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Showing posts from March 2, 2022

Beauty Kadan Co., Ltd. Assigned Short-Term B1 & Long-Term B1 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.Beauty Kadan Co., Ltd. Assigned Short-Term B1 & Long-Term B1 Credit Rating. How Does Credit Rating Model Work? Rating Model for Beauty Kadan Co., Ltd.: We estimate the credit risk parameters by Profit and Wilcoxon Rank-Sum Test Credit Ratings for Beauty Kadan Co., Ltd. as of 03 Mar 2022 Credit Rating Short-Term Long-Term Senior AI Rating Class* B1 B1 Semantic Signals 78 69 Financial Signals 60 57 Risk Signals 62 52 Substantial Risks 35 60 Speculative Signals 59 46 *Machine Learnin

Xinyuan Real Estate Co Ltd American Depositary Shares Assigned Short-Term Ba2 & Long-Term Ba1 Credit Rating

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 comprehensive view of a company's future liquidity position.Xinyuan Real Estate Co Ltd American Depositary Shares Assigned Short-Term Ba2 & Long-Term Ba1 Credit Rating. How Does Credit Rating Model Work? Rating Model for Xinyuan Real Estate Co Ltd American Depositary Shares: We estimate the credit risk parameters by Gunn Oscillator and Lasso Regression Credit Ratings for Xinyuan Real Estate Co Ltd American Depositary Shares as of 03 Mar 2022 Credit Rating Short-Term Long-Term Senior AI Rating Class* Ba2 Ba1 Semantic Signals 55 77 Financial Signals 47 85 Risk Signals 72 52 Substantial Risks 83 75 Speculative Sign

DEFIANCE STATE BANK Assigned Short-Term B3 & Long-Term B2 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.DEFIANCE STATE BANK Assigned Short-Term B3 & Long-Term B2 Credit Rating. How Does Credit Rating Model Work? Rating Model for DEFIANCE STATE BANK: We estimate the credit risk parameters by Rate of Change (ROC) and Wilcoxon Rank-Sum Test Credit Ratings for DEFIANCE STATE BANK as of 03 Mar 2022 Credit Rating Short-Term Long-Term Senior AI Rating Class* B3 B2 Semantic Signals 44 84 Financial Signals 35 46 Risk Signals 37 37 Substantial Risks 73 53 Speculative Signals 53 38 *Machine Learning utilizes multiple learning algorithms to obtain better predictive powers. In our research, we utilize machine learning to combine th

CITIZENS STATE BANK Assigned Short-Term Ba1 & Long-Term B1 Credit Rating

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).CITIZENS STATE BANK Assigned Short-Term Ba1 & Long-Term B1 Credit Rating. How Does Credit Rating Model Work? Rating Model for CITIZENS STATE BANK: We estimate the credit risk parameters by Sustainability and Multiple Regression Credit Ratings for CITIZENS STATE BANK as of 03 Mar 2022 Credit Rating Short-Term Long-Term Senior AI Rating Class* Ba1 B1 Semantic Signals 78 40 Financial Signals 76 67 Risk Signals 55 85 Substantial Risks 67 52 Speculative Signals 82 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

Elmer Bancorp Inc. Assigned Short-Term Ba3 & Long-Term B1 Credit Rating

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.Elmer Bancorp Inc. Assigned Short-Term Ba3 & Long-Term B1 Credit Rating. How Does Credit Rating Model Work? Rating Model for Elmer Bancorp Inc.: We estimate the credit risk parameters by Crystal Oscillators and Sign Test Credit Ratings for Elmer Bancorp Inc. as of 03 Mar 2022 Credit Rating Short-Term Long-Term Senior AI Rating Class* Ba3 B1 Semantic Signals 59 90 Financial Signals 64 64 Risk Signals 53 58 Substantial Risks 64 30 Speculative Signals 78 52 *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 Elmer Bancorp Inc. Financials: PREMIUM Income

Ball Corporation Assigned Short-Term B2 & Long-Term B2 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.Ball Corporation Assigned Short-Term B2 & Long-Term B2 Credit Rating. How Does Credit Rating Model Work? Rating Model for Ball Corporation: We estimate the credit risk parameters by OCL and Multiple Regression Credit Ratings for Ball Corporation as of 03 Mar 2022 Credit Rating Short-Term Long-Term Senior AI Rating Class* B2 B2 Semantic Signals 41 51 Financial Signals 87 34 Risk Signals 59 84 Substantial Risks 43 54 Speculative Signals 48 40 *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 N

Mediacom Communications Corporation Assigned Short-Term Caa2 & Long-Term B1 Credit Rating

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).Mediacom Communications Corporation Assigned Short-Term Caa2 & Long-Term B1 Credit Rating. How Does Credit Rating Model Work? Rating Model for Mediacom Communications Corporation: We estimate the credit risk parameters by Speculation and ElasticNet Regression Credit Ratings for Mediacom Communications Corporation as of 03 Mar 2022 Credit Rating Short-Term Long-Term Senior AI Rating Class* Caa2 B1 Semantic Signals 33 74 Financial Signals 63 47 Risk Signals 61 71 Substantial Risks 39 64 Speculative Signals 30 48 *Machine Learning utilizes multiple learning algorithms to obtain better predictive powers. In our research, we utilize machine learning to

Tiptree Financial Inc. Assigned Short-Term Ba3 & Long-Term Ba3 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.Tiptree Financial Inc. Assigned Short-Term Ba3 & Long-Term Ba3 Credit Rating. How Does Credit Rating Model Work? Rating Model for Tiptree Financial Inc.: We estimate the credit risk parameters by Tuned Collector Oscillator and Independent T-Test Credit Ratings for Tiptree Financial Inc. as of 03 Mar 2022 Credit Rating Short-Term Long-Term Senior AI

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

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.Adept Technology, Inc. Assigned Short-Term B2 & Long-Term B1 Credit Rating. How Does Credit Rating Model Work? Rating Model for Adept Technology, Inc.: We estimate the credit risk parameters by Tri-tet Oscillators and Independent T-Test Credit Ratings for Adept Technology, Inc. as of 03 Mar 2022 Credit Rating Short-Term Long-Term Senior AI Rating Class* B2 B1 Semantic Signals 47 41 Financial Signals 46 73 Risk Signals 44 50 Substantial Risks 59 89 Speculative Signals 66 4

Lasalle Logiport Reit Assigned Short-Term Caa2 & Long-Term Baa2 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.Lasalle Logiport Reit Assigned Short-Term Caa2 & Long-Term Baa2 Credit Rating. How Does Credit Rating Model Work? Rating Model for Lasalle Logiport Reit: We estimate the credit risk parameters by Rate of Change (ROC) and Chi-Square Credit Ratings for Lasalle Logiport Reit as of 02 Mar 2022 Credit Rating Short-Term Long-Term Senior AI Rating Class* Caa2 Baa2 Semantic Signals 39 55 Financial Signals 32 90 Risk Signals 59 67 Substantial Risks 31 74 Speculative Signals 56 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 Ma

Fulcrum Therapeutics Inc Assigned Short-Term Ba2 & Long-Term Ba3 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.Fulcrum Therapeutics Inc Assigned Short-Term Ba2 & Long-Term Ba3 Credit Rating. How Does Credit Rating Model Work? Rating Model for Fulcrum Therapeutics Inc: We estimate the credit risk parameters by Pierce Oscillators and Wilcoxon Sign-Rank Test Credit Ratings for Fulcrum Therapeutics Inc as of 02 Mar 2022 Credit Rating Short-Term Long-Term Senior AI Rating Class* Ba2 Ba3 Semantic Signals 70 54 Financial Signals 76 75 Risk Signals 44 49 Substantial Risks 71 71 Speculative Signals 78 67 *Machine Learning utilizes mul

Infibeam Avenues Limited Assigned Short-Term B2 & Long-Term B3 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.Infibeam Avenues Limited Assigned Short-Term B2 & Long-Term B3 Credit Rating. How Does Credit Rating Model Work? Rating Model for Infibeam Avenues Limited: We estimate the credit risk parameters by OCL and Lasso Regression Credit Ratings for Infibeam Avenues Limited as of 02 Mar 2022 Credit Rating Short-Term Long-Term Senior AI Rating Class* B2 B3 Semantic Signals 90 40 Financial Signals 31 40 Risk Signals 52 43 Substantial Risks 52 54 Speculative Signals 38 31 *Machine Learning utilizes multiple learning algorithms

Aerosun Corporation Assigned Short-Term B2 & Long-Term Ba3 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.Aerosun Corporation Assigned Short-Term B2 & Long-Term Ba3 Credit Rating. How Does Credit Rating Model Work? Rating Model for Aerosun Corporation: We estimate the credit risk parameters by Gunn Oscillator and Logistic Regression Credit Ratings for Aerosun Corporation as of 02 Mar 2022 Credit Rating Short-Term Long-Term Senior AI Rating Class* B2 Ba3 Semantic Signals 62 42 Financial Signals 30 81 Risk Signals 75 74 Substantial Risks 33 77 Speculative Signals 88 47 *Machine Learning utilizes multiple