Obbligazioni societarie HIGH YIELD e oltre, verso frontiere inesplorate - Vol. 2 (6 lettori)

Fabrib

Forumer storico
Consumer goods giants Unilever and Henkel and buyout funds including Advent and Cinven are exploring bids for some of Coty's op beauty brands in a deal worth up to $7 billion, three sources told Reuters.
 

waltermasoni

Caribbean Trader
Rating Action:
Moody's changes Ukraine's outlook to positive from stable, affirms Caa1 rating

22 Nov 2019
London, 22 November 2019 -- Moody's Investors Service ("Moody's") has today changed the outlook on the Government of Ukraine's ratings to positive from stable. At the same time, Ukraine's long-term issuer and senior unsecured ratings have been affirmed at Caa1.



The key drivers for the change in the outlook to positive are:



1. The rebuilding of Ukraine's foreign exchange reserves is reducing external vulnerability in the context of large external repayments; and



2. The improvement of Ukraine's macroeconomic stability and the prospect for renewed reform momentum is strengthening the country's economic resilience.



The affirmation of Ukraine's Caa1 ratings reflects its -- while showing signs of improvement -- significant external vulnerability. The sizeable external debt repayments due over the coming years would -- in the absence of a new International Monetary Fund (IMF) programme -- require continued market access. At the same time, the risk of a new flare-up in geopolitical tensions continues to constrain upward movement in the credit rating at this time.



Concurrently, Moody's has affirmed the Ca rating on the $3 billion Eurobond that Ukraine sold in December 2013. The sole subscriber of the notes was the Russian government. The bond is under dispute due to the international armed conflict between the two governments. The Government of Russia (Baa3 stable) has sued Ukraine for repayment of the bond in English courts, under whose jurisdiction the bond was issued, and the case is set for trial.



Finally, Ukraine's long-term foreign currency bond and deposit ceilings remain unchanged at B3 and Caa2 respectively, while the short-term foreign currency ceilings for bonds and deposits remain Not Prime (NP). The country ceilings for local currency bonds and deposits are also unchanged at B3.
 

waltermasoni

Caribbean Trader



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South Africa Outlook Revised To Negative On Worsening Fiscal And Debt Trajectory; Ratings Affirmed
  • 22-Nov-2019 16:04 EST
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  • Table of Contents
Overview
  • Low GDP growth, upwardly revised fiscal deficits, and a growing debt burden are damaging South Africa's fiscal metrics.
  • Unless the government takes measures to control the fiscal deficit and we see sustained reform momentum, we view debt as unlikely to stabilize within our three-year forecast period.
  • We are therefore revising our outlook on South Africa to negative from stable.
  • We are also affirming our long- and short-term foreign currency ratings on South Africa at 'BB/B', our local currency ratings at 'BB+/B', and our national scale ratings at 'zaAAA/zaA-1+'.
 

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