NoWay
It's time to play the game
Io ieri ho preso la 2019 US428040CJ69 a 99,375...
Obbligazioni societarie HIGH YIELD e oltre, verso frontiere inesplorate - Vol. 1
- Creatore Discussione TRADING_IDEAS
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Io ieri ho preso la 2019 US428040CJ69 a 99,375...
castellani
Nuovo forumer
Acquisto di ieri
ENSCO US29358QAD16 74,50
ENSCO US29358QAD16 74,50
ginestra
Forumer attivo
OVVIO !!! investe in hy sociatari non nazionali.
lo strumento mi pare utile per poter maggiornamente diversificare il tuo ptf hy obbligazionario , riducendo parecchio il rischio emittente !!! ( l' alternativa sarebbe quella di avere centinaii di singoli titoli hy) va pertanto visto non necessariamente in sostituzione dell'acquisto della singola obbligazione hy ma
a complementp come strumento di riduzione del rischio emittente. tieni conto che ha una duration brevissima ed un rendimento cedolare intorno al 5%. molto liquido tra l'altro , ti permette di ridurre l'esposizione su dotaro ed hy piu facilmente che su otc dove il delta denaro lettera e' spesso ampio. certi titoli poi non li puoi acquistare visto la size.
fabriziof
Forumer storico
ho mandato un reclamo a tlx chiedendo in futuro di essere più corretti
warren baffo
Forumer storico
fabriziof
Forumer storico
può darsi ,hanno appena ristrutturato
Five days ago, Standard and Poor’s Rating Agency lowered Belize’s long term foreign currency rating from a CC to SD meaning Selective Default. In addition to that Belize was moved from the status of Credit Watch with negative implications where it was placed on February 21. In the short term foreign currency rating, Belize was taken from a C to a D rating. Under the long term local currency category Belize remains with a CC rating and a C rating on the short term local currency rating and in the long term local currency rating, the country went from a negative rating to stable. The S & P Rating Agency also noted in their release issued Monday, March 20 that they have lowered their rating on the bonds included in the sovereign’s debt exchange to ‘D’ from ‘CC’. The rationale behind these changes in ratings relates to Belize’s announcement on March 15, 2017, that holders of more than 87% of the U.S. dollar bonds due in 2038 have consented to amendments to the terms of the bonds, which will alter the interest rate and amortization schedule. The collective action clauses relating to the U.S. dollar bonds specify the voting threshold at 75% of bondholders. Above this threshold, the proposed amendments become binding to all holders of such bonds. According to the proposed amendments, the bonds will have a final maturity date of Feb. 20, 2034, instead of Feb. 20, 2038. In addition, the amendments will provide that the principal amount of such bonds will amortize in five equal, annual installments commencing on Feb. 20, 2030, and ending on Feb. 20, 2034; replacing the original amortization schedule, which was previously scheduled to begin in February 2019. Finally, the interest rate on such bonds (which was scheduled to step up to 6.767% on Aug. 20, 2017) will now be fixed for the life of the bonds at 4.9375%. S & P says, quote, “As per our criteria, we characterize this exchange offer as distressed as it is our view that holders of the U.S dollar bonds have accepted less than the originally promised payments because of the risk that the issuer won’t fulfill its original obligations with respect to such bonds. Also, according to our criteria, once a distressed exchange offer has been confirmed (albeit with a future effective date), we lower the issuer rating to ‘SD’ and the affected issue rating to ‘D’.We believe the government is less likely to default on its local currency-denominated debt, and it has made no mention of its intention to restructure this debt. Therefore we affirmed our local currency ratings.The government of Belize expects that the restructuring will become effective by March 21, 2017. Upon completion of the restructuring, we will reassess the sovereign’s general credit standing, most likely raising the foreign currency long term rating to the ‘CCC’ or low ‘B’ categories.” End of quote.
hernan1
Forumer attivo
Anche da leggere dei risultati Q4 & 2016, non tutto sembra bello:
fabriziof
Forumer storico
caro amico ,ho notato che hai gusto a lanciare allarmi ,quando si legge il tuo nome si va subito in agitazione
magari potevi postare il testo completo,della faccenda abbiamo già parlatoEl Salvador downgraded after missing debt payments - Financial Times
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The government missed $28.8m worth of payments due between April 7 and April 10 after the country’s Congress failed to approve a budgetary allocation to cover the payments. Assuming a solution is not found, the total owed is set to rise to $55.2m by the end of this month. An SD rating means S&P believes the state has chosen to default on a specific issue, but “will continue to meet its payment obligations on other issues or classes of obligations”. S&P said “the ability of the government and opposition parties to reach agreement on fiscal policy and improve the sovereign’s access to liquidity will be key to the future credit rating” when the immediate issue of default is solved. The government already had a rating of CCC- with S&P, reflecting what the agency described as its “long-standing monetary and fiscal rigidities, poor growth prospects, and the political polarisation that contributed to the recent missed debt payments”.
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