Credit Rating

ADP Corrects False and Misleading Statements by Pershing Square – Credit Rating News Today

/EINPresswire.com/ — ROSELAND, NJ–(Marketwired – Oct 31, 2017) – ADP (NASDAQ: ADP) today issued the following statement: “ADP strongly rejects the false and misleading statements made yesterday by Pershing Square’s Bill Ackman in his various press releases and his 18-page letter to Institutional Shareholder Services (ISS). Consistent with our responsibilities under Regulation FD and ISS’ long-standing policy, ADP has not disclosed any material non-public information in its meetings with ISS or any other party. Our discussion with ISS was based…

0
Read More

Treasurer Ben Wyatt says Liberals put WA’s credit rating at risk by blocking gold tax

RATINGS agency S&P expects a higher GST share in coming years will bring WA’s budget back to surplus, but warns the state government’s cost savings and revenue targets may fall short, leaving longer-than-expected deficits. The ratings agency affirmed WA’s AA+ credit rating on Tuesday, saying the outlook remained negative, reflecting continued risks to the state achieving its cost savings and revenue targets. Treasurer Ben Wyatt said the report showed the decision by the Liberal and National Party to block the…

0
Read More

Technology transformation progressing alongside solid growth

Tuesday, 31 October 2017, 3:28 pmPress Release: NZCU Baywide Credit Union 31st October 2017 Technology transformation progressing alongside year of solid growth NZCU Baywide provided an upbeat summary at its AGM last night in Havelock North, reporting ongoing progress with its core-banking system upgrade, a 6 per cent growth in assets to $312m and a healthy financial position with reserves of $39.9m. Chief Executive Gavin Earle said the year to June 2017 has been one of investing in core infrastructure…

0
Read More

KBRA Announces the Creation of Its Monthly Auto Loan Indices

NEW YORK, Oct 30, 2017 (BUSINESS WIRE) — Kroll Bond Rating Agency (KBRA) has published its prime and non-prime auto loan ABS indices for the first time, providing high-level commentary, as well as making the underlying data available to investors. The indices include data from all outstanding securitized auto loan collateral pools, not just from deals that KBRA rates. The report makes the following key points: Credit performance continued to weaken across auto loan ABS collateral pools in September (as…

0
Read More

Fitch: Cloud Migration Remains a Long-Term Driver for HY Tech Cos.

(The following statement was released by the rating agency) Link to Fitch Ratings’ Report: High-Yield Technology Handbook (A Detailed Review of High-Yield Companies in the U.S. and Canada Technology Sector) here CHICAGO, October 30 (Fitch) Cloud migration and related secular trends continue to anchor high-yield tech companies’ long-term prospects, according to the first edition of Fitch Ratings’ High-Yield Technology Handbook. “The digital transformation of content, explosion of data and shift to cloud technology have disrupted IT infrastructure and software but…

0
Read More

Standard & Poor’s affirms Pakistan’s ‘B’ ratings with stable outlook | Business

ISLAMABAD: The global rating agency, Standard & Poor’s Global Ratings (S&P), in its report on Monday affirmed Pakistan’s long-term ”B” and short-term sovereign credit rating. The outlook for the long-term ratings remains stable, according to the report. Affirmation of Pakistan’s rating reflects that economic prospects remain favourable and external and fiscal metrics of the country will not worsen materially from their current level, according to statement issued by the Finance Ministry here Monday. Standard & Poor’s expects the Government of…

0
Read More

Fitch Revises Gramercy’s Outlook to Negative; Affirms IDR at ‘BBB’

(The following statement was released by the rating agency) NEW YORK, October 30 (Fitch) Fitch Ratings has affirmed the ratings of Gramercy Property Trust (NYSE: GPT) at ‘BBB’. The Rating Outlook has been revised to Negative from Stable. A full list of rating actions follows at the end of the release. KEY RATING DRIVERS The Negative Outlook primarily reflects Fitch’s expectation that, absent deleveraging actions, GPT’s leverage will remain in the low to mid-6.0x range throughout the ratings horizon, which…

0
Read More

Fitch Sees Deutsche Bank’s Earnings Pressure Continuing after Poor 3Q17

(The following statement was released by the rating agency) LONDON, October 30 (Fitch) Fitch Ratings says Deutsche Bank is set to see weak earnings for full-year 2017 after it continued to report a disappointing result in 3Q17 and due to a sizeable restructuring charge anticipated by management in the fourth quarter. In its latest results, the bank reported a return on tangible equity (RoTE) of 4.5% for the quarter and 4.1% for 9M17, well below its self-imposed longer-term target of…

0
Read More

Angola’s president makes ‘unexpected’ moves to rein in dos Santos

Angolan President João Lourenço (above) is making swift moves to wrest power from his predecessor. Picture: Bruno Fonseca/AP Luanda – Angola’s new President João Lourenço is making swift moves to wrest power from his predecessor Jose Eduardo dos Santos, pushing out some of his key allies and vowing to combat monopolies controlled by a family that has run Angola for four decades. Dos Santos, 75, handpicked Lourenço, 63, to succeed him when he stepped down last month after 38 years…

0
Read More

Voters to decide on North Canton charter issues and council seats – News – The Suburbanite

Eric Poston TheSuburbanite.com correspondent NORTH CANTON  Voters in North Canton will decide on seven changes to the city’s charter along with a race for three at-large council seats and races in two of the city’s wards. COUNCIL AT-LARGE For North Canton City Council At-Large, four candidates are running for three seats. Incumbents Mark Cerreta, Daniel Griffith and Marcia Kiesling are all seeking re-election, but are being challenged by former mayor and councilman Daryl Revoldt. WHY ARE YOU RUNNING…

0
Read More

All eyes on Malloy and whether he’ll sign state budget deal

It took nearly four months of extra innings negotiations, but Connecticut lawmakers finally managed last week to pass a bipartisan tax-and-spending plan for the fiscal year that began July 1. Now, all eyes are on Democratic Gov. Dannel P. Malloy, who was not part of the closed-door budget talks among legislative leaders, to see whether he will sign the two-year, $41.3 billion plan. But it’s questionable whether a gubernatorial veto could scuttle the progress made toward finally ending the nearly…

0
Read More

Alec MacGillis: The left-behind places

(Last month, Alec MacGillis, who was a “Monitor” reporter nearly 20 years ago before moving on to larger news operations, was awarded the Elijah Parish Lovejoy Award for courage in journalism. Lovejoy, a graduate of Colby College in Waterford, Maine, was a crusading abolitionist editor who was murdered for his stance in 1837. MacGillis accepted the award on Oct. 2 at Colby, where he gave the following speech at the college’s Lorimer Chapel. It has been edited for length.) It…

0
Read More

How to avoid the IMF

Now what? Finance Minister Malusi Gigaba. Picture: Reuters Johannesburg – Finance Minister Malusi Gigaba and the government need a politically palatable plan to get out of the low-growth debt trap and avoid the country’s finances going to hell. This picture was driven by poor growth and massive debt that could see South Africa slide further into “junk” credit rating status and even seeking an International Monetary Fund (IMF) bailout from 2022 onwards. Two major rating agencies are expected to review…

0
Read More

WeChat phenomenon: How a messaging app helped spark China’s cashless revolution

SINGAPORE: The year was 2014, and cash still reigned supreme in China. Even while mobile payments were making their presence felt, they were mainly confined to online purchases, and it was not unheard of for people to pay in huge sums of cash for a car or house. At internet giant Tencent Holdings, the maker of mobile messaging app WeChat, the makings of a social and economic phenomenon were taking shape. It was a tradition that on the first working…

0
Read More
About

Business on the Web provides the latest Business News: Breaking Personal Finance, Company,  Financial and Economic News.

Our blogs are an excellent place for technology professionals to get up-to-date industry news. Blogging about the hottest education technology issues.

Social Links