Obbligazioni societarie HIGH YIELD e oltre, verso frontiere inesplorate - Vol. 2

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US87422VAA61 TALEN ENERGY SUP 6.5% 01.06.2025
a 87,9 su Finra non si vede, ma con IW cè sempre uno spread in meno


e prese con IW a 91,6 su Finra non si vede, ma con IW cè sempre uno spread in più

US27890GAB68 Eclipse Resources Corp, 8.875% 15jul2023

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io vendute
US87422VAA61 TALEN ENERGY SUP 6.5% 01.06.2025
a 87,9 su Finra non si vede, ma con IW cè sempre uno spread in meno


e prese con IW a 91,6 su Finra non si vede, ma con IW cè sempre uno spread in più

US27890GAB68 Eclipse Resources Corp, 8.875% 15jul2023

Vedi l'allegato 505931
Montage Resources - Eclipse Resources and Blue Ridge Mountain Resources Announce the Closing of the Strategic Combination, Borrowing Base Increase to $375 Million, Name and Ticker Change, and Completion of Reverse Stock Split

Montage Resources
 
Rating Action:
Moody's changes Avon's outlook to negative; ratings affirmed

05 Mar 2019
Milan, March 05, 2019 -- Moody's Investors Service ("Moody's") has today affirmed Avon Products, Inc.'s (Avon) B1 Corporate Family Rating ("CFR"), its B1-PD Probability of Default Rating (PDR) and the B3 rating of senior unsecured notes. Concurrently, Moody's has affirmed the Ba1 rating of the $500 million senior secured notes due in 2022 of Avon International Operations, Inc.'s ("AIO"), a wholly owned subsidiary of Avon Products Inc. Avon's outlook was changed to negative from stable and Moody's assigned a negative outlook to AIO.



"The change in the outlook to negative reflects Avon's weak operating performance in 2018 and Moody's expectation that cash flow generation will remain under pressure in 2019, with leverage staying at a level not commensurate with the B1 rating" says Lorenzo Re, a Moody's Vice President - Senior Analyst and lead analyst for Avon. "Failure to stabilize sales and to restore profitability in the next few quarters could lead to further negative rating pressure", Mr. Re added.
 

Scientific Games Corp.'s Proposed $1.1 Billion Senior Unsecured Notes Due 2026 Rated 'B-' (Recovery Rating: '5')

  • 05-Mar-2019 10:57 EST
View Analyst Contact Information

NEW YORK (S&P Global Ratings) March 5, 2019--S&P Global Ratings today assigned
its 'B-' issue-level rating and '5' recovery rating to Las Vegas-based gaming
equipment manufacturer Scientific Games Corp.'s proposed $1.1 billion senior
unsecured notes due 2026. The '5' recovery rating indicates our expectation
for modest recovery (10%-30%; rounded estimate: 10%) for lenders in the event
of a payment default. The proposed notes will be issued by Scientific Games'
direct subsidiary, Scientific Games International, Inc. Scientific Games plans
to use the proceeds from these notes to redeem approximately $1.0 billion of
its $2.2 billion of outstanding 10.000% senior unsecured notes due 2022.

This transaction is modestly credit positive because we expect that the new
2026 notes will feature lower interest rates than the redeemed notes, which
will improve the company's cash flow and interest coverage. Additionally, the
transaction will improve Scientific Games' maturity profile because it extends
the maturity of about $1.0 billion of debt by four years. However, the
transaction is largely a debt-for-debt refinancing and does not alter our
base-case forecast for the company's leverage. Therefore, all of our other
ratings on Scientific Games, including our 'B' issuer credit rating, remain
unchanged.
 

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