term Senior AI Rating Class* B1 B1 S

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 Tuned Collector Oscillator and ElasticNet Regression. Machine Learning based stock forecast (n+30) for ANP ANPARIO PLC as below: ANP ANPARIO PLC Stock Forecast (Buy or Sell) as of 01 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 % LON:ANP Stock Forecast Rationales & Estimation Model Time series to forecast n: 01 Dec 2021 for (n+30) 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 gen

BOSTON (AC Invest Credit Rating Terminal) Wed Dec 01 2021 07:25:02 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Credit Rating Rationales & Model Given that it can be difficult to identify outstanding CP at any point in time, when considering coverage, we may include our expectations for peak outstanding CP during the year as opposed to CP balances as of the last filing date, especially if we believe reported balances are not reflective of typical borrowing patterns. Rating Model for W. R. Grace & Co.- Conn.: We estimate the credit risk parameters by Opto-Electronic Oscillators and Sign Test Credit Ratings for W. R. Grace & Co.- Conn. as of 01 Dec 2021 Credit Rating Short-Term Long-Term Senior AI Rating Class* Ba2 B1 Semantic Signals 51 73 Financial Signals 82 34 Risk Signals 69 55 Substantial Risks 64 52 Speculative Signals 73 88 *Machine Learning utilizes multiple learning algorithms to obtain

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 Meissner Oscillators and Ridge Regression. Machine Learning based stock forecast (n+6m) for LIVN LivaNova PLC as below: LIVN LivaNova PLC Stock Forecast (Buy or Sell) as of 01 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 % NASDAQ:LIVN Stock Forecast Rationales & Estimation Model Time series to forecast n: 01 Dec 2021 for (n+6m) 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--regar

BOSTON (AC Invest Credit Rating Terminal) Wed Dec 01 2021 06:55:03 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Credit Rating Rationales & Model 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). Rating Model for NB GLOBAL FLOATING RATE INCOME FUND LIMITED: We estimate the credit risk parameters by Tuned Collector Oscillator and Polynomial Regression Credit Ratings for NB GLOBAL FLOATING RATE INCOME FUND LIMITED as of 01 Dec 2021 Credit Rating Short-Term Long-Term Senior AI Rating Class* B3 Ba3 Semantic Signals 59 63 Financial Signals 39 35 Risk Signals 68 52 Substantial Risks 30 79 Speculative Signals 58 84 *Machine Learning utilizes multiple l

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 Sign Test. Machine Learning based stock forecast (n+3m) for DLTR Dollar Tree as below: DLTR Dollar Tree Stock Forecast (Buy or Sell) as of 01 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:DLTR Stock Forecast Rationales & Estimation Model Time series to forecast n: 01 Dec 2021 for (n+3m) 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. We estimate DLTR Dollar Tree stock forecast parameters by: Commodity Channel Ind

BOSTON (AC Invest Credit Rating Terminal) Wed Dec 01 2021 06:25:02 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Credit Rating Rationales & Model In our assessment of a company's liquidity, we also consider the impact of unique industry characteristics. Rating Model for Manhattan Scientifics Inc.: We estimate the credit risk parameters by Rank Correlation Index (RCI) and Chi-Square Credit Ratings for Manhattan Scientifics Inc. as of 01 Dec 2021 Credit Rating Short-Term Long-Term Senior AI Rating Class* Ba3 Ba2 Semantic Signals 84 74 Financial Signals 79 62 Risk Signals 38 76 Substantial Risks 49 89 Speculative Signals 68 32 *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 Machines.

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 Penetration and Logistic Regression. Machine Learning based stock forecast (n+30) for PXI Invesco DWA Energy Momentum ETF as below: PXI Invesco DWA Energy Momentum ETF Stock Forecast (Buy or Sell) as of 01 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 % NASDAQ:PXI Stock Forecast Rationales & Estimation Model Time series to forecast n: 01 Dec 2021 for (n+30) When assessing strong or exceptional liquidity, we include all forecasted capital expenditures over the next 24 months, including discretionary growth capital spending. We estimate PXI Invesco DWA Energy Momentum ETF stock forecast parameters by: Penetration with Logistic Regression

BOSTON (AC Invest Credit Rating Terminal) Wed Dec 01 2021 05:55:03 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 Nuveen Quality Income Municipal Fund, Inc. Common Stock: We estimate the credit risk parameters by Aroon and Simple Regression Credit Ratings for Nuveen Quality Income Municipal Fund, Inc. Common Stock as of 01 Dec 2021 Cre

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 Meissner Oscillators and Independent T-Test. Machine Learning based stock forecast (n+1y) for NAH NAHL GROUP PLC as below: NAH NAHL GROUP PLC Stock Forecast (Buy or Sell) as of 01 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 % LON:NAH Stock Forecast Rationales & Estimation Model Time series to forecast n: 01 Dec 2021 for (n+1y) 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 ext

BOSTON (AC Invest Credit Rating Terminal) Wed Dec 01 2021 05:25:02 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Credit Rating Rationales & Model 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. Rating Model for Wabash Valley Power Association, Inc.: We estimate the credit risk parameters by Hartley Oscillator and Linear Regression Credit Ratings for Wabash Valley Power Association, Inc. as of 01 Dec 2021 Credit Rating Short-Term Long-Term Senior AI Rating Class* Ba3 B1 Semantic Signals 49 43 Financial Signals 73 77 Risk Signals 40 73 Substantial Risks 78 43 Speculative Signals 87 61 *Machine Learning utilizes multiple learning algorithms to obtain better predictive powers. In our research, we utilize machine learning to combine the 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 Ratiocator (RAT) and Stepwise Regression. Machine Learning based stock forecast (n+7) for HICL HICL INFRASTRUCTURE PLC as below: HICL HICL INFRASTRUCTURE PLC Stock Forecast (Buy or Sell) as of 01 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:HICL Stock Forecast Rationales & Estimation Model Time series to forecast n: 01 Dec 2021 for (n+7) When assessing strong or exceptional liquidity, we include all forecasted capital expenditures over the next 24 months, including discretionary growth capital spending. We estimate HICL HICL INFRASTRUCTURE PLC stock forecast parameters by: Ratiocator (RAT) with Stepwise Regression

BOSTON (AC Invest Credit Rating Terminal) Wed Dec 01 2021 04:55:02 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Credit Rating Rationales & Model 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). Rating Model for Montreign Operating Company, LLC: We estimate the credit risk parameters by Meissner Oscillators and Spearman Correlation Credit Ratings for Montreign Operating Company, LLC as of 01 Dec 2021 Credit Rating Short-Term Long-Term Senior AI Rating Class* Ba3 Ba3 Semantic Signals 65 80 Financial Signals 55 79 Risk Signals 70 60 Substantial Risks 86 64 Speculative Signals 56 34 *Machine Learning utilizes multiple learning algorithms to obtain

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 Bollinger Bands %B and Wilcoxon Rank-Sum Test. Machine Learning based stock forecast (n+30) for AAVC ALBION VENTURE CAPITAL TST PLC as below: AAVC ALBION VENTURE CAPITAL TST PLC Stock Forecast (Buy or Sell) as of 01 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 % LON:AAVC Stock Forecast Rationales & Estimation Model Time series to forecast n: 01 Dec 2021 for (n+30) To assess forecasted working capital outflows for companies with material intra-year working capital requirements (for example, companies in seasonal businesses), we use forecasted peak working capital outflows, per paragraph 32 of the liquidity criteria. For seasonal businesses, in many cases the annual projection might in

BOSTON (AC Invest Credit Rating Terminal) Wed Dec 01 2021 04:25:02 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Credit Rating Rationales & Model 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 repurchases included in our base-case forecast, while still maintaining excess liquidity and achieving the required A/B and A-B measures under a stress case. Rating Model for Kaixin Auto Holdings: We estimate the credit risk parameters by SMoothed Moving Average (SMMA) and Wilcoxon Sign-Rank Test Credit Ratings for Kaixin Auto Holdings as of 01 Dec 202

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 Rank Correlation Index (RCI) and Factor. Machine Learning based stock forecast (n+1y) for BBW Build as below: BBW Build Stock Forecast (Buy or Sell) as of 01 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 % NYSE:BBW Stock Forecast Rationales & Estimation Model Time series to forecast n: 01 Dec 2021 for (n+1y) 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

BOSTON (AC Invest Credit Rating Terminal) Wed Dec 01 2021 03:55:02 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Credit Rating Rationales & Model For these reasons, although the criteria establish no rating threshold for liquidity, we typically expect: Instances of 'B+' and below rated issuers achieving liquidity descriptors higher than adequate to be rare and Few companies to qualify for the exceptional category, and these entities to typically have issuer credit ratings of 'BBB-' or above. Rating Model for Quest Patent Research Corp: We estimate the credit risk parameters by Ratiocator (RAT) and Independent T-Test Credit Ratings for Quest Patent Research Corp as of 01 Dec 2021 Credit Rating Short-Term Long-Term Senior AI Rating Class* B3 Ba3 Semantic Signals 44 47 Financial Signals 47 70 Risk Signals 34 47 Substantial Risks 34 66 Speculative Signals 76 87 *Machine Learning utilizes mu

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 Williams %R and Beta. Machine Learning based stock forecast (n+30) for PAAC Proficient Alpha Acquisition Corp. as below: PAAC Proficient Alpha Acquisition Corp. Stock Forecast (Buy or Sell) as of 01 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 % NASDAQ:PAAC Stock Forecast Rationales & Estimation Model Time series to forecast n: 01 Dec 2021 for (n+30) For these reasons, although the criteria establish no rating threshold for liquidity, we typically expect: Instances of 'B+' and below rated issuers achieving liquidity descriptors higher than adequate to be rare and Few companies to qualify for the exceptional category, and these entities to typically have issuer credit rating

BOSTON (AC Invest Credit Rating Terminal) Wed Dec 01 2021 03:25:02 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 Approach Resources Inc.: We estimate the credit risk parameters by SMoothed Moving Average (SMMA) and Stepwise Regression Credit Ratings for Approach Resources Inc. as of 01 Dec 2021 Credit Rating Short-Term Long-Term Senior AI Rating Class* B1 B2 Semantic Signals 83 52 Financial Signals 33 52 Risk Signals 47 44 Substantial Risks 70 52 Speculative Signals 80 65 *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 Machines.

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 Dynatron Oscillators and ElasticNet Regression. Machine Learning based stock forecast (n+30) for ZIOP ZIOPHARM Oncology Inc as below: ZIOP ZIOPHARM Oncology Inc Stock Forecast (Buy or Sell) as of 01 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 % NASDAQ:ZIOP Stock Forecast Rationales & Estimation Model Time series to forecast n: 01 Dec 2021 for (n+30) For these reasons, although the criteria establish no rating threshold for liquidity, we typically expect: Instances of 'B+' and below rated issuers achieving liquidity descriptors higher than adequate to be rare and Few companies to qualify for the exceptional category, and these entities to typically have issuer credit rating

BOSTON (AC Invest Credit Rating Terminal) Wed Dec 01 2021 02:55:02 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 Nuveen Municipal Value Fund, Inc. Common Stock: We estimate the credit risk parameters by EMR and Simple Regression Credit Ratings for Nuveen Municipal Value Fund

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 OCL and Logistic Regression. Machine Learning based stock forecast (n+15) for CLI Mack as below: CLI Mack Stock Forecast (Buy or Sell) as of 01 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 % NYSE:CLI Stock Forecast Rationales & Estimation Model Time series to forecast n: 01 Dec 2021 for (n+15) 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. We estimate CLI Mack stock forecast parameters by: OCL with Logistic Regression

BOSTON (AC Invest Credit Rating Terminal) Wed Dec 01 2021 02:25:03 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Credit Rating Rationales & Model 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. Rating Model for Google Inc.: We estimate the credit risk parameters by Pierce Oscillators and Lasso Regression Credit Ratings for Google Inc. as of 01 Dec 2021 Credit Rating Short-Term Long-Term Senior AI Rating Class* B3 Ba3 Semantic Signals 39 38 Financial Signals 36 57 Risk Signals 36 75 Substantial Risks 58 82 Speculative Signals 86 76 *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 Networ

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 Meissner Oscillators and Logistic Regression. Machine Learning based stock forecast (n+3m) for ZGNX Zogenix as below: ZGNX Zogenix Stock Forecast (Buy or Sell) as of 01 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:ZGNX Stock Forecast Rationales & Estimation Model Time series to forecast n: 01 Dec 2021 for (n+3m) Other factors we consider include a company's frequency of debt issuance and market access, especially during times of company-specific stress or credit market turbulence. We estimate ZGNX Zogenix stock forecast parameters by: Meissner Oscillators with Logistic Regression

BOSTON (AC Invest Credit Rating Terminal) Wed Dec 01 2021 01:55:02 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Credit Rating Rationales & Model 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 to preserve liquidity in past downturns. Rating Model for RINKO CORPORATION: We estimate the credit risk parameters by RC Phase Shift Oscillator and Stepwise Regression Credit Ratings for RINKO CORPORATION as of 01 Dec 2021 Credit Rating Short-Term Long-Term Senior AI Rating Class* B2 Ba3 Semantic Signals 45 35 Financial Signals 51 88 Risk Signals 54 62 Substantial Risks 74 47 Speculative Signals 36 82 *Machine Learning utilizes multiple learn

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 OCL and Lasso Regression. Machine Learning based stock forecast (n+7) for HAPP Happiness Biotech Group Limited as below: HAPP Happiness Biotech Group Limited Stock Forecast (Buy or Sell) as of 01 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 % NASDAQ:HAPP Stock Forecast Rationales & Estimation Model Time series to forecast n: 01 Dec 2021 for (n+7) 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 exampl

BOSTON (AC Invest Credit Rating Terminal) Wed Dec 01 2021 01:25:02 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Credit Rating Rationales & Model To assess forecasted working capital outflows for companies with material intra-year working capital requirements (for example, companies in seasonal businesses), we use forecasted peak working capital outflows, per paragraph 32 of the liquidity criteria. For seasonal businesses, in many cases the annual projection might indicate a working capital inflow or neutral working capital, even though there could be material intra-quarter or inter-quarter outflows throughout the year. Rating Model for Momentive Performance Materials Inc: We estimate the credit risk parameters by Meissner Oscillators and Multiple Regression Credit Ratings for Momentive Performance Materials Inc as of 01 Dec 2021 Credit Rating Short-Term Long-Term Senior AI Rating Class* Ba3 Ba2 Semantic Signa

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 Relative Strength Index (RSI) and Multiple Regression. Machine Learning based stock forecast (n+30) for SBIN State Bank of India as below: SBIN State Bank of India Stock Forecast (Buy or Sell) as of 01 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:SBIN Stock Forecast Rationales & Estimation Model Time series to forecast n: 01 Dec 2021 for (n+30) 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

BOSTON (AC Invest Credit Rating Terminal) Wed Dec 01 2021 00:55:03 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Credit Rating Rationales & Model 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. Rating Model for State Street Corporation Depository Shares, each representing a 1/4,000th ownership interest in a share of Non: We estimate the credit risk parameters by Pierce Oscillators and Ridge Regression Credit Ratings for State Street Corporation Depository Shares, each representing a 1/4,000th ownership interest in a share of Non as of 01 Dec 2021 Credit Rating Short-Term Long-Term Senior AI Rating Class* Ba3 B1 Semantic Signals 80 49 Financial Signals 87 36 Risk Signals 42 80 Substantial Risks 48 61 Speculative

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 Delay-Line Oscillators and Lasso Regression. Machine Learning based stock forecast (n+1y) for HES Hess Corporation as below: HES Hess Corporation Stock Forecast (Buy or Sell) as of 01 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 % NYSE:HES Stock Forecast Rationales & Estimation Model Time series to forecast n: 01 Dec 2021 for (n+1y) While we only include contractual acquisitions when calculating A/B and A-B, when evaluating qualitative factors, we focus more on a company's track record and our expectation for financial management. In this respect, the quantitative and qualitative factors under the liquidity criteria are meant to complement each other and produce a more comprehens

BOSTON (AC Invest Credit Rating Terminal) Wed Dec 01 2021 00:25:03 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 Nutriband Inc: We estimate the credit risk parameters by Parabolic SAR (PSAR) and Spearman Correlation Credit Ratings for Nutriband Inc as of 01 Dec 2021 Credit Rating Short-Term Long-Term Senior AI Rating Class* B3 B1 Semantic Signals

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 Demand and Stepwise Regression. Machine Learning based stock forecast (n+15) for SAR Saratoga Investment Corp New as below: SAR Saratoga Investment Corp New Stock Forecast (Buy or Sell) as of 30 Nov 2021 for (n+15) How Does Forecast Model Work? x axis:Likelihood % y axis:Potential Impact % z axis:Color (yellow to green) Technical Analysis % NYSE:SAR Stock Forecast Rationales & Estimation Model Time series to forecast n: 30 Nov 2021 for (n+15) 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 throug

BOSTON (AC Invest Credit Rating Terminal) Tue Nov 30 2021 23:55:03 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Credit Rating Rationales & Model 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. Rating Model for Fixed Income Clearing Corporation: We estimate the credit risk parameters by Chaikin Oscillator and ANOVA Credit Ratings for Fixed Income Clearing Corporation as of 30 Nov 2021 Credit Rating Short-Term Long-Term Senior AI Rating Class* B1 Ba3 Semantic Signals 66 69 Financial Signals 85 56 Ris

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 Price Channels and Pearson Correlation. Machine Learning based stock forecast (n+7) for IQG IQGEO GROUP PLC as below: IQG IQGEO GROUP PLC Stock Forecast (Buy or Sell) as of 30 Nov 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:IQG Stock Forecast Rationales & Estimation Model Time series to forecast n: 30 Nov 2021 for (n+7) Other factors we consider include a company's frequency of debt issuance and market access, especially during times of company-specific stress or credit market turbulence. We estimate IQG IQGEO GROUP PLC stock forecast parameters by: Price Channels with Pearson Correlation

BOSTON (AC Invest Credit Rating Terminal) Tue Nov 30 2021 23:25:03 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Credit Rating Rationales & Model 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 asymmetry issues sometimes make it impractical for smaller, speculative-grade issuers to raise small amounts of debt in public markets. Rating Model for Burlington Coat Factory Warehouse Corporation: We estimate the credit risk parameters by Bollinger Bands and Ridge Regression Credit Ratings for Bur

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 Bollinger Bands %B and Spearman Correlation. Machine Learning based stock forecast (n+7) for MSBI Midland States Bancorp as below: MSBI Midland States Bancorp Stock Forecast (Buy or Sell) as of 30 Nov 2021 for (n+7) How Does Forecast Model Work? x axis:Likelihood % y axis:Potential Impact % z axis:Color (yellow to green) Technical Analysis % NASDAQ:MSBI Stock Forecast Rationales & Estimation Model Time series to forecast n: 30 Nov 2021 for (n+7) Given that it can be difficult to identify outstanding CP at any point in time, when considering coverage, we may include our expectations for peak outstanding CP during the year as opposed to CP balances as of the last filing date, especially if we believe reported balances are not reflective of typical borrowing patterns. We estimate MSBI

BOSTON (AC Invest Credit Rating Terminal) Tue Nov 30 2021 22:55:03 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Credit Rating Rationales & Model 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 asymmetry issues sometimes make it impractical for smaller, speculative-grade issuers to raise small amounts of debt in public markets. Rating Model for Northshore University Healthsystem: We estimate the credit risk parameters by Hartley Oscillator and Spearman Correlation Credit Ratings for Northsh

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 FS and ElasticNet Regression. Machine Learning based stock forecast (n+15) for FJET FASTJET PLC as below: FJET FASTJET PLC Stock Forecast (Buy or Sell) as of 30 Nov 2021 for (n+15) How Does Forecast Model Work? x axis:Likelihood % y axis:Potential Impact % z axis:Color (yellow to green) Technical Analysis % LON:FJET Stock Forecast Rationales & Estimation Model Time series to forecast n: 30 Nov 2021 for (n+15) In this scenario, we would still include the existing debt maturity as a use of liquidity in our A/B and A-B calculations, if the debt matures within the corresponding liquidity horizon. The rationale is that our liquidity assessment is essentially a stress test against a sudden and severe loss of capital markets access availability. For companies with an anchor of at least 

BOSTON (AC Invest Credit Rating Terminal) Tue Nov 30 2021 22:25:03 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Credit Rating Rationales & Model For these reasons, although the criteria establish no rating threshold for liquidity, we typically expect: Instances of 'B+' and below rated issuers achieving liquidity descriptors higher than adequate to be rare and Few companies to qualify for the exceptional category, and these entities to typically have issuer credit ratings of 'BBB-' or above. Rating Model for FIRST METROPLEX CAPITAL, INC.: We estimate the credit risk parameters by Chaikin Oscillator and Simple Regression Credit Ratings for FIRST METROPLEX CAPITAL, INC. as of 30 Nov 2021 Credit Rating Short-Term Long-Term Senior AI Rating Class* Ba3 B1 Semantic Signals 67 58 Financial Signals 74 56 Risk Signals 64 58 Substantial Risks 47 64 Speculative Signals 84 51 *Machine Learning util

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 Relative Strength Index (RSI) and Linear Regression. Machine Learning based stock forecast (n+1y) for SDV CHELVERTON UK DIVIDEND TRUST PLC as below: SDV CHELVERTON UK DIVIDEND TRUST PLC Stock Forecast (Buy or Sell) as of 30 Nov 2021 for (n+1y) How Does Forecast Model Work? x axis:Likelihood % y axis:Potential Impact % z axis:Color (yellow to green) Technical Analysis % LON:SDV Stock Forecast Rationales & Estimation Model Time series to forecast n: 30 Nov 2021 for (n+1y) Shared facilities with captive finance entities. When an issuer has a shared revolving credit facility with a captive finance entity, for purposes of calculating the issuer's liquidity sources, we net outstanding commercial paper at the captive from the revolver's borrowing availability. In these cases, we g