Credit Rating

Stocks bloodbath as KSE-100 plummets 2,043 points

Moody’s downgr­ade of outloo­k, foreig­n sellin­g and poor econom­ic indica­tors led to panic sellin­g The announcement of Moody’s outlook on Pakistan, where the country was downgraded to negative from stable, also dampened investor sentiment PHOTO: FILE KARACHI: The KSE-100 index plunged by a whopping 2,043 points or 4.7% during the outgoing week, as worrying economic indicators and poor outlook report by a credit ratings agency took toll on the benchmark, pushing it near the 41,500 level. On Tuesday, the first trading…

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Firms flee rating agencies to avoid books scrutiny :: Kenya

Bank of Africa Monrovia branch on Monrovia Street in Nairobi is one of the branches to be closed, the bank has announced plans to make Nairobi the Anglophone regional Information Technology Hub for its operations in a move to enhance its efficiency in customer service on 20th January 2017. [Photo: Wilberforce Okwiri] When Bank of Africa Kenya withdrew its commitment to be scrutinized and graded by South African firm Global Credit rating, their debt position was questioned. GCR had watched…

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RenaissanceRe Holdings: This 5.75% Preferred Stock Has Begun Trading On The NYSE – RenaissanceRe Holdings Ltd. (NYSE:RNR)

Introduction In this article, we want to shed light on a new Preferred Stock issued by RenaissanceRe Holdings Ltd (RNR). Our goal is purely to inform you about the product while refraining ourselves from an investment recommendation. Even though the product may not be of interest to us and our financial objectives, it definitely is worth taking a look at. The New Issue Before we submerge into our brief analysis, here is a link to the 424B5 Filing by RenaissanceRe…

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SEO Locale to Proudly Join the Jenkintown Community With New Offices on Old York Road – Credit Rating News Today

SEO Locale to Proudly Join the Jenkintown Community With New Offices on Old York Road – Credit Rating News Today – EIN News Trusted News Since 1995 A service for global professionals · Saturday, June 23, 2018 · 452,887,447 Articles · 3+ Million Readers News Monitoring and Press Release Distribution Tools Press Releases Events & Conferences Source link

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Austria’s Oberbank set to finance construction of infrastructural projects in Iran

Karbasian, who is in Austrian capital Vienna to participate in 39th Ministerial Meeting of OPEC Development Fund, said that Austria will construct a number of infrastructural projects in Iran using €1 billion worth of finance opened by Oberbank. Construction of an equipped hospital (special of 5th generation) in the field of treatment of cancer and also launch of an iron ore production line are of the salient projects that will be put into operation through Austria’s Oberbank financing scheme, MEAF…

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Goldman Sachs recommends GE suspend dividend

General Electric ended a bad week on an ugly note when Goldman Sachs recommended Friday that the Thomas Edison-founded company suspend its dividend for the first time in 119 years. The bank’s gloomy report came days after the Dow Jones announced it would boot GE from its iconic blue-chip index, where it was the last original member of the 30-company stock gauge. “GE is in a challenging situation,” Goldman analyst Joe Ritchie wrote. Among the bleak prospects for the company…

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Letter: Credit rating nothing to do with mayor

We heard with much flair from Tom Davies Square this week that the City of Greater Sudbury now has an AA credit rating issued by Standard and Poor. Of course, this being a municipal election year, the spin that came out left one with the impression that the reason for this good rating was good financial stewardship and planning on the part of the current council, led by Mayor Brian Bigger. The announcement, and the subsequent spin, highlights a disturbing…

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It may take a calamity to force governments to act on pensions.

In Illinois, even the best-funded public pension systems aren’t well funded at all. Lawmakers have known about this growing crisis for more than two decades but still refuse to act. It’s a head scratcher that’s going to devastate communities and leave future public retirees receiving just pennies on their pension dollars. First, a quick review: • More than 40 percent of Illinois’ cities and villages have municipal pension systems with less than 75 percent of the money needed to fully…

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Challenges may grow with drop in ratings outlook

‘Trade deficit the main reason behind the decline in the ratings outlook’ PHOTO: REUTERS ISLAMABAD: The Islamabad Chamber of Commerce and Industry (ICCI) has expressed fear over the drop in Pakistan’s credit rating outlook from stable to negative in an assessment given by Moody’s credit rating agency. In a statement, the ICCI termed it an unfortunate development as it indicated further challenges for the national economy and called on the government to take urgent measures to improve the economic outlook. Currency…

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Gov. Rauner’s legacy rests with the U.S. Supreme Court

If you’re being bled dry by taxes in Illinois — or in the 21 other states with powerful public-sector unions — you’ll want to pay attention to the U.S. Supreme Court on Monday. And if you’re among the many thousands who’ve already fled or are thinking about running from this corrupt and broken state in the continuing mass taxpayer exodus, you might be interested as well. Because on Monday, the high court is expected to decide a critically important workers’…

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Audit: County ends 2017 with small surplus – News – Bedford Now – Bedford Township, Michigan

It’s the eighth consecutive year the county has ended its fiscal year in the black and shows good stewardship with taxpayers’ money. Monroe County ended 2017 with an operating surplus of $772,422, the eighth year in a row that it finished the year with a fund balance, according to the annual audit. The amount represents 1.74 percent of the final amended budget for 2017, auditor Mark Kettner told county commissioners Tuesday night. Although the amount is slightly lower than the…

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Shame of Sh8b varsities owe the taxman, NHIF and banks :: Kenya

A Government report has unearthed shocking revelations of a Sh8 billion debt universities owe various agencies in Third Party deductions. This, as reports emerged of workers’ embarrassment in hospitals and banking institutions. The report indicates that 26 public universities have not released pension monies to the tune of Sh4.5 billion. University of Nairobi is leading with Sh1.3 billion pensions debt, followed by Sh1.09 billion by Jomo Kenyatta University of Agriculture and Technology (JKUAT). ALSO READ: Employers oppose Government plan on…

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M&A bond binge fans debt worries By Reuters

© Reuters. M&A bond binge fans debt worries By Eleanor Duncan and Davide Scigliuzzo NEW YORK (IFR) – When Campbell Soup came to the investment-grade bond market in March with a $5.3 billion deal to finance its acquisition of Snyder’s-Lance, investor response was lukewarm. Demand was tepid partly because some bond investors didn’t believe the merger would stem a decline in sales – at least not enough to compensate for the increase in the company’s leverage. But the buyside’s wariness…

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AltaGas Announces Closing of the Sale of a 35 Percent Indirect Equity Interest in the Northwest British Columbia Hydro Electric Facilities

CALGARY, June 22, 2018 /CNW/ – AltaGas Ltd. (AltaGas) (TSX: ALA) announced today that it has successfully completed the sale of a 35 percent indirect equity interest in the Northwest British Columbia Hydro Electric Facilities (the “Facilities”) for $922 million, which implies a value of $2.6 billion on a 100 percent basis. The sale of the interest in the Facilities is part of the larger funding strategy related to AltaGas’ acquisition of WGL Holdings, Inc. (“WGL”), and represents almost half…

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Meeting community needs for half a century

WORLAND – For 50 years now HASCO (H.A. Smith Company), owned by Bill and Sandy Smith, has been meeting the community needs by providing requested services for the Big Horn Basin. The H.A. Smith Company, before it became HASCO, was originally owned by Smith’s father, H.A. Smith and was a salvage business. Smith’s father sold the business to a large company out of Montana, which only wanted the site and the building but not the company name, Smith said. When…

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Is my House of Fraser store closing down? Full list of 31 branches confirmed to shut under dramatic restructuring plans – and when

The future of House of Fraser has been made official with plans to shut 31 branches. It comes after bosses warned of ‘underperforming’ stores in May and announced plans to sell a significant stake to Hamleys boss C.banner. The firm, which has previously been consulting on potential cuts, on Friday, revealed it had received the go-ahead from creditors to axe a number of proposed branches. It’ll reduce the chain’s UK store count to just 28, while also placing around 6,000…

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