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 Oscillator (PPO) and Polynomial Regression. Machine Learning based stock forecast (n+7) for CRNC Cerence Inc. as below: CRNC Cerence Inc. Stock Forecast (Buy or Sell) as of 08 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:CRNC Stock Forecast Rationales & Estimation Model Time series to forecast n: 08 Dec 2021 for (n+7) 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-inve

BOSTON (AC Invest Credit Rating Terminal) Wed Dec 08 2021 10:55:03 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 PORT AUSTIN STATE BANK: We estimate the credit risk parameters by Ichimoku Cloud (IKH) and Paired T-Test Credit Ratings for PORT AUSTIN STATE BANK as of 08 Dec 2021 Credit Rating

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 Crystal Oscillators and ANOVA. Machine Learning based stock forecast (n+30) for TEL TE Connectivity Ltd. New Switzerland Registered Shares as below: TEL TE Connectivity Ltd. New Switzerland Registered Shares Stock Forecast (Buy or Sell) as of 08 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 % NYSE:TEL Stock Forecast Rationales & Estimation Model Time series to forecast n: 08 Dec 2021 for (n+30) 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 quant

BOSTON (AC Invest Credit Rating Terminal) Wed Dec 08 2021 10:25:03 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Credit Rating Rationales & Model 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. Rating Model for CENTRAL BANK: We estimate the credit risk parameters by Electron Coupled Oscillators and Beta Credit Ratings for CENTRAL BANK as of 08 Dec 2021 Credit Rating Short-Term Long-Term Senior AI Rating Class* Ba3 B2 Semantic Signals 40 49 Financial Signals 53 57 Risk Signals 81 46 Substantial

BOSTON (AC Invest Credit Rating Terminal) Wed Dec 08 2021 09:25:02 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 Lonestar Intermediate Super Holdings, LLC: We estimate the credit risk parameters by Hartley Oscillator and Beta Credit Ratings for Lonestar Intermediate Super Holdings, LLC as of 08 Dec 2021 Credit Rating Short-Term Long-Term Senior AI Rating Class* B3 B1 Semantic Signals 43 56 Financial Signals 55 39 Risk Signals 73 45 Substantial Risks 33 78 Speculative Signals 46 63 *Machine Learning utilizes multiple learning algorithms to

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 Chaikin Oscillator and Logistic Regression. Machine Learning based stock forecast (n+15) for HLVLTD HLV LIMITED as below: HLVLTD HLV LIMITED Stock Forecast (Buy or Sell) as of 08 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:HLVLTD Stock Forecast Rationales & Estimation Model Time series to forecast n: 08 Dec 2021 for (n+15) 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). We estimate HLVLTD HLV LIMITED stock forecast

BOSTON (AC Invest Credit Rating Terminal) Wed Dec 08 2021 08:55:02 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 MEARS GROUP PLC: We estimate the credit risk parameters by Delay-Line Oscillators and Logistic Regression Credit Ratings for MEARS GROUP PLC as of 08 Dec 2021 Credit Rating Short-Term Long-Term Senior AI Rating Class* Ba3 B1 Semantic Signals 76 66 Financial Signals 49 61 Risk Signals 61 80 Substantial Risks 71 65 Speculative Signals 60 30 *Machine Learning utilizes multiple learning algorithms to obtain better predictive powers.

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 Sign Test. Machine Learning based stock forecast (n+30) for EFF Eaton vance Floating as below: EFF Eaton vance Floating Stock Forecast (Buy or Sell) as of 08 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 % NYSE:EFF Stock Forecast Rationales & Estimation Model Time series to forecast n: 08 Dec 2021 for (n+30) 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. We estimate EFF Eaton vance Floating stock forecast

BOSTON (AC Invest Credit Rating Terminal) Wed Dec 08 2021 08:25:02 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 Deutsche Bk Contingent Cap Tr III Tr Pfd Secs: We estimate the credit risk parameters by Adaptive Moving Average and Independent T-Test Credit Ratings for Deutsch

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 Multi-Wave Oscillators and Linear Regression. Machine Learning based stock forecast (n+30) for VMUK VIRGIN MONEY UK PLC as below: VMUK VIRGIN MONEY UK PLC Stock Forecast (Buy or Sell) as of 08 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:VMUK Stock Forecast Rationales & Estimation Model Time series to forecast n: 08 Dec 2021 for (n+30) 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). We estimate VMUK VIRGIN MONEY UK P

BOSTON (AC Invest Credit Rating Terminal) Wed Dec 08 2021 07:55:03 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 Trust & Custody Services Bank, Ltd.: We estimate the credit risk parameters by Running Moving Average (RMA) and Beta Credit Ratings for Trust & Custody Services Bank, Ltd. as of 08 Dec 2021 Credit Rating Short-Term Long-Term Senior AI Rating Class* Ba3 B1 Semantic Signals 53 68 Financial Signals 70 73 Risk Signals 82 58 Substantial Risks 86 51

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 Linear Regression. Machine Learning based stock forecast (n+7) for BHRD BE HEARD GROUP PLC as below: BHRD BE HEARD GROUP PLC Stock Forecast (Buy or Sell) as of 08 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:BHRD Stock Forecast Rationales & Estimation Model Time series to forecast n: 08 Dec 2021 for (n+7) 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 restri

BOSTON (AC Invest Credit Rating Terminal) Wed Dec 08 2021 07:25:03 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 MicroStrategy Incorporated: We estimate the credit risk parameters by Expectation and Multiple Regression Credit Ratings for MicroStrategy Incorporated as of 08 Dec 2021 Credit Rating Short-Term Long-Term Senior AI Rating Class* Ba3 Ba3 Semantic Signals 53 80 Financial Signals 86 81 Risk Signals 35 41 Substantial Risks 88 43 Speculative Signals 57 60 *Machine Learning utilizes multiple learning algorithms to obtain better predictive powers. In our research, we utilize machine learning to combine the res

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 Moving Average Convergence Divergence (MACD) and Wilcoxon Rank-Sum Test. Machine Learning based stock forecast (n+7) for CHEMBOND Chembond Chemicals Ltd as below: CHEMBOND Chembond Chemicals Ltd Stock Forecast (Buy or Sell) as of 08 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 % NSE:CHEMBOND Stock Forecast Rationales & Estimation Model Time series to forecast n: 08 Dec 2021 for (n+7) 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

BOSTON (AC Invest Credit Rating Terminal) Wed Dec 08 2021 06:55:03 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Credit Rating Rationales & Model 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. Rating Model for UNITE GROUP PLC: We estimate the credit risk parameters by Moving Average Convergence Divergence (MACD) and ElasticNet Regression Credit Ratings for UNITE GROUP PLC as of 08 Dec 2021 Credit Rating Short-Term Long-Term Senior AI Rating Class* Ba3 Ba2 Semantic Signals 49 60 Financial Signal

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 Moving Average Convergence Divergence (MACD) and Linear Regression. Machine Learning based stock forecast (n+1y) for TMO Thermo Fisher Scientific Inc as below: TMO Thermo Fisher Scientific Inc Stock Forecast (Buy or Sell) as of 08 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:TMO Stock Forecast Rationales & Estimation Model Time series to forecast n: 08 Dec 2021 for (n+1y) 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 proj

BOSTON (AC Invest Credit Rating Terminal) Wed Dec 08 2021 06:25:03 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Credit Rating Rationales & Model 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 liquidity position during times of stress, when potential downgrades are more likely. Rating Model for Town Sports International, LLC: We estimate the credit risk parameters by Tri-tet Oscillators and Sign Test Credit Ratings for Town Sports International, LLC as of 08 Dec 2021 Credit Rating Short-T

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 Cross-Coupled Oscillators and Wilcoxon Rank-Sum Test. Machine Learning based stock forecast (n+3m) for VOD Vodafone Group Plc as below: VOD Vodafone Group Plc Stock Forecast (Buy or Sell) as of 08 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:VOD Stock Forecast Rationales & Estimation Model Time series to forecast n: 08 Dec 2021 for (n+3m) 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 th

BOSTON (AC Invest Credit Rating Terminal) Wed Dec 08 2021 05:25:04 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Credit Rating Rationales & Model 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 liquidity. Rating Model for TATSUMI Corporation: We estimate the credit risk parameters by Accumulation Distribution Line and Ridge Regression Credit Ratings for TATSUMI Corporation as of 08 Dec 2021 Credit Rating Short-Term Long-Term Senior AI

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 Royer Oscillators and Spearman Correlation. Machine Learning based stock forecast (n+6m) for RMNI Rimini Street as below: RMNI Rimini Street Stock Forecast (Buy or Sell) as of 08 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:RMNI Stock Forecast Rationales & Estimation Model Time series to forecast n: 08 Dec 2021 for (n+6m) 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

BOSTON (AC Invest Credit Rating Terminal) Wed Dec 08 2021 04:25:02 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 Medley Capital Corporation 6.125% Senior Notes due 2023: We estimate the credit risk parameters by Running Moving Average (RMA) and ElasticNet Regression Credit 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 Voltage Controlled Oscillator and ElasticNet Regression. Machine Learning based stock forecast (n+7) for ARW ARROW GLOBAL GROUP PLC as below: ARW ARROW GLOBAL GROUP PLC Stock Forecast (Buy or Sell) as of 08 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:ARW Stock Forecast Rationales & Estimation Model Time series to forecast n: 08 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

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 Tri-tet Oscillators and ANOVA. Machine Learning based stock forecast (n+30) for BGLF BLACKSTONE / GSO LOAN FINANCING LTD as below: BGLF BLACKSTONE / GSO LOAN FINANCING LTD Stock Forecast (Buy or Sell) as of 08 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:BGLF Stock Forecast Rationales & Estimation Model Time series to forecast n: 08 Dec 2021 for (n+30) 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 indic

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 Wilcoxon Sign-Rank Test. Machine Learning based stock forecast (n+15) for PCRX Pacira BioSciences as below: PCRX Pacira BioSciences Stock Forecast (Buy or Sell) as of 08 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 % NASDAQ:PCRX Stock Forecast Rationales & Estimation Model Time series to forecast n: 08 Dec 2021 for (n+15) 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, a

BOSTON (AC Invest Credit Rating Terminal) Wed Dec 08 2021 02:55:04 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 RARITAN STATE BANK OF RARITAN IL: We estimate the credit risk parameters by Relative Strength Index (RSI) and Simple Regression Credit Ratings for RARITAN STATE BANK OF RARITAN IL as of 08 Dec 2021 Credit Rating Short-T

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 Wilcoxon Rank-Sum Test. Machine Learning based stock forecast (n+3m) for SIVB SVB Financial Group as below: SIVB SVB Financial Group Stock Forecast (Buy or Sell) as of 08 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:SIVB Stock Forecast Rationales & Estimation Model Time series to forecast n: 08 Dec 2021 for (n+3m) 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 line

BOSTON (AC Invest Credit Rating Terminal) Wed Dec 08 2021 02:25:03 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 Jiangsu Pacific Precision Forging: We estimate the credit risk parameters by Speculation and Lasso Regression Credit Ratings for Jiangsu Pacific Precision Forging as of 08 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 Keltner Channels and Chi-Square. Machine Learning based stock forecast (n+15) for PTEN Patterson as below: PTEN Patterson Stock Forecast (Buy or Sell) as of 08 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 % NASDAQ:PTEN Stock Forecast Rationales & Estimation Model Time series to forecast n: 08 Dec 2021 for (n+15) 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. We estimate PTEN Patterson stoc

BOSTON (AC Invest Credit Rating Terminal) Wed Dec 08 2021 01:55:03 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 Progressive Preferred Insurance Company: We estimate the credit risk parameters by Price Oscillator (PPO) and Simple Regression Credit Ratings for Progressive Preferred Insurance Company as of 08 Dec 2021 Credit Rating Short-Term Long-Term Senior AI Rating Class* B1 Ba3 Semantic Signals 35 71 Financial Signals 80 31 Risk Signals 54 52 Substantial 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 Price and Independent T-Test. Machine Learning based stock forecast (n+3m) for HAVISHA Sri Havisha Hospitality and Infrastructure Limited as below: HAVISHA Sri Havisha Hospitality and Infrastructure Limited Stock Forecast (Buy or Sell) as of 08 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:HAVISHA Stock Forecast Rationales & Estimation Model Time series to forecast n: 08 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. W

BOSTON (AC Invest Credit Rating Terminal) Wed Dec 08 2021 01:25:03 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 ESB FINANCIAL: We estimate the credit risk parameters by Bollinger Bands and Spearman Correlation Credit Ratings for ESB FINANCIAL as of 08 Dec 2021 Credit Rating Short-Term Long-Term Senior AI Rating Class* Baa2 B2 Semantic Signals 58 35 Financial Signals 82 31

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 Keltner Channels and Wilcoxon Rank-Sum Test. Machine Learning based stock forecast (n+7) for GDWN GOODWIN PLC as below: GDWN GOODWIN PLC Stock Forecast (Buy or Sell) as of 08 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:GDWN Stock Forecast Rationales & Estimation Model Time series to forecast n: 08 Dec 2021 for (n+7) 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 GDWN GOODWIN PLC stock forecast parameters by: Keltner Channels

BOSTON (AC Invest Credit Rating Terminal) Wed Dec 08 2021 00:55:03 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 E.I. du Pont de Nemours and Company Preferred Stock: We estimate the credit risk parameters by Tuned Collector Oscillator and Ridge Regression Credit Ratings for E.I. du Pont de N

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 Running Moving Average (RMA) and Chi-Square. Machine Learning based stock forecast (n+30) for BTT BlackRock Municipal Target Term Trust Inc. (The) as below: BTT BlackRock Municipal Target Term Trust Inc. (The) Stock Forecast (Buy or Sell) as of 08 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 % NYSE:BTT Stock Forecast Rationales & Estimation Model Time series to forecast n: 08 Dec 2021 for (n+30) 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

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 Aroon and Logistic Regression. Machine Learning based stock forecast (n+30) for AL Air Lease Corporation Class A as below: AL Air Lease Corporation Class A Stock Forecast (Buy or Sell) as of 07 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 % NYSE:AL Stock Forecast Rationales & Estimation Model Time series to forecast n: 07 Dec 2021 for (n+30) 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. We estimate AL Air Lease Corporation Class A stock forecast parameters by: Aroon with Logistic Regres

BOSTON (AC Invest Credit Rating Terminal) Tue Dec 07 2021 23:55:02 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Credit Rating Rationales & Model 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 greater potential for inventory to suffer value erosion in a downturn), we do not consider this measure as pertinent. Rating Model for CACI International, Inc. Class A Common Stock: We estimate the credit risk parameters by Bollinger Bands Width and Independent T-Test Credit Ratings for CACI International, Inc. Class A Common Stock as of 07 Dec 2021 Credit Rating Short-Term Long-Term Senior AI Rating Class* B

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 Average True Range (ATR) and Logistic Regression. Machine Learning based stock forecast (n+6m) for SKIPPER Skipper Limited as below: SKIPPER Skipper Limited Stock Forecast (Buy or Sell) as of 07 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:SKIPPER Stock Forecast Rationales & Estimation Model Time series to forecast n: 07 Dec 2021 for (n+6m) 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

BOSTON (AC Invest Credit Rating Terminal) Tue Dec 07 2021 23:25:03 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 Proofpoint, Inc.: We estimate the credit risk parameters by Parabolic SAR (PSAR) and Logistic Regression Credit Ratings for Proofpoint, Inc. as of 07 Dec 2021 Credit Rating Short-Term Long-Term Senior AI Rating Class* B1 Ba3 Semantic Signals 83 31 Financial Signals 35 79 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 Dynatron Oscillators and Independent T-Test. Machine Learning based stock forecast (n+30) for TRT TRANSENSE TECHNOLOGIES PLC as below: TRT TRANSENSE TECHNOLOGIES PLC Stock Forecast (Buy or Sell) as of 07 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:TRT Stock Forecast Rationales & Estimation Model Time series to forecast n: 07 Dec 2021 for (n+30) 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 exceptio

BOSTON (AC Invest Credit Rating Terminal) Tue Dec 07 2021 22:25:03 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Credit Rating Rationales & Model 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. Rating Model for Autokiniton US Holdings, Inc.: We estimate the credit risk parameters by Rating and ANOVA Credit Ratings for Autokiniton US Holdings, Inc. as of 07 Dec 2021 Credit Rating Short-Term Long-Term Senior AI Rating Class* B1 B3 Semantic Signals 57 67 Financial Signals 56 61 Risk Signals 43 41 Substantial Risks 53 30 Speculative Signals 86 40 *Machine Learning utilizes multiple learning algorithms to obtain better predictive powers. In our research, we utilize machine

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 Exponential Moving Average (EMA) and Linear Regression. Machine Learning based stock forecast (n+3m) for PTC PTC Inc. as below: PTC PTC Inc. Stock Forecast (Buy or Sell) as of 07 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:PTC Stock Forecast Rationales & Estimation Model Time series to forecast n: 07 Dec 2021 for (n+3m) 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 PTC PTC Inc. stock for

BOSTON (AC Invest Credit Rating Terminal) Tue Dec 07 2021 21:25:03 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 SABRE INSURANCE GROUP PLC: We estimate the credit risk parameters by Commodity Channel Index and Spearman Correlation Credit Ratings for SABRE INSURANCE GROUP PLC as of 07 Dec 2021 Credit Rating Short-Term Long-Term Senior AI Rating Class* B2 Ba2 Semantic Signals 71 38 Financial Signals 46 85 Risk Signals 46 63 Substantial Risks 37 75 Speculative Signals 80 79 *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 Rate of Change (ROC) and Spearman Correlation. Machine Learning based stock forecast (n+1y) for PNN PENNON GROUP PLC as below: PNN PENNON GROUP PLC Stock Forecast (Buy or Sell) as of 07 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:PNN Stock Forecast Rationales & Estimation Model Time series to forecast n: 07 Dec 2021 for (n+1y) 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 ca

BOSTON (AC Invest Credit Rating Terminal) Tue Dec 07 2021 20:55:03 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 R & J FINANCIAL CORPORATION: We estimate the credit risk parameters by Meissner Oscillators and Pearson Correlation Credit Ratings for R & J

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 Rating and Lasso Regression. Machine Learning based stock forecast (n+1y) for FEUZ First Trust Eurozone AlphaDEX ETF as below: FEUZ First Trust Eurozone AlphaDEX ETF Stock Forecast (Buy or Sell) as of 07 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 % NASDAQ:FEUZ Stock Forecast Rationales & Estimation Model Time series to forecast n: 07 Dec 2021 for (n+1y) 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 exce

BOSTON (AC Invest Credit Rating Terminal) Tue Dec 07 2021 20:25:02 GMT+0000 (Coordinated Universal Time) AI Credit Ratings today took the rating actions below: Credit Rating Rationales & Model 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 liquidity. Rating Model for Seneca Foods Corp.: We estimate the credit risk parameters by Cross-Coupled Oscillators and Multiple Regression Credit Ratings for Seneca Foods Corp. as of 07 Dec 2021 Credit Rating Short-Term Long-Term Senior AI Rati

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 Sustainability and ANOVA. Machine Learning based stock forecast (n+6m) for AGI Alamos Gold Inc Ordinary Shares as below: AGI Alamos Gold Inc Ordinary Shares Stock Forecast (Buy or Sell) as of 07 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 % NYSE:AGI Stock Forecast Rationales & Estimation Model Time series to forecast n: 07 Dec 2021 for (n+6m) 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,

BOSTON (AC Invest Credit Rating Terminal) Tue Dec 07 2021 19:55:03 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 Patriot Transportation Holding Inc: We estimate the credit risk parameters by Voltage Controlled Oscillator and Simple Regression Credit Ratings for Patriot Transportation Holding Inc as of 07 Dec 2021 Credit Rating Short-Term Long-Term Senior AI Rating Class* Ba3 B2 Semantic Signals 41 77 Fin

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 Lasso Regression. Machine Learning based stock forecast (n+7) for NXT NEXT PLC as below: NXT NEXT PLC Stock Forecast (Buy or Sell) as of 07 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:NXT Stock Forecast Rationales & Estimation Model Time series to forecast n: 07 Dec 2021 for (n+7) 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). We estimate NXT NEXT PLC stock forecast parameters by: Ra

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 Robinson Oscillators and Sign Test. Machine Learning based stock forecast (n+30) for LRN K12 Inc as below: LRN K12 Inc Stock Forecast (Buy or Sell) as of 07 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 % NYSE:LRN Stock Forecast Rationales & Estimation Model Time series to forecast n: 07 Dec 2021 for (n+30) 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. We estimate LRN K12 Inc stock forecast parameters by: Robinson Oscillators with Sign Test

BOSTON (AC Invest Credit Rating Terminal) Tue Dec 07 2021 18:55:03 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 Natural Grocers by Vitamin Cottage, Inc. Common Stock: We estimate the credit risk parameters by Rate of Change (ROC) and Factor Credit Ratings for Natural Grocers by Vitamin Cottage, Inc. Common Stock as of 07 Dec 2021 Credit Rating Short-Term Long-Term Senior AI Rating Class* B1 Ba3 Semantic Signals 54 67 Financial Signals 62 86 Risk Signals 43 54 Substantial Risks 89 65 Speculative Signals 58 47 *Machine Learning utilizes multiple le