Obbligazioni societarie HIGH YIELD e oltre, verso frontiere inesplorate - Vol. 2
- Creatore Discussione gionmorg
- Data di Inizio
fabriziof
Forumer storico
Taglio 100k?
Si
Però possibilmente una volta terminato il collocamento quando sarà sul secondario sarà taglio €1’000
…forse….
afrikabrass
Forumer attivo
stranezze non tanto strane... ma potrebbe essere un'opportunità...
Fitch Ratings - Monterrey - 28 Sep 2021: Fitch Ratings has affirmed Credito Real, S.A.B. de C.V., SOFOM, E.N.R.'s (Credito Real) Long-Term (LT) Foreign and Local Currency Issuer Default Rating (IDRs) IDRs at 'BB' and Short-Term Foreign and Local Currency IDRs at 'B'. The Rating Outlook on the Long-Term rating is Negative. Credito Real's global senior unsecured debt and perpetual bonds ratings were also affirmed at 'BB' and 'B+', respectively.
Fitch has also affirmed Credito Real's Long- and Short-Term National Scale ratings at 'A(mex)'/'F1(mex)'. The Outlook on the Long-Term rating is Negative.
KEY RATING DRIVERS
On Sept. 10, 2021, Credito Real's board of directors approved the sale of the SME portfolio owned by CREAL Arrendamiento S.A. de C.V. (19.5% of Credito Real´s total loans as of June 2021) and the sale of its controlling interest in Credito Real USA Finance, LLC (5.0% of total loan portfolio). Resources are expected to be used to repurchase market debt and to reduce liquidity risks from the upcoming maturity of the CHF170 million bond in February 2022 if the entity is not able to refinance in the global market.
In Fitch's view, the plans have a good probability of occurrence in the coming six months, and if properly executed the approved plans could be positive for the overall performance and reduce on-balance sheet risks, which could offset partial losses in business diversification from announced sales. If timely executed, the proposed strategy may significantly reduce refinancing risks and improve the leverage, asset quality and profitability prospects of the company, which could lead to an Outlook stabilization.
However, if the execution of approved sales or the materialization of additional financing strategies shared with the agency are not timely enough to mitigate short-term refinancing risks arising from a deteriorated market sentiment toward the payroll loans to public-sector employees industry, the ratings could be downgraded. Fitch foresees a chance of a material deterioration of the refinancing and liquidity risk under this scenario, which explains the Negative Outlook since this event could trigger further rating downgrades.
At 1H21, the adjusted NPL´s ratio including charge-offs, the amount owed by distributors and foreclosed assets was 11.6% while the pre-tax income to average assets was low at 0.5%. Tangible leverage stood at 5.6x on the same date.
SENIOR DEBT
The senior global debt rating is at the same level as Credito Real's 'BB' rating, as the likelihood of a default of the notes is the same as for the company.
fedro10
è la somma che fa il totale...
sentito ora IW prezzo di carico confermato, messe in vendita a 263, vediamo in giornata se passano.
bia06
Listen other's viewpoint avoid conflicts & wars.
E' quello che mi dicevo per Abengoa 2018 Senior. Per guadagnare 6k a 4 mesi dalla scadenza ne ho persi quasi 80k.
Non l'avessi mai fatto.
Non l'avessi mai fatto.
gualberto
Charlie don't Surf
Vendute?
fedro10
è la somma che fa il totale...
no riproveremo.
fabriziof
Forumer storico
Hylea omaggiata dal senato della Bolivia
www.hylea.com
HYLEA GROUP
www.hylea.com