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Showing posts from February 6, 2022

Hurco Companies, Inc. Assigned Short-Term B1 & Long-Term Ba3 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.Hurco Companies, Inc. Assigned Short-Term B1 & Long-Term Ba3 Credit Rating. How Does Credit Rating Model Work? Rating Model for Hurco Companies, Inc.: We estimate the credit risk parameters by Profit and Lasso Regression Credit Ratings for Hurco Companies, Inc. as of 07 Feb 2022 Credit Rating Short-Term Long-Term Senior AI Rating Class* B1 Ba3 Semantic Signals 68 51 Financial Signals 47 88 Risk Signals 65 63 Substantial Risks 30 68 Speculative Signals 85 45 *Machine Learning utilizes multiple le

Lakes Entertainment, Inc. Assigned Short-Term Ba3 & Long-Term B1 Credit Rating

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.Lakes Entertainment, Inc. Assigned Short-Term Ba3 & Long-Term B1 Credit Rating. How Does Credit Rating Model Work? Rating Model for Lakes Entertainment, Inc.: We estimate the credit risk parameters by Bollinger Bands Width and Sign Test Credit Ratings for Lakes Entertainment, Inc. as of 07 Feb 2022 Credit Rating Short-Term Long-Term Senior AI Rating Class* Ba3 B1 Semantic Signals 55 49 Financial Signals 33 62 Risk Signals 88 62 Substantial Risks 75 59 Speculative Signals 82 61 *Machine Learning util

Capnia, Inc. Assigned Short-Term B1 & Long-Term B2 Credit Rating

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.Capnia, Inc. Assigned Short-Term B1 & Long-Term B2 Credit Rating. How Does Credit Rating Model Work? Rating Model for Capnia, Inc.: We estimate the credit risk parameters by Momentum and Independent T-Test Credit Ratings for Capnia, Inc. as of 07 Feb 2022 Credit Rating Short-Term Long-Term Senior AI Rating Class* B1 B2 Semantic Signals 42 35 Financial Signals 52 82 Risk Signals 62 37 Substantial Risks 63 49 Speculative Sign

PUTNAM 1ST MERCANTILE BANK Assigned Short-Term Ba2 & Long-Term Ba3 Credit Rating

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.PUTNAM 1ST MERCANTILE BANK Assigned Short-Term Ba2 & Long-Term Ba3 Credit Rating. How Does Credit Rating Model Work? Rating Model for PUTNAM 1ST MERCANTILE BANK: We estimate the credit risk parameters by Rate of Change (ROC) and ElasticNet Regression Credit Ratings for PUTNAM 1ST MERCANTILE BANK as of 07 Feb 2022 Credit Rating Short-Term Long-Term Senior AI Rating Class* Ba2 Ba3 Semantic Signals 66 69 Financial Signals 71 84 Risk Signals 77 38 Substantial Risks 56 64 Speculative Signals 71 70 *Machine Learning utilizes multiple learning algorithms to obtain better predictive powers. In our research, we utilize machine learning to combine t

Bloomage Biotechnology Corp Ltd Assigned Short-Term B1 & Long-Term B1 Credit Rating

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.Bloomage Biotechnology Corp Ltd Assigned Short-Term B1 & Long-Term B1 Credit Rating. How Does Credit Rating Model Work? Rating Model for Bloomage Biotechnology Corp Ltd: We estimate the credit risk parameters by OCL and Pearson Correlation Credit Ratings for Bloomage Biotechnology Corp Ltd as of 07 Feb 2022 Credit Rating Short-Term Long-Term Senior AI Rating Class* B1 B1 Semantic Signals 88 48 Financial Signals 57 77 Risk Signals 30 33 Substantial Risks 52 86 Speculative Signals 75 35

First Preferred Cap Tr Iv First Preferred Capital Trust IV 8.15% Cum Trust Pfd Sec Assigned Short-Term Ba3 & Long-Term B2 Credit Rating

For new issuers, while our ratings are prospective, we will not include proposed financing as a source in our liquidity calculations until the financing has been obtained or is fully underwritten. Similarly, we would not include rights issues as a source of liquidity for a company, unless the rights issue is irrevocably guaranteed (for example, an underwriter agrees to buy any securities not taken up by existing holders).First Preferred Cap Tr Iv First Preferred Capital Trust IV 8.15% Cum Trust Pfd Sec Assigned Short-Term Ba3 & Long-Term B2 Credit Rating. How Does Credit Rating Model Work? Rating Model for First Preferred Cap Tr Iv First Preferred Capital Trust IV 8.15% Cum Trust Pfd Sec: We estimate the credit risk parameters by Meissner Oscillators and Pearson Correlation Credit Ratings for First Preferred Cap Tr Iv First Preferred Capital Trust IV 8.15% Cum Trust Pfd Sec as of 07 Feb 2022 Credit Rating Short-Term Long-Term Senior AI Rating Class* Ba3 B2 Sem

Nantong Jiangshan Agrochemical&Chemicals Assigned Short-Term Ba3 & Long-Term B2 Credit Rating

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.Nantong Jiangshan Agrochemical&Chemicals Assigned Short-Term Ba3 & Long-Term B2 Credit Rating. How Does Credit Rating Model Work? Rating Model for Nantong Jiangshan Agrochemical&Chemicals: We estimate the credit risk parameters by Money Flow Index (MFI) and Independent T-Test Credit Ratings for Nantong Jiangshan Agrochemical&Chemicals as of 07 Feb 2022 Credit Rating Short-Term Long-Term Senior AI Rating Class* Ba3 B2 Semantic Signals 87 49 Financial Signals 40 50 Risk Signals 80 87 Substantial Risks 86 38 Speculative Signals 32 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 Neur

IRF EUROPEAN FINANCE INVESTMENTS LTD Assigned Short-Term Ba1 & Long-Term Ba1 Credit Rating

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.IRF EUROPEAN FINANCE INVESTMENTS LTD Assigned Short-Term Ba1 & Long-Term Ba1 Credit Rating. How Does Credit Rating Model Work? Rating Model for IRF EUROPEAN FINANCE INVESTMENTS LTD: We estimate the credit risk parameters by Price Oscillator (PPO) and Simple Regression Credit Ratings for IRF EUROPEAN FINANCE INVESTMENTS LTD as of 07 Feb 2022 Credit Rating Short-Term Long-Term Senior AI Rating Class* Ba1 Ba1 Semantic Signals 69 81 Financial Signals 79 82 Risk Signals 85 88 Substantial

Old Second Bancorp, Inc. Assigned Short-Term B1 & Long-Term Baa2 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.Old Second Bancorp, Inc. Assigned Short-Term B1 & Long-Term Baa2 Credit Rating. How Does Credit Rating Model Work? Rating Model for Old Second Bancorp, Inc.: We estimate the credit risk parameters by On Balance Volume (OBV) and Independent T-Test Credit Ratings for Old Second Bancorp, Inc. as of 07 Feb 2022 Credit Rating Short-Term Long-Term Senior AI Rating Class* B1 Baa2 Semantic Signals 79 88 Financial Signals 50 71 Risk Signals 86 90 Substantial Risks 35 60 Speculative Signals 40 84 *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:

M BANK 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.M BANK Assigned Short-Term Ba2 & Long-Term B2 Credit Rating. How Does Credit Rating Model Work? Rating Model for M BANK: We estimate the credit risk parameters by Colpitts Oscillator and Spearman Correlation Credit Ratings for M BANK as of 07 Feb 2022 Credit Rating Short-Term Long-Term Senior AI Rating Class* Ba2 B2 Semantic Signals 65 56 Financial Signals 89 42 Risk Signals 65 77 Substantial Risks 81 39 Speculative Signals 48 49 *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 M BANK Financials: PREMIUM Income Statement: PREMIUM Balance Sheet: PREMIUM Cash Flow: PREMIUM Valuation: PREMIUM Inventory Valuation:

EMBASSY BANCSHARES, INC. Assigned Short-Term Ba3 & 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.EMBASSY BANCSHARES, INC. Assigned Short-Term Ba3 & Long-Term Ba3 Credit Rating. How Does Credit Rating Model Work? Rating Model for EMBASSY BANCSHARES, INC.: We estimate the credit risk parameters by Chaikin Money Flow and Pearson Correlation Credit Ratings for EMBASSY BANCSHARES, INC. as of 07 Feb 2022 Credit Rating Short-Term Long-Term Senior AI Rating Class* Ba3 Ba3 Semantic Signals 63 89 Financial Signals 73 32 Risk Signals 67 73 Substantial Risks 35 33 Speculative Signals 82 86 *Machine Learning utilizes multiple learning algorithms to obtain better predictive powers. In our research, we utilize machine learni

The First National Bank of Long Island Assigned Short-Term B2 & Long-Term Ba3 Credit Rating

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.The First National Bank of Long Island Assigned Short-Term B2 & Long-Term Ba3 Credit Rating. How Does Credit Rating Model Work? Rating Model for The First National Bank of Long Island: We estimate the credit risk parameters by Dynatron Oscillators and Wilcoxon Sign-Rank Test Credit Ratings for The First National Bank of Long Island as of 07 Feb 2022 Credit Rating Short-Term Long-Term Senior AI Rating Class* B2 Ba3 Semantic Signals 67 41 Financial Signals 50 50 Risk Signals 46 71 Substantial Risks 56 79 Speculative Signals 44 80 *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 S

Employers Mutual Casualty Company Assigned Short-Term Ba2 & Long-Term B1 Credit Rating

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.Employers Mutual Casualty Company Assigned Short-Term Ba2 & Long-Term B1 Credit Rating. How Does Credit Rating Model Work? Rating Model for Employers Mutual Casualty Company: We estimate the credit risk parameters by On Balance Volume (OBV) and ANOVA Credit Ratings for Employers Mutual Casualty Company as of 07 Feb 2022 Credit Rating Short-Term Long-Term Senior AI Rating Class* Ba2 B1 Semantic Signals 47 84 Financial Signals 84 40 Risk Signals 78 42 Substantial Risks 71 36 Speculative Signals 63 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