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Showing posts from March 26, 2022

MUTUALONE BANK Assigned Short-Term B1 & Long-Term Ba3 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.MUTUALONE BANK Assigned Short-Term B1 & Long-Term Ba3 Credit Rating. How Does Credit Rating Model Work? Rating Model for MUTUALONE BANK: We estimate the credit risk parameters by Opto-Electronic Oscillators and Spearman Correlation Credit Ratings for MUTUALONE BANK as of 27 Mar 2022 Credit Rating Short-Term Long-Term Senior AI Rating Class* B1 Ba3 Semantic Signals 78 60 Financial Signals 50 70 Risk Signals 59 81 Substantial Risks 52 70 Speculative Signals 51 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 Mod

SAVILLS PLC Assigned Short-Term B3 & 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.SAVILLS PLC Assigned Short-Term B3 & Long-Term B1 Credit Rating. How Does Credit Rating Model Work? Rating Model for SAVILLS PLC: We estimate the credit risk parameters by Rank Correlation Index (RCI) and Wilcoxon Rank-Sum Test Credit Ratings for SAVILLS PLC as of 27 Mar 2022 Credit Rating Short-Term Long-Term Senior AI Rating Class* B3 B1 Semantic Signals 34 73 Financial Signals 42 89 Risk Signals 82 39 Substantial Risks 57 39 Speculative Signals 34 45 *Machine Learning utilizes multiple learn

Forside Co Ltd Assigned Short-Term B3 & Long-Term Baa2 Credit Rating

Our view of a company's financial policy is an important input when assessing its current and future liquidity position. For instance, we assess whether a company has historically had a higher risk appetite and an aggressive acquisition strategy that has strained its liquidity position, or whether it has taken actions to preserve liquidity in past downturns.Forside Co Ltd Assigned Short-Term B3 & Long-Term Baa2 Credit Rating. How Does Credit Rating Model Work? Rating Model for Forside Co Ltd: We estimate the credit risk parameters by Opto-Electronic Oscillators and Wilcoxon Sign-Rank Test Credit Ratings for Forside Co Ltd as of 27 Mar 2022 Credit Rating Short-Term Long-Term Senior AI Rating Class* B3 Baa2 Semantic Signals 32 74 Financial Signals 43 76 Risk Signals 77 58 Substantial Risks 32 89 Speculative Signals 52 80 *Machine Learning utilizes multiple learning algorithms to obtain better predictive powers. In our research, we utilize machine learn

Tampa State Bankshares Inc. Assigned Short-Term B1 & Long-Term B3 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.Tampa State Bankshares Inc. Assigned Short-Term B1 & Long-Term B3 Credit Rating. How Does Credit Rating Model Work? Rating Model for Tampa State Bankshares Inc.: We estimate the credit risk parameters by Moving Average Convergence Divergence (MACD) and Factor Credit Ratings for Tampa State Bankshares Inc. as of 27 Mar 2022 Credit Rating Short-Term Long-Term Senior AI Rating Class* B1 B3 Semantic Signals 75 74 Financial Signals 82 42 Risk Signals 43 40 Substantial Risks 62 44 Speculative Signals 46 38 *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

Mountain China Resorts Holding Ltd Assigned Short-Term B2 & 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.Mountain China Resorts Holding Ltd Assigned Short-Term B2 & Long-Term B2 Credit Rating. How Does Credit Rating Model Work? Rating Model for Mountain China Resorts Holding Ltd: We estimate the credit risk parameters by Money Flow Index (MFI) and Paired T-Test Credit Ratings for Mountain China Resorts Holding Ltd as of 27 Mar 2022 Credit Rating Short-Term Long-Term Senior AI Rating Class* B2 B2 Semantic Signals 79 63 Financial Signals 35 41 Risk Signals 50 65 Substantial Risks 53 33 Speculati

Emergency Assistance Japan Co Ltd Assigned Short-Term B1 & Long-Term Ba3 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.Emergency Assistance Japan Co Ltd Assigned Short-Term B1 & Long-Term Ba3 Credit Rating. How Does Credit Rating Model Work? Rating Model for Emergency Assistance Japan Co Ltd: We estimate the credit risk parameters by KDJ and ANOVA Credit Ratings for Emergency Assistance Japan Co Ltd as of 27 Mar 2022 Credit Rating Short-Term Long-Term Senior AI Rating Class* B1 Ba3 Semantic Signals 55 44 Financial Signals 43 81 Risk Signals 90 76 Substantial Risks 49 89 Speculative Signals 76 36 *

Under Armour, Inc. Class A Common Stock Assigned Short-Term Ba3 & Long-Term Ba1 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.Under Armour, Inc. Class A Common Stock Assigned Short-Term Ba3 & Long-Term Ba1 Credit Rating. How Does Credit Rating Model Work? Rating Model for Under Armour, Inc. Class A Common Stock: We estimate the credit risk parameters by Cross-Coupled Oscillators and Wilcoxon Rank-Sum Test Credit Ratings for Under Armour, Inc. Class A Common Stock as of 26 Mar 2022 Credit Rating Short-Term Long-Term Senior AI Rating Class* Ba3 Ba1 Semantic Signals 64 83 Financial Signals 64 88 Risk Signals 44 44 Substantial Risks 76 46 Speculative Signals 67 86 *Machine Learning utilizes multiple learning algorithms to obtain better predic

iShares MSCI Emerging Markets Growth Index Fund Assigned Short-Term Ba2 & Long-Term Ba3 Credit Rating

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.iShares MSCI Emerging Markets Growth Index Fund Assigned Short-Term Ba2 & Long-Term Ba3 Credit Rating. How Does Credit Rating Model Work? Rating Model for iShares MSCI Emerging Markets Growth Index Fund: We estimate the credit risk parameters by Adaptive Moving Average and Stepwise Regression Credit Ratings for iShares MSCI Emerging Markets Growth Index Fund as of 26 Mar 2022 Credit Rating Short-Term Long-Term Senior AI Rating Class* Ba2 Ba3 Semantic Signals 85 52 Financial Signals 53 79 Risk Signals 80 35 Substantial Risks 74 87 Speculative Signals 56 72 *Ma

KANSAI PAINT CO., LTD. Assigned Short-Term B2 & Long-Term Ba3 Credit Rating

When assessing strong or exceptional liquidity, we include all forecasted capital expenditures over the next 24 months, including discretionary growth capital spending.KANSAI PAINT CO., LTD. Assigned Short-Term B2 & Long-Term Ba3 Credit Rating. How Does Credit Rating Model Work? Rating Model for KANSAI PAINT CO., LTD.: We estimate the credit risk parameters by Aroon and Simple Regression Credit Ratings for KANSAI PAINT CO., LTD. as of 26 Mar 2022 Credit Rating Short-Term Long-Term Senior AI Rating Class* B2 Ba3 Semantic Signals 74 75 Financial Signals 36 71 Risk Signals 60 80 Substantial Risks 33 63 Speculative Signals 63 39 *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 KANSAI PAINT CO., LTD. Financials: PREMIUM Inc

COMMUNITY BANK Assigned Short-Term B2 & Long-Term B1 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.COMMUNITY BANK Assigned Short-Term B2 & Long-Term B1 Credit Rating. How Does Credit Rating Model Work? Rating Model for COMMUNITY BANK: We estimate the credit risk parameters by EMR and Paired T-Test Credit Ratings for COMMUNITY BANK as of 26 Mar 2022 Credit Rating Short-Term Long-Term Senior AI Rating Class* B2 B1 Semantic Signals 83 40 Financial Signals 36 81 Risk Signals 74 65 Substantial Risks 39 58 Speculative Signals 33 52 *Machine Learning utilizes multiple learning algorithms to obtain b

Metallurgical Corporation of China Ltd. Assigned Short-Term Ba2 & Long-Term Ba2 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.Metallurgical Corporation of China Ltd. Assigned Short-Term Ba2 & Long-Term Ba2 Credit Rating. How Does Credit Rating Model Work? Rating Model for Metallurgical Corporation of China Ltd.: We estimate the credit risk parameters by Pierce Oscillators and Stepwise Regression Credit Ratings for Metallurgical Corporation of China Ltd. as of 26 Mar 2022 Credit Rating Short-Term Long-Term Senior AI Rating Class* Ba2 Ba2 Semantic Signals 68 55 Financial Signals 90 90 Risk Signals 4

ConvaTec Inc. Assigned Short-Term Caa2 & Long-Term B1 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.ConvaTec Inc. Assigned Short-Term Caa2 & Long-Term B1 Credit Rating. How Does Credit Rating Model Work? Rating Model for ConvaTec Inc.: We estimate the credit risk parameters by Expectation and Multiple Regression Credit Ratings for ConvaTec Inc. as of 26 Mar 2022 Credit Rating Short-Term Long-Term Senior AI Rating Class* Caa2 B1 Semantic Signals 65 37 Financial Signals 33 60 Risk Signals 31 47 Substantial Risks 58 79 Speculative Signals 39 79 *Machine Learning utilizes multiple learning algorithms to obtain better p

BANK OF WESTERN OKLAHOMA Assigned Short-Term B2 & Long-Term Ba3 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.BANK OF WESTERN OKLAHOMA Assigned Short-Term B2 & Long-Term Ba3 Credit Rating. How Does Credit Rating Model Work? Rating Model for BANK OF WESTERN OKLAHOMA: We estimate the credit risk parameters by KDJ and Ridge Regression Credit Ratings for BANK OF WESTERN OKLAHOMA as of 26 Mar 2022 Credit Rating Short-Term Long-Term Senior AI Rating Class* B2 Ba3 Semantic Signals 49 89 Financial Signals 62 62 Risk Signals 65 40 Substantial Risks 36 49 Speculative Signals 52 72 *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