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Showing posts from February 19, 2022

Templeton Global Income Fund, Inc. Common Stock Assigned Short-Term B1 & Long-Term B1 Credit Rating

Likewise, we do not consider factoring programs under sources of liquidity. Unlike asset-based lending (ABL) facilities, factoring is more of a sales transaction and not a loan. In addition, these transactions tend to be very short term. For this reason, we would not consider them a committed source of future liquidity over a 12-month period.Templeton Global Income Fund, Inc. Common Stock Assigned Short-Term B1 & Long-Term B1 Credit Rating. How Does Credit Rating Model Work? Rating Model for Templeton Global Income Fund, Inc. Common Stock: We estimate the credit risk parameters by Bollinger Bands %B and Wilcoxon Sign-Rank Test Credit Ratings for Templeton Global Income Fund, Inc. Common Stock as of 20 Feb 2022 Credit Rating Short-Term Long-Term Senior AI Rating Class* B1 B1 Semantic Signals 75 44 Financial Signals 53 88 Risk Signals 57 37 Substantial Risks 65 89 Speculative Signals 44 42 *Machine Learning utilizes multiple learning algorithms to obtain b

Copart, Inc. Assigned Short-Term Ba3 & Long-Term B2 Credit Rating

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 generally use an estimate of peak CP borrowings at the captive to avoid potentially overstating sources available to the issuer over a 12- to 24-month period.Copart, Inc. Assigned Short-Term Ba3 & Long-Term B2 Credit Rating. How Does Credit Rating Model Work? Rating Model for Copart, Inc.: We estimate the credit risk parameters by Chaikin Oscillator and Ridge Regression Credit Ratings for Copart, Inc. as of 20 Feb 2022 Credit Rating Short-Term Long-Term Senior AI Rating Class* Ba3 B2 Semantic Signals 65 79 Financial Signals 61 54 Risk Signals 51 30 Substantial Risks 66 34 Speculative Signals 89 54 *Machine Learning utilizes multiple learning a

UNION STATE BANK Assigned Short-Term B1 & Long-Term Ba3 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.UNION STATE BANK Assigned Short-Term B1 & Long-Term Ba3 Credit Rating. How Does Credit Rating Model Work? Rating Model for UNION STATE BANK: We estimate the credit risk parameters by OCL and Lasso Regression Credit Ratings for UNION STATE BANK as of 20 Feb 2022 Credit Rating Short-Term Long-Term Senior AI Rating Class* B1 Ba3 Semantic Signals 47 60 Financial Signals 34 46 Risk Signals 70 65 Substantial Risks 75 69 Speculative Signals 73 82 *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 D

SI Financial Group, Inc. Assigned Short-Term B1 & Long-Term Ba2 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.SI Financial Group, Inc. Assigned Short-Term B1 & Long-Term Ba2 Credit Rating. How Does Credit Rating Model Work? Rating Model for SI Financial Group, Inc.: We estimate the credit risk parameters by Commodity Channel Index and Factor Credit Ratings for SI Financial Group, Inc. as of 20 Feb 2022 Credit Rating Short-Term Long-Term Senior AI Rating Class* B1 Ba2 Semantic Signals 73 76 F

Dualtap Co Ltd Assigned Short-Term Ba2 & Long-Term B1 Credit Rating

If, for example, a facility matured in 18 months, we could include the borrowing availability as a source of liquidity in year one, but exclude the amount in year two under the exceptional and strong descriptors (as well as include any drawn portions as debt maturities under uses of liquidity). This is because we do not assume an extension of bank lines--regardless of the company's perceived credit strength or issuer credit rating. For instance, whether the issuer credit rating on the company is speculative grade or investment grade, we do not assume bank lines will be extended beyond the current stated maturity.Dualtap Co Ltd Assigned Short-Term Ba2 & Long-Term B1 Credit Rating. How Does Credit Rating Model Work? Rating Model for Dualtap Co Ltd: We estimate the credit risk parameters by Multi-Wave Oscillators and Polynomial Regression Credit Ratings for Dualtap Co Ltd as of 20 Feb 2022 Credit Rating Short-Term Long-Term Senior AI Rating Class* Ba2 B1 Sema

IWG PLC Assigned Short-Term Baa2 & Long-Term Ba3 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.IWG PLC Assigned Short-Term Baa2 & Long-Term Ba3 Credit Rating. How Does Credit Rating Model Work? Rating Model for IWG PLC: We estimate the credit risk parameters by Money Flow Index (MFI) and Chi-Square Credit Ratings for IWG PLC as of 20 Feb 2022 Credit Rating Short-Term Long-Term Senior AI Rating Class* Baa2 Ba3 Semantic Signals 88 45 Financial Signals 65 73 Risk Signals 80 81 Substantial Risks 67 38 Speculative Signals 89 70 *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

Watahan & Co Ltd Assigned Short-Term Baa2 & Long-Term B3 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.Watahan & Co Ltd Assigned Short-Term Baa2 & Long-Term B3 Credit Rating. How Does Credit Rating Model Work? Rating Model for Watahan & Co Ltd: We estimate the credit risk parameters by Crystal Oscillators and Ridge Regression Credit Ratings for Watahan & Co Ltd as of 20 Feb 2022 Credit Rating Short-Term Long-Term Senior AI Rating Class* Baa2 B3 Semantic Signals 81 59 Financial Signals 74 58 Risk Signals 73 40 Substantial Risks 85 32 Speculative Signals 89 45 *Machine Le

Softmax Co Ltd Assigned Short-Term Ba2 & Long-Term Ba2 Credit Rating

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.Softmax Co Ltd Assigned Short-Term Ba2 & Long-Term Ba2 Credit Rating. How Does Credit Rating Model Work? Rating Model for Softmax Co Ltd: We estimate the credit risk parameters by FS and Spearman Correlation Credit Ratings for Softmax Co Ltd as of 20 Feb 2022 Credit Rating Short-Term Long-Term Senior AI Rating Class* Ba2 Ba2 Semantic Signals 72 34 Financial Signals 86 63 Risk Signals 66 90 Substantial Risks 66 67 Speculative Signals 54 86 *

Geostr Corp Assigned Short-Term B2 & Long-Term B1 Credit Rating

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.Geostr Corp Assigned Short-Term B2 & Long-Term B1 Credit Rating. How Does Credit Rating Model Work? Rating Model for Geostr Corp: We estimate the credit risk parameters by Delay-Line Oscillators and Spearman Correlation Credit Ratings for Geostr Corp as of 20 Feb 2022 Credit Rating Short-Term Long-Term Senior AI Rating Class* B2 B1 Semantic Signals 31 60 Financial Signals 71 48 Risk Signals 42 59 Substantial Risks 45 78 Speculative Signals 76 53 *Machine Learning utilizes multiple learning algo

Zoetis Inc Assigned Short-Term Ba1 & Long-Term B2 Credit Rating

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.Zoetis Inc Assigned Short-Term Ba1 & Long-Term B2 Credit Rating. How Does Credit Rating Model Work? Rating Model for Zoetis Inc: We estimate the credit risk parameters by Bollinger Bands %B and Chi-Square Credit Ratings for Zoetis Inc as of 20 Feb 2022 Credit Rating Short-Term Long-Term Senior AI Rating Class* Ba1 B2 Semantic Signals 90 33 Financial Signals 49 39 Risk Signals 67 38 Substantial Risks

FIRST NATIONAL BANK OF WYNNE Assigned Short-Term B2 & Long-Term B2 Credit Rating

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.FIRST NATIONAL BANK OF WYNNE Assigned Short-Term B2 & Long-Term B2 Credit Rating. How Does Credit Rating Model Work? Rating Model for FIRST NATIONAL BANK OF WYNNE: We estimate the credit risk parameters by Ring Oscillators and ANOVA Credit Ratings for FIRST NATIONAL BANK OF WYNNE as of 20 Feb 2022 Credit Rating Short-Term Long-Term Senior AI Rating Class* B2 B2 Semantic Signals 54 34 Financial Signals 30 42 Risk Signals 43 58 Substantial Risks 77 49 Speculative Signals 68 67 *Machine Learning utilizes multiple learning algorithms to obtain better predictive powers. In our research, we utilize machine learning to combine the results fro

Infinity Property and Casualty Corp. Assigned Short-Term B1 & Long-Term B2 Credit Rating

For example, if a company incurred a large working capital inflow in the fourth quarter, which more than offset working capital outflows during the first three quarters, we would use the peak working capital outflows within our A/B and A-B calculation. However, we avoid double-counting when the working capital outflow is already captured through our assumption of peak CP amount.Infinity Property and Casualty Corp. Assigned Short-Term B1 & Long-Term B2 Credit Rating. How Does Credit Rating Model Work? Rating Model for Infinity Property and Casualty Corp.: We estimate the credit risk parameters by Ring Oscillators and Pearson Correlation Credit Ratings for Infinity Property and Casualty Corp. as of 20 Feb 2022 Credit Rating Short-Term Long-Term Senior AI Rating Class* B1 B2 Semantic Signals 32 64 Financial Signals 78 64 Risk Signals 61 43 Substantial Risks 45 35 Speculative Signals 86 37 *Machine Learning utilizes multiple learning algorithms to obtain bet

ENQUEST PLC Assigned Short-Term Baa2 & Long-Term Ba3 Credit Rating

For example, if a company incurred a large working capital inflow in the fourth quarter, which more than offset working capital outflows during the first three quarters, we would use the peak working capital outflows within our A/B and A-B calculation. However, we avoid double-counting when the working capital outflow is already captured through our assumption of peak CP amount.ENQUEST PLC Assigned Short-Term Baa2 & Long-Term Ba3 Credit Rating. How Does Credit Rating Model Work? Rating Model for ENQUEST PLC: We estimate the credit risk parameters by Price Oscillator (PPO) and Pearson Correlation Credit Ratings for ENQUEST PLC as of 20 Feb 2022 Credit Rating Short-Term Long-Term Senior AI Rating Class* Baa2 Ba3 Semantic Signals 80 79 Financial Signals 80 86 Risk Signals 80 40 Substantial Risks 90 54 Speculative Signals 74 63 *Machine Learning utilizes multiple learning algorithms to obtain better predictive powers. In our research, we utilize machine lear