Obbligazioni societarie HIGH YIELD e oltre, verso frontiere inesplorate - Vol. 1

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J.C. Penney Company, Inc. : J.C. Penney draws down $850 million in funding
04/15/2013| 09:04am US/Eastern
(Reuters) - J.C. Penney Co Inc said on Monday that it had drawn $850 million out of a $1.85 billion revolving credit facility to help buy inventory as it moves past a failed turnaround.

The retailer will use the proceeds to fund working capital needs and capital expenditures, including the replenishment of inventory ahead of the completion of its newly renovated home department next month.

"As we near completion of the home department transformation in over 500 stores, we have been undertaking and will continue to experience a significant inventory build and increase in capital expenditures," said Chief Financial Officer Ken Hannah.

The company also said it would continue to explore additional capital-raising alternatives with the help of its financial advisers.

Shares of Penney were up 0.5 percent at $14.69 in premarket trading.
 
Lupatech S.A. Downgraded To 'D' On Missed Interest Payments On Perpetual Bonds

Publication date: 11-Apr-2013 15:22:25 EST
View Analyst Contact Information
Brazil-based oil and gas equipment and service provider Lupatech missed
the interest payment on its perpetual bonds.
We are lowering our global and national scale corporate credit ratings on
Lupatech to 'D' from 'SD'. At the same time, we are lowering our issue
rating on Lupatech Finance Ltd.'s guaranteed perpetual bonds to 'D' from
'CCC'.
SAO PAULO (Standard & Poor's) April 11, 2013--Standard & Poor's Ratings
Services lowered its global and national scale corporate credit ratings on
Lupatech S.A. (Lupatech) to 'D' from 'SD'. At the same time, we lowered our
issue rating on Lupatech Finance Ltd.'s perpetual bonds to 'D' from 'CCC'.

The downgrade follows the company's April 10, 2013, missed interest payment on
its perpetual bonds. Up until April 10, 2013, the company had depended on
equity infusions in order to honor its financial obligations. "We do not
expect the company to pay the interest due within the 30-day cure period
established by the bond indenture," said Standard & Poor's credit analyst
Renata Lotfi.

We assigned the 'SD' ratings to Lupatech on April 23, 2012, when the company
postponed the interest payment on local debentures mostly held by one of its
shareholders, Banco Nacional de Desenvolvimento Economico e Social (BNDES) in
connection with a capital strengthening plan.

When and if this default is resolved, we will reevaluate the company's credit
quality as it reorganizes its capital structure. Recently, the company hired
Bank of America Merrill Lynch to act as a financial advisor in order to
broadly restructure its debt.

RELATED CRITERIA AND RESEARCH
Timeliness of Payments: Grace Periods, Guarantees, And Use Of 'D' And
'SD' Ratings, Dec. 23, 2010
Complete ratings information is available to subscribers of RatingsDirect at
www.globalcreditportal.com and at www.spcapitaliq.com. All ratings affected by
this rating action can be found on Standard & Poor's public Web site at
www.standardandpoors.com. Use the Ratings search box located in the left
 
J.C. Penney Company, Inc. : J.C. Penney draws down $850 million in funding
04/15/2013| 09:04am US/Eastern
(Reuters) - J.C. Penney Co Inc said on Monday that it had drawn $850 million out of a $1.85 billion revolving credit facility to help buy inventory as it moves past a failed turnaround.

The retailer will use the proceeds to fund working capital needs and capital expenditures, including the replenishment of inventory ahead of the completion of its newly renovated home department next month.

"As we near completion of the home department transformation in over 500 stores, we have been undertaking and will continue to experience a significant inventory build and increase in capital expenditures," said Chief Financial Officer Ken Hannah.

The company also said it would continue to explore additional capital-raising alternatives with the help of its financial advisers.

Shares of Penney were up 0.5 percent at $14.69 in premarket trading.
quali bond segui di penney?
 
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