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waltermasoni
Caribbean Trader
Fitch Revises Panama's Outlook to Negative; Affirms IDR at 'BBB'
06 FEB 2020 04:55 PM ET
Fitch Ratings - New York - 06 February 2020:
Fitch Ratings has affirmed Panama's Long-Term Foreign Currency Issuer Default Rating (IDR) at 'BBB' and revised the Rating Outlook to Negative from Stable.
06 FEB 2020 04:55 PM ET
Fitch Ratings - New York - 06 February 2020:
Fitch Ratings has affirmed Panama's Long-Term Foreign Currency Issuer Default Rating (IDR) at 'BBB' and revised the Rating Outlook to Negative from Stable.
fedro10
è la somma che fa il totale...
fedro10
è la somma che fa il totale...
waltermasoni
Caribbean Trader
Fitch Affirms Russia at 'BBB'; Outlook Stable
07 FEB 2020 04:03 PM ET
Fitch Ratings - London - 07 February 2020:
Fitch Ratings has affirmed Russia's Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDR) at 'BBB'. The Outlook is Stable.
07 FEB 2020 04:03 PM ET
Fitch Ratings - London - 07 February 2020:
Fitch Ratings has affirmed Russia's Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDR) at 'BBB'. The Outlook is Stable.
waltermasoni
Caribbean Trader
Rating Action:
Moody's affirms Indonesia's Baa2 rating, maintains stable outlook
10 Feb 2020
Singapore, February 10, 2020 -- Moody's Investors Service ("Moody's") has today affirmed the Government of Indonesia's ("Indonesia") local and foreign currency long-term issuer ratings at Baa2 and maintained the stable outlook. The local and foreign currency senior unsecured ratings and the MTN and shelf program ratings were also affirmed at Baa2 and (P)Baa2, respectively.
The affirmation of the rating is underpinned by a number of credit strengths - including Indonesia's robust and stable growth rates and a low government debt burden, preserved by consistent fiscal discipline and emphasis on macroeconomic stability - as well as persistent credit challenges. These comprise a very weak revenue base that constrains debt affordability, the government's reliance on external market funding that exposes its balance sheet and the economy to changes in foreign investor sentiment, and an economic structure that remains vulnerable to commodity cycles. Moody's expects that reforms aimed at reducing a number of structural economic and fiscal constraints will continue, albeit at a gradual pace, similar to the relatively slow progress achieved in the last few years.
The stable outlook reflects balanced risks at Baa2, mainly related to the pace and effectiveness of reforms. Significant delays or reversals in reforms would risk undermining Indonesia's growth potential and macroeconomic stability. Conversely, more effective reforms than Moody's currently expects would improve competitiveness, raise growth potential and strengthen Indonesia's external position.
Indonesia's A1 local currency bond and deposit ceilings remain unchanged. The A3 foreign currency bond ceiling and the Baa2 foreign currency deposit ceiling are also unchanged. The short-term foreign currency bond and deposit ceilings remain unchanged Prime-2. These ceilings act as a cap on the ratings that can be assigned to the obligations of other entities domiciled in the country.
Concurrently, Moody's has affirmed the backed senior unsecured ratings, and the backed senior unsecured MTN programme rating of the US dollar trust certificates issued by Perusahaan Penerbit SBSN Indonesia III, at Baa2 and (P)Baa2 respectively. This is a special purpose vehicle established by the Government of Indonesia. The associated payment obligations are direct obligations of the Government of Indonesia and rank pari passu with other senior unsecured debt of the government.
Moody's affirms Indonesia's Baa2 rating, maintains stable outlook
10 Feb 2020
Singapore, February 10, 2020 -- Moody's Investors Service ("Moody's") has today affirmed the Government of Indonesia's ("Indonesia") local and foreign currency long-term issuer ratings at Baa2 and maintained the stable outlook. The local and foreign currency senior unsecured ratings and the MTN and shelf program ratings were also affirmed at Baa2 and (P)Baa2, respectively.
The affirmation of the rating is underpinned by a number of credit strengths - including Indonesia's robust and stable growth rates and a low government debt burden, preserved by consistent fiscal discipline and emphasis on macroeconomic stability - as well as persistent credit challenges. These comprise a very weak revenue base that constrains debt affordability, the government's reliance on external market funding that exposes its balance sheet and the economy to changes in foreign investor sentiment, and an economic structure that remains vulnerable to commodity cycles. Moody's expects that reforms aimed at reducing a number of structural economic and fiscal constraints will continue, albeit at a gradual pace, similar to the relatively slow progress achieved in the last few years.
The stable outlook reflects balanced risks at Baa2, mainly related to the pace and effectiveness of reforms. Significant delays or reversals in reforms would risk undermining Indonesia's growth potential and macroeconomic stability. Conversely, more effective reforms than Moody's currently expects would improve competitiveness, raise growth potential and strengthen Indonesia's external position.
Indonesia's A1 local currency bond and deposit ceilings remain unchanged. The A3 foreign currency bond ceiling and the Baa2 foreign currency deposit ceiling are also unchanged. The short-term foreign currency bond and deposit ceilings remain unchanged Prime-2. These ceilings act as a cap on the ratings that can be assigned to the obligations of other entities domiciled in the country.
Concurrently, Moody's has affirmed the backed senior unsecured ratings, and the backed senior unsecured MTN programme rating of the US dollar trust certificates issued by Perusahaan Penerbit SBSN Indonesia III, at Baa2 and (P)Baa2 respectively. This is a special purpose vehicle established by the Government of Indonesia. The associated payment obligations are direct obligations of the Government of Indonesia and rank pari passu with other senior unsecured debt of the government.
waltermasoni
Caribbean Trader
waltermasoni
Caribbean Trader
Rating Action:
Moody's assigns Baa2 rating to Gazprom's proposed LPNs
13 Feb 2020
London, 13 February 2020 -- Moody's Investors Service (Moody's) has today assigned a Baa2 rating to the proposed senior unsecured US dollar-denominated loan participation notes (LPNs) to be issued by, but with limited recourse to, Gaz Finance Plc, a public company with limited liability incorporated in England and Wales. Gaz Finance Plc will in turn on-lend the proceeds to Gazprom, PJSC (Baa2 stable), which will use them for general corporate purposes. Therefore, the noteholders will rely solely on Gazprom's credit quality to service and repay the debt. Moody's has also assigned a stable outlook to Gaz Finance Plc, in line with Gazprom's outlook.
LPNs will be issued as Series 1 under the existing EUR30 billion multicurrency medium-term note programme (unrated) for issuing loan participation notes. The notes will be issued for the sole purpose of financing a loan to Gazprom on the terms of an amended and restated facility agreement dated 26 December 2019 between Gaz Finance Plc and Gazprom.
RATINGS RATIONALE
The Baa2 rating assigned to the notes is the same as Gazprom's long-term issuer rating, which reflects Moody's view that the proposed notes will rank pari passu with other outstanding unsecured debt of Gazprom.
The noteholders will have the benefit of certain covenants made by Gazprom, including a negative pledge and restrictions on mergers. The cross-default clause embedded in the bond documentation will cover, inter alia, a failure by Gazprom or any of its principal subsidiaries to pay any of their financial indebtedness in the amount exceeding $250 million.
Gazprom's Baa2 issuer rating is on par with Russia's country ceiling for foreign-currency debt. The rating factors in the company's vast natural gas reserves, strong business profile as Russia's largest producer and monopoly exporter of pipeline gas, owner and operator of the world's largest gas transportation and storage system, and Europe's largest gas supplier. Gazprom benefits from a high level of government support resulting from the company's economic, political and reputational importance to the Russian state. Gazprom's rating also takes into account Moody's expectation that the company's credit metrics will weaken in 2020 because of lower gas prices in Europe amid the growing supply of liquefied natural gas. The company remains exposed to Russia's macroeconomic, regulatory and operating environment, despite its high volume of exports, because most of its production facilities are in Russia.
Moody's assigns Baa2 rating to Gazprom's proposed LPNs
13 Feb 2020
London, 13 February 2020 -- Moody's Investors Service (Moody's) has today assigned a Baa2 rating to the proposed senior unsecured US dollar-denominated loan participation notes (LPNs) to be issued by, but with limited recourse to, Gaz Finance Plc, a public company with limited liability incorporated in England and Wales. Gaz Finance Plc will in turn on-lend the proceeds to Gazprom, PJSC (Baa2 stable), which will use them for general corporate purposes. Therefore, the noteholders will rely solely on Gazprom's credit quality to service and repay the debt. Moody's has also assigned a stable outlook to Gaz Finance Plc, in line with Gazprom's outlook.
LPNs will be issued as Series 1 under the existing EUR30 billion multicurrency medium-term note programme (unrated) for issuing loan participation notes. The notes will be issued for the sole purpose of financing a loan to Gazprom on the terms of an amended and restated facility agreement dated 26 December 2019 between Gaz Finance Plc and Gazprom.
RATINGS RATIONALE
The Baa2 rating assigned to the notes is the same as Gazprom's long-term issuer rating, which reflects Moody's view that the proposed notes will rank pari passu with other outstanding unsecured debt of Gazprom.
The noteholders will have the benefit of certain covenants made by Gazprom, including a negative pledge and restrictions on mergers. The cross-default clause embedded in the bond documentation will cover, inter alia, a failure by Gazprom or any of its principal subsidiaries to pay any of their financial indebtedness in the amount exceeding $250 million.
Gazprom's Baa2 issuer rating is on par with Russia's country ceiling for foreign-currency debt. The rating factors in the company's vast natural gas reserves, strong business profile as Russia's largest producer and monopoly exporter of pipeline gas, owner and operator of the world's largest gas transportation and storage system, and Europe's largest gas supplier. Gazprom benefits from a high level of government support resulting from the company's economic, political and reputational importance to the Russian state. Gazprom's rating also takes into account Moody's expectation that the company's credit metrics will weaken in 2020 because of lower gas prices in Europe amid the growing supply of liquefied natural gas. The company remains exposed to Russia's macroeconomic, regulatory and operating environment, despite its high volume of exports, because most of its production facilities are in Russia.
waltermasoni
Caribbean Trader
sell 106,36
Western Union 4.25% 2023-06 USD
sell 102,78
Deutsche Bank New York 4,25% 2021-02 USD
sell 109,71
4,125% Vodafone Group PLC (2025) - US92857WBJ80 - Borse Berlin
x incremento bond tesla su notizia adc
Western Union 4.25% 2023-06 USD
sell 102,78
Deutsche Bank New York 4,25% 2021-02 USD
sell 109,71
4,125% Vodafone Group PLC (2025) - US92857WBJ80 - Borse Berlin
x incremento bond tesla su notizia adc