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. We estimate DBL Dilip Buildcon Limited stock forecast parameters by: Armstrong Oscillator with Independent T-Test DBL Dilip Buildcon Limited Stock Forecast (Buy or Sell) as of 30 Apr 2022 for (n+15) 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 with Armstrong Oscillator and Independent T-Test. Machine Learning based stock forecast (n+15) for DBL Dilip Buildcon Limited as below: Time serie

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. We estimate DTY DIGNITY PLC stock forecast parameters by: Triple Exponential Moving Average (TRIX) with Spearman Correlation DTY DIGNITY PLC Stock Forecast (Buy or Sell) as of 30 Apr 2022 for (n+3m) 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 with Triple Exponential Moving Average (TRIX) and Spearman Correlation. Machine Learning based stock forecast (n+3m) for DTY DIGNITY PLC as below: Time series to forecast n: 30 Apr 2022 for (n+3m) How Does Forecast Model Work? x axis:Likelihood % y axis:Potential Impact % z axis:Color (yellow to green) Technical Analysis %

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. We estimate OIT ODYSSEAN INVESTMENT TRUST PLC stock forecast parameters by: Meissner Oscillators with Wilcoxon Sign-Rank Test OIT ODYSSEAN INVESTMENT TRUST PLC Stock Forecast (Buy or Sell) as of 30 Apr 2022 for (n+3m) 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 with Meissner Oscillators and Wilcoxon Sign-Rank Test. Machine Learning based stock forecast (n+3m) for OIT ODYSSEAN INVESTMENT TRUST PLC as below: Time series to forecast n: 30 Apr 2022 for (n+3m) How Does Fo

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. We estimate FCEF First Trust CEF Income Opportunity ETF stock forecast parameters by: FS with Ridge Regression FCEF First Trust CEF Income Opportunity ETF Stock Forecast (Buy or Sell) as of 30 Apr 2022 for (n+3m) 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 with FS and Ridge Regression. Machine Learning based stock forecast (n+3m) for FCEF First Trust CEF Income Opportunity ETF as below: Time series to forecast n: 30 Apr 2022 for (n+3m) How Does Forecast Model Work? x axis:Likelihood % y axis:Potential Impact % z axis:Color (yellow to green) Technical Analy

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. We estimate GEC Great Elm Capital Group stock forecast parameters by: Keltner Channels with Logistic Regression GEC Great Elm Capital Group Stock Forecast (Buy or Sell) as of 30 Apr 2022 for (n+7) 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 with Keltner Channels and Log

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. We estimate GARFIBRES Garware Technical Fibres Limited stock forecast parameters by: Pearson-Anson Oscillators with Pearson Correlation GARFIBRES Garware Technical Fibres Limited Stock Forecast (Buy or Sell) as of 30 Apr 2022 for (n+1y) 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 with Pearson-Anson Oscillators and Pearson Correlation. Machine Learning based stock forecast (n+1y) for GARFIBRES Garware Technical Fibres Limited as below: Time series to forecast n: 30 Apr 2022 for (n+1y) How Does Forecast Model Work? x axis:Likelihood % y axis:Potential Impact % z axis:Color (yellow to green) Technical Analysis %

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. We estimate BSML Invesco BulletShares 2021 Municipal Bond ETF stock forecast parameters by: Rating with Sign Test BSML Invesco BulletShares 2021 Municipal Bond ETF Stock Forecast (Buy or Sell) as of 30 Apr 2022 for (n+3m) 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 with Rating and Sign Test. Machine Learning based stock forecast (n+3m) for BSML Invesco BulletShares 2021 Municipal Bond ETF as below: Time series to forecast n: 30 Apr 2022 for (n+3m) How Does Forecast M

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. We estimate MAANALU Maan Aluminium Limited stock forecast parameters by: EMR with Pearson Correlation MAANALU Maan Aluminium Limited Stock Forecast (Buy or Sell) as of 30 Apr 2022 for (n+1y) 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 with E

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. We estimate URGN UroGen Pharma Ltd. stock forecast parameters by: Modified (Smoothed) Moving Average with Wilcoxon Rank-Sum Test URGN UroGen Pharma Ltd. Stock Forecast (Buy or Sell) as of 30 Apr 2022 for (n+1y) 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 with Modified (Smoothed) Moving Average and Wilcoxon Rank-Sum Test. Machine Learning based stock forecast (n+1y) for URGN UroGen Pharma Ltd. as below: Time series to forecast n: 30 Apr 2022 for (n+1y) How Does Forecast Model Work? x

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. We estimate SIM SIMIGON LD stock forecast parameters by: Dynatron Oscillators with Logistic Regression SIM SIMIGON LD Stock Forecast (Buy or Sell) as of 30 Apr 2022 for (n+1y) 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 with Dynatron Oscillators and Logistic Regression. Machine Learning based stock forecast (n+1y) for SIM SIMIGON LD as below: Time series to forecast n: 30 Apr 2022 for (n+1y) How Does Forecast Model Work? x axis:Likelihood % y axis:Potential Impact % z axis:Color (yellow to green) Technical Analysis %

In our assessment of a company's liquidity, we also consider the impact of unique industry characteristics. We estimate GAL Gyscoal Alloys Limited stock forecast parameters by: Rank Correlation Index (RCI) with Lasso Regression GAL Gyscoal Alloys Limited Stock Forecast (Buy or Sell) as of 30 Apr 2022 for (n+15) 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 with Rank Correlation Index (RCI) and Lasso Regression. Machine Learning based stock forecast (n+15) for GAL Gyscoal Alloys Limited as below: Time series to forecast n: 30 Apr 2022 for (n+15) How Does Forecast Model Work? x axis:Likelihood % y axis:Potential Impact % z axis:Color (yellow to green) Technical Analysis %

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). We estimate INDOSTAR IndoStar Capital Finance Limited stock forecast parameters by: Relative Strength Index (RSI) with Wilcoxon Rank-Sum Test INDOSTAR IndoStar Capital Finance Limited Stock Forecast (Buy or Sell) as of 30 Apr 2022 for (n+6m) 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 with Relative Strength Index (RSI) and Wilcoxon Rank-Sum Test. Machine Learning based stock forecast (n+6m) for INDOSTAR IndoStar Capital Finance Limited as below: Time series to forecast n: 30 Apr 2022 for (n+6m) How Does Forecast Model Work? x axis:L

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). We estimate SPLK Splunk Inc. stock forecast parameters by: Speculation with Pearson Correlation SPLK Splunk Inc. Stock Forecast (Buy or Sell) as of 30 Apr 2022 for (n+15) 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 with Speculation and Pearson Correlation. Machine Learning based stock forecast (n+15) for SPLK Splunk Inc. as below: Time series to forecast n: 30 Apr 2022 for (n+15) How Does Forecast Model Work? x axis:Likeli