Credit Rating

APAC banks grapple with growing property risks

Rising property loans and household indebtedness may pose problems for banks’ balance sheets soon. Higher levels of property exposure are raising the associated risks for Asia Pacific’s banking sector with Australian and New Zealand banks exhibiting the highest residential property risk, according to credit rating agency Fitch. Risks will remain high in the two markets as household debt grows due to rising home prices, driving future growth prospects for property loans. Meanwhile, Korean banks, who similarly grapple with high leverage…

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Live: Funeral of three Leicester blast victims

Live: Funeral of three Leicester blast victims – BBC News Summary Funeral for family members killed in Leicester shop explosion Mary Ragoobar and her sons Shane and Sean died in February The Dean of Leicester will lead the funeral at the city’s cathedral The family are survived by dad Jose and youngest brother Scotty Shane’s girlfriend Leah Reek and shop worker Viktorija Ijevleva also died Updates on Friday 20 April 2018 Source link

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Residential funds: buying houses without the hassle

KCR Reit owns ten studio flats in Chelsea With buy-to-let an increasingly unattractive option, residential funds may appeal to more investors. The government launched its build-to-rent scheme in 2012, under which it provided loans to development companies in an attempt to encourage the growth of the private-rented sector (PRS). The scheme has now been replaced by the Home Building Fund, a £3bn fund intended to boost the number of houses built in England. This investment in the sector comes at…

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CARE reaffirms rating of Modison Metals Ltd

The credit rating (rated by Credit Analysis & Research (CARE) LTD.) of Modison Metals Ltd has been reaffirmed to Care A (Single A) for long term bank facilities and for short term bank facilities to Care A 1 (A one). Shares of MODISON METALS LTD. was last trading in BSE at Rs.62 as compared to the previous close of Rs. 61. The total number of shares traded during the day was 17222 in over 73 trades. The stock hit an…

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Russian stocks are cheap for a reason

Russian markets are at the mercy of the US Treasury “You make more money when things go from truly awful to merely bad,” says Arjun Divecha of asset management group GMO, “than when they go from good to great.” So value investors should be eyeing up Russia. Its “relationship with the world is now approaching truly awful”. Since 6 April, when the US announced a new round of sanctions against Russian individuals and firms, the rouble has had its worst…

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KBRA Assigns Preliminary Ratings to PMT ISSUER TRUST – FMSR, Series 2018-FT1 Term Notes

Kroll Bond Rating Agency (KBRA) assigns a rating of ‘BBB- (sf)’ to the Series 2018-FT1 Term Notes from PMT ISSUER TRUST – FMSR, PennyMac Corp. (PMC) master trust issuer of notes backed by participation certificates evidencing participation interest in mortgage servicing rights (MSR) on loans underlying Fannie Mae guaranteed mortgage backed securities. KBRA’s rating on the notes is primarily dependent upon the rating of PennyMac Mortgage Investment Trust (PMT), as guarantor. KBRA’s rating on the Series 2018-FT1 Term Notes is…

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Potential downgrade of state debt could be costly to Virginia, analysis shows | General Assembly

A potential downgrade of Virginia’s credit rating could cost the state dearly in future issues of bonds for capital projects, a new analysis shows, and the issue could become a factor in the budget showdown over Medicaid expansion in the General Assembly. The preliminary assessment by the Public Resources Advisory Group, a New York-based consultant hired by the state, suggests that a downgrade of Virginia’s credit by one or all of the three national bond rating agencies could raise interest…

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Egan-Jones Recommends Negative Vote for Most of Equifax Board due to Current Cybersecurity Rating — Egan-Jones Proxy Services

    PHILADELPHIA – April 18, 2018 – PRLog — Haverford, PA – Egan Jones Proxy Services (EJP) released a report calling for a “withhold” vote for the Board Chair of Equifax, Inc. [EFX], as well as a majority of his fellow Board members. While Egan-Jones generally only recommends a “withhold” for the Board Chair in such cases, we believe the ongoing nature of cybersecurity issues at Equifax demand a stronger response at this time. Specifically, in our report, we…

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Shire rejects $63 bln Takeda bid as Allergan drops pursuit

By Greg Roumeliotis, Ben Martin and Ben Hirschler NEW YORK/LONDON, April 19 (Reuters) – London-listed rare disease drug maker Shire Plc said on Thursday it had rejected a $63 billion cash-and-stock acquisition offer by Japan’s Takeda Pharmaceutical Co, even as their talks continued, while Allergan Plc dropped its rival bid. Botox-maker Allergan confirmed on Thursday it was considering an offer for Shire after Reuters reported on its interest, sending its shares down 7 percent. Later on Thursday, Allergan CEO Brent…

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KBRA Releases RMBS Trend Watch

Kroll Bond Rating Agency (KBRA) has observed a number of notable trends that have emerged or solidified throughout Q1 2018. In this edition of KBRA’s RMBS Trend Watch, we discuss: recent mortgage origination and our expectation for future RMBS 2.0 volume – the latter of which came in at $10.1B in 1Q 2018 – a post-crisis record. the changing landscape for loan-level due diligence, primarily in regard to the application of loan sampling. the increasing inclusion of agency-eligible collateral in…

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PM: People’s investment in PNB will be affected if opposition comes to power | New Straits Times

BATU PAHAT: The people’s investment in Permodalan Nasional Bhd (PNB) will be affected if the opposition were to wrest control of the government with their ‘Pak Pandir’ policy, Datuk Seri Najib Razak said. The Prime Minister said based on the Ministry of Finance’s findings, the abolition of tolls, goods and services tax (GST) and the National Higher Education Fund Corporation, as promised in the opposition manifesto, would increase the national debt to RM1 trillion or 80 per cent of gross…

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Najib: Nation’s debt will cross RM1t if Pakatan policies in place | Malaysia

A report quoted Datuk Seri Najib Razak stressing that removing the GST would not necessarily reduce the prices of goods and services. — Picture by Farhan NajibKUALA LUMPUR, April 19 — Malaysia’s stock market and currency will crash with sovereign debts surpassing RM1 trillion if Pakatan Harapan (PH) implements the policies stated in its GE14 manifesto, Datuk Seri Najib Razak asserted today. The Barisan Nasional (BN) chairman attributed the probability of the scenario he drew happening if the Opposition pact…

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P&G Acquires the Consumer Health Business of Merck KGaA, Darmstadt, Germany

The Procter & Gamble Company PG, -0.29% today announced it has signed an agreement to acquire the Consumer Health business of Merck KGaA, Darmstadt, Germany, for a purchase price of approximately 3.4 billion euro. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180418006692/en/ This acquisition enables P&G to expand its successful consumer health care business…

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