Skip to main content

Posts

Showing posts from February 1, 2022

Learfield Communications, LLC Assigned Short-Term B2 & Long-Term B1 Credit Rating

In these cases, the level of capital expenditures will be lower than estimates in our base-case forecast to determine an issuer's financial risk profile, particularly for companies that are pursuing discrete growth projects that have not been committed or can be easily curtailed in case of a need to preserve cash.Learfield Communications, LLC Assigned Short-Term B2 & Long-Term B1 Credit Rating. How Does Credit Rating Model Work? Rating Model for Learfield Communications, LLC: We estimate the credit risk parameters by OCL and Ridge Regression Credit Ratings for Learfield Communications, LLC as of 02 Feb 2022 Credit Rating Short-Term Long-Term Senior AI Rating Class* B2 B1 Semantic Signals 77 66 Financial Signals 60 73 Risk Signals 43 50 Substantial Risks 54 60 Speculative Signals 43 37 *Machine Learning utilizes multiple learning algorithms to obtain better predictive powers. In our research, we utilize machine learning to combine the results from the

Shandong Humon Smelting Co., Ltd. Assigned Short-Term B1 & Long-Term B2 Credit Rating

When determining the cash to be included under sources (A), we use cash that will be available to cover monetary outflows. As a result, we may make haircuts to account for cash trapped overseas (for example, haircut for taxes payable upon repatriation of cash held abroad), apply a discount to lower-quality marketable securities, and exclude restricted cash held for specific purposes.Shandong Humon Smelting Co., Ltd. Assigned Short-Term B1 & Long-Term B2 Credit Rating. How Does Credit Rating Model Work? Rating Model for Shandong Humon Smelting Co., Ltd.: We estimate the credit risk parameters by Tuned Collector Oscillator and Factor Credit Ratings for Shandong Humon Smelting Co., Ltd. as of 02 Feb 2022 Credit Rating Short-Term Long-Term Senior AI Rating Class* B1 B2 Semantic Signals 67 57 Financial Signals 65 43 Risk Signals 30 56 Substantial Risks 65 30 Speculative Signals 73 83 *Machine Learning utilizes multiple learning algorithms to obtain better pre

Columbia Sportswear Company Assigned Short-Term B2 & Long-Term Ba3 Credit Rating

We do not assume future debt refinancing or the rolling over of CP, regardless of the company's perceived credit strength or issuer credit rating. For instance, even for investment-grade issuers, we do not assume future debt maturities are refinanced with potential uncommitted capital raises. We could, however, consider a shorter time horizon.Columbia Sportswear Company Assigned Short-Term B2 & Long-Term Ba3 Credit Rating. How Does Credit Rating Model Work? Rating Model for Columbia Sportswear Company: We estimate the credit risk parameters by Hartley Oscillator and Beta Credit Ratings for Columbia Sportswear Company as of 02 Feb 2022 Credit Rating Short-Term Long-Term Senior AI Rating Class* B2 Ba3 Semantic Signals 34 90 Financial Signals 80 71 Risk Signals 78 73 Substantial Risks 46 42 Speculative Signals 47 53 *Machine Learning utilizes multiple learning algorithms to obtain better predictive powers. In our research, we utilize machine learning to

Sakai Ovex Co Ltd Assigned Short-Term Ba2 & Long-Term B2 Credit Rating

In our assessment of a company's liquidity, we also consider the impact of unique industry characteristics.Sakai Ovex Co Ltd Assigned Short-Term Ba2 & Long-Term B2 Credit Rating. How Does Credit Rating Model Work? Rating Model for Sakai Ovex Co Ltd: We estimate the credit risk parameters by Robinson Oscillators and Chi-Square Credit Ratings for Sakai Ovex Co Ltd as of 02 Feb 2022 Credit Rating Short-Term Long-Term Senior AI Rating Class* Ba2 B2 Semantic Signals 89 74 Financial Signals 33 36 Risk Signals 78 38 Substantial Risks 69 58 Speculative Signals 76 62 *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.Take a look at: How Does Credit Rating Model Work? Financial Analysis for Sakai Ovex Co Ltd Financials: PREMIUM Income Statement: PREMIUM Balance Sheet: PREMIUM Cash Flow: PREMIUM Valu

Sanki Service Corp Assigned Short-Term B1 & Long-Term Baa2 Credit Rating

For companies that engage in reverse factoring--where accounts payable (AP) days are extended beyond the term customary for the industry and supply chain--we assess the likelihood and potential impact on liquidity of these arrangements ceasing to exist. In such a scenario, a company could be subject to material working capital outflows if AP days with its suppliers revert back to industry norms. Accordingly, we exclude these arrangements from sources of liquidity.Sanki Service Corp Assigned Short-Term B1 & Long-Term Baa2 Credit Rating. How Does Credit Rating Model Work? Rating Model for Sanki Service Corp: We estimate the credit risk parameters by SMoothed Moving Average (SMMA) and Chi-Square Credit Ratings for Sanki Service Corp as of 02 Feb 2022 Credit Rating Short-Term Long-Term Senior AI Rating Class* B1 Baa2 Semantic Signals 68 62 Financial Signals 45 78 Risk Signals 75 84 Substantial Risks 51 80 Speculative Signals 51 89 *Machine Learning utilizes

Pernix Group Inc Assigned Short-Term B2 & Long-Term B2 Credit Rating

We do not include potential future debt issuances as a source of liquidity because of the uncertainty of a company's ability to access debt markets in times of financial stress, even for investment-grade issuers. For instance, in the case of a proposed financing, with the intended use of proceeds to repay existing debt, we will assess a company's liquidity excluding the proposed financing until it's obtained or fully underwritten.Pernix Group Inc Assigned Short-Term B2 & Long-Term B2 Credit Rating. How Does Credit Rating Model Work? Rating Model for Pernix Group Inc: We estimate the credit risk parameters by Directional Movement Indicator and Multiple Regression Credit Ratings for Pernix Group Inc as of 02 Feb 2022 Credit Rating Short-Term Long-Term Senior AI Rating Class* B2 B2 Semantic Signals 43 47 Financial Signals 48 58 Risk Signals 30 76 Substantial Risks 66 49 Speculative Signals 86 41 *Machine Learning utilizes multiple learning algor

Tsingtao Brewery Co Ltd Assigned Short-Term Ba2 & Long-Term Ba2 Credit Rating

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.Tsingtao Brewery Co Ltd Assigned Short-Term Ba2 & Long-Term Ba2 Credit Rating. How Does Credit Rating Model Work? Rating Model for Tsingtao Brewery Co Ltd: We estimate the credit risk parameters by Moving Average Convergence Divergence (MACD) and Ridge Regression Credit Ratings for Tsingtao Brewery Co Ltd as of 02 Feb 2022 Credit Rating Short-Term

China Pharma Holdings, Inc. Assigned Short-Term Ba1 & Long-Term B3 Credit Rating

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.China Pharma Holdings, Inc. Assigned Short-Term Ba1 & Long-Term B3 Credit Rating. How Does Credit Rating Model Work? Rating Model for China Pharma Holdings, Inc.: We estimate the credit risk parameters by Wien Bridge Oscillator and Simple Regression Credit Ratings for China Pharma Holdings, Inc. as of 02 Feb 2022 Credit Rating Short-Term Long-Term Senior AI Rating Class* Ba1 B3 Semantic Signals 77 41 Financial Signals 71 52 Risk Signals 47 47 Substantial Risks 73 52 Speculative Signals 90 46 *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 Netw

BUCKLEY STATE BANK Assigned Short-Term Baa2 & Long-Term B2 Credit Rating

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.BUCKLEY STATE BANK Assigned Short-Term Baa2 & Long-Term B2 Credit Rating. How Does Credit Rating Model Work? Rating Model for BUCKLEY STATE BANK: We estimate the credit risk parameters by FS and Multiple Regression Credit Ratings for BUCKLEY STATE BANK as of 02 Feb 2022 Credit Rating Short-Term Long-Term Senior AI Rating Class* Baa2 B2 Semantic Signals 90 37 Financial Signals 74 56

BLISSFIELD BANK CORPORATION Assigned Short-Term Baa2 & Long-Term B2 Credit Rating

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.BLISSFIELD BANK CORPORATION Assigned Short-Term Baa2 & Long-Term B2 Credit Rating. How Does Credit Rating Model Work? Rating Model for BLISSFIELD BANK CORPORATION: We estimate the credit risk parameters by Sustainability and Lasso Regression Credit Ratings for BLISSFIELD BANK CORPORATION as of 02 Feb 2022 Credit Rating Short-Term Long-Term Senior AI Rating

DCP Midstream Partners, LP DCP Midstream Partnership, LP Common Units Assigned Short-Term Ba3 & Long-Term B2 Credit Rating

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.DCP Midstream Partners, LP DCP Midstream Partnership, LP Common Units Assigned Short-Term Ba3 & Long-Term B2 Credit Rating. How Does Credit Rating Model Work? Rating Model for DCP Midstream Partners, LP DCP Midstream Partnership, LP Common Units: We estimate the credit risk parameters by SMoothed Moving Average (SMMA) and Ridge Regression Credit Ratings for DCP Midstream Partners, LP DCP Midstream Partnership, LP Common Units as of 02 Feb 2022 Credit Rating Short-Term Long-Term Senior AI Rating Class* Ba3 B2 Semantic Signals 57 44 Financial Signals 46 45 Risk Signals 83 85 Substantial Risks 82 47 Speculative Signals 69 46 *Machine Learning utilizes multiple learning algori

7-Eleven, Inc. Assigned Short-Term Ba3 & Long-Term B1 Credit Rating

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.7-Eleven, Inc. Assigned Short-Term Ba3 & Long-Term B1 Credit Rating. How Does Credit Rating Model Work? Rating Model for 7-Eleven, Inc.: We estimate the credit risk parameters by Running Moving Average (RMA) and Stepwise Regression Credit Ratings for 7-Eleven, Inc. as of 02 Feb 2022 Credit Rating Short-Term Long-Term Senior AI Rating Class* Ba3 B1 Semantic Signals 47 48 Financial Signals 68 40 Risk Signals 85 46 Substantial Risks 90 82 Speculative Signals 45 83 *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.Take a look at: How Does Credit Rating Mod

THE HARVARD STATE BANK Assigned Short-Term B2 & Long-Term Ba3 Credit Rating

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.THE HARVARD STATE BANK Assigned Short-Term B2 & Long-Term Ba3 Credit Rating. How Does Credit Rating Model Work? Rating Model for THE HARVARD STATE BANK: We estimate the credit risk parameters by Penetration and Sign Test Credit Ratings for THE HARVARD STATE BANK as of 02 Feb 2022 Credit Rating Short-Term Long-Term Senior AI Rating Class* B2 Ba3 Semantic Signals 58 71 Financial Signals 88 86 Risk Signals 36 82 Substantial Risks 54 37 Speculative Signals 35 39 *Machine Learning utilizes multiple learning algorithms to obtain better predictive powers. In our research, we utilize machine learning to combine the results