Credit Rating

Correction: Fitch Revises Autonomous Community of the Canary Islands’ Outlook to Positive

[ad_1] (The following statement was released by the rating agency) BARCELONA, November 22 (Fitch) This announcement replaces the version published on 20 October 2017 to correct the Short-Term Foreign Currency IDR to ‘F2’ from ‘F3′. Fitch Ratings has revised the Autonomous Community of the Canary Islands’ Outlook to Positive from Stable while affirming the region’s Long-Term Foreign and Local Currency Issuer Default Ratings (IDR) at ‘BBB’. The Short-Term Foreign Currency IDR has been affirmed at ‘F2’. The ‘BBB’ ratings on…

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The transition begins for Mayor Cantrell and New Orleans | Editorial

[ad_1] LaToya Cantrell made history Saturday (Nov. 18) as the first woman elected mayor in New Orleans’ almost 300-year history. She also is the rare mayor who wasn’t born here. She is a native of California, who moved to the city to attend Xavier University in 1990 and decided to stay. It is a bit surprising that New Orleans, a city with progressive attitudes, is only now joining Baton Rouge and Shreveport with a woman as mayor. Ms. Cantrell made…

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Fitch Publishes 9M17 Russian Banks Datawatch

[ad_1] (The following statement was released by the rating agency) Link to Fitch Ratings’ Report: Russian Banks Datawatch 9M17 here MOSCOW/LONDON, November 22 (Fitch) Fitch Ratings has published the latest edition of the “Russian Banks Datawatch”, a monthly publication of spreadsheets with key data from Russian banks’ statutory accounts. The publication includes: – Balance sheet numbers as of 1 October 2017, as well as changes during September 2017 and since 1 January 2017 – Profit and loss statement for 9M17…

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Fitch Upgrades Indonesia’s MPMF to ‘AA-(idn)’; Outlook Stable

[ad_1] (The following statement was released by the rating agency) JAKARTA, November 22 (Fitch) Fitch Ratings Indonesia has upgraded PT Mitra Pinasthika Mustika Finance’s (MPMF) National Long-Term Rating to ‘AA-(idn)’ from ‘A-(idn)’ and its National Short-Term Rating to ‘F1+(idn)’ from ‘F1(idn)’. The Rating Watch Positive, in place since 9 February 2017, has been resolved and the Outlook is Stable. The rating actions follow the sale of a 20% equity interest in MPMF by PT Mitra Pinasthika Mustika Tbk (MPM; BB-/Stable),…

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Global investors: Modi government should not cheer Moody’s recent upgrade. Read why

[ad_1] It lasted 6 hours and 20 minutes. Moody’s Investors Service’s upgrade of sovereign ratings was a stamp of approval for the macroeconomic fundamentals of the nation that was to make borrowing less expensive for the state. It did, but only temporarily. The yield on the benchmark government bonds fell 12 basis points, or as low as 6.94%, in a matter of minutes after trading began last Friday. But even before the ink was dry, it climbed back to end…

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DataBank Announces Successful Completion of Secured Debt Refinancing

[ad_1] Company secures seven-year $410 million credit facility to support expansion plans and lower cost of capital DALLAS (PRWEB) November 21, 2017 DataBank, Ltd., a Digital Bridge portfolio company and leading provider of business solutions for data center, cloud, interconnectivity and managed services, today announced it has completed a $410 million Term Loan B credit facility, providing DataBank with additional capital at a lower cost and flexibility to support the company’s near and long-term growth objectives. The new facility includes…

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NAFTA round wrapping up, ‘significant differences’ remain

[ad_1] MEXICO CITY (Reuters) – The United States, Mexico and Canada were wrapping up a fifth round of talks to update NAFTA on Tuesday with major differences yet to be resolved, casting doubt on whether a deal could be reached by the end of March 2018 as planned. Flags are pictured during the fifth round of NAFTA talks involving the United States, Mexico and Canada, in Mexico City, Mexico, November 19, 2017. REUTERS/Edgard Garrido The 1994 North American Free Trade…

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Fitch revises outlook of four Hungarian banks to positive | The Budapest Business Journal on the web

[ad_1]  BBJ  Tuesday, November 21, 2017, 09:01 Fitch Ratings revised the outlook on four Hungarian banks from “stable” to “positive” on Monday.  The move followed a similar revision of Hungaryʼs long-term foreign and local currency Issuer Default Ratings (IDRs) from “stable” to “positive,” when Fitch also affirmed the IDRsʼ ʼBBB-ʼ rating in a scheduled rating action on November 10.   On Monday afternoon, Fitch announced in London that it had upgraded the outlook on the state-owned Magyar Export-Import Bank (Eximbank) and…

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Saudi gets top currency credit ratings, stable outlook

[ad_1] S&P Global Ratings has affirmed its ‘A-/A-2’ unsolicited long- and short-term foreign and local currency sovereign credit ratings on Saudi Arabia with a stable outlook.   The ratings are based on expectation that the Saudi authorities will take steps to consolidate public finances and maintain government liquid assets close to 100 per cent of GDP over the next two years, said the statement from the top ratings agency.   The S&P ratings are supported by the kingdom’s strong external…

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Rupee gains 22 paise against US dollar today

[ad_1] Today, the rupee advanced as much as 22 paise to close at 64.89 apiece US dollar. The Indian rupee gained 22 paise against the US dollar at the interbank foreign exchange market on Tuesday. In the early trade, the domestic currency opened a little higher at 65.08 from its Monday’s closing price but later extended gains to settle 22 paise higher. Today, the rupee advanced as much as 22 paise to close at 64.89 apiece US dollar, while it made a…

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Fitch Updates Denmark Residential Loss Criteria Addendum; No Rating Impact

[ad_1] (The following statement was released by the rating agency) Link to Fitch Ratings’ Report: Denmark Residential Mortgage Rating Criteria Addendum here LONDON, November 21 (Fitch) Fitch Ratings has updated its Denmark Residential Mortgage Rating Criteria Addendum assumptions. The criteria assumptions are used for analysing Danish residential mortgages in covered bond programmes. The changes are not expected to impact any existing ratings. The main changes relate to the frequency of foreclosure assumptions for adjustable rate mortgages (ARMs). The foreclosure frequency…

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Fitch Confirms Rating on UOB’s AUD400m Senior Unsecured Notes at ‘AA-‘

[ad_1] (The following statement was released by the rating agency) SINGAPORE, November 21 (Fitch) Fitch Ratings has confirmed the rating on United Overseas Bank Limited’s (UOB, AA-/Stable) Australian dollar-denominated senior unsecured floating-rate notes due 28 November 2018 at ‘AA-‘. The final issue size is AUD400 million. The notes will be issued through UOB’s Sydney branch under the parent bank’s SGD15 billion Euro medium-term note programme. KEY RATING DRIVERS The notes are rated at the same level as UOB’s Long-Term Issuer…

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Glass half full – Upgrade vindicates fundamentals, but for economy to take off bold reform steps are needed

[ad_1] Last week when Moody’s, one of the world’s top three credit ratings agencies, raised India’s sovereign rating after nearly 14 years, the responses to it demonstrated the nation’s sharply divided politics. While the government understandably tom-tommed it as proof that its policies were succeeding, opposition leaders almost universally derided it. In reality, it is indeed a vindication of improvements in the fundamentals of India’s economy. It will ease access to credit, help attract investment, and boost job creation. While…

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Fitch Rates UOB’s AUD300m Senior Unsecured Notes ‘AA-‘

[ad_1] (The following statement was released by the rating agency) SINGAPORE, November 20 (Fitch) Fitch Ratings has assigned United Overseas Bank Limited’s (UOB, AA-/Stable) AUD300 million senior unsecured floating-rate notes due 28 November 2018 a rating of ‘AA-‘. The notes will be issued through UOB’s Sydney branch under the parent bank’s SGD15 billion euro medium-term note programme. KEY RATING DRIVERS The notes are rated at the same level as UOB’s Long-Term Issuer Default Rating (IDR), as they constitute its direct,…

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China’s Move to Limit Risk Misses the Problem With Bonds: Gadfly

[ad_1] By Shuli Ren | Bloomberg By Shuli Ren | Bloomberg November 20 at 4:00 PM In attempting to head off a Bernie Madoff moment, China has set the stage for an even deeper bond market rout. Ten-year government note yields last week hit the psychologically important 4 percent level  as investors braced for sweeping rules to curb risks in the country’s $15 trillion asset-management industry. Caving into social pressure, banks in China have been bailing out wealth-management products that have gone bad.…

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India’s journey from Fragile Five to favoured investment destination

[ad_1] Moody’s Investor Services’s has upgraded India’s credit ratings to Baa2 from Baa3 and changed its India outlook to ‘positive’ from ‘neutral’, a first in 14 years. Photo: Bloomberg Moody’s Investors Service’s decision to upgrade India’s local and foreign currency issuer ratings after 13 years has ignited a debate on the health of the Indian economy and how far the upgrade reflects it. The government and its supporters have been quick to claim that the upgrade reflects a validation of…

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