Portafogli e Strategie (investimento) Investment Grade, entro le frontiere conosciute. (3 lettori)
- Creatore Discussione canchye
- Data di Inizio
No noBrizio che ci fa nella sezione ig???
Ti sei convertito??
Aspettavo da te invece sugli hy qualche nuova emissione da 500k della Sierra Leone o del burchina faso al 15%...
Mi sto occupando della vendita di un immobile in Repubblica Dominicana..... il proprietario non lo sa - falsifico il titolo di proprietà
Prezzo barato $120’000 trattabili
Joe Silver
Forumer storico
Se vi interessano anche le obbligazioni lunghissime, allora vi segnalo (per chi ha Binck però) la Assured Guaranty US04623A2050 6,875% senior perpetua che si prende un pelo sotto 104. Rating A di S&P. Richiamabile ad ogni stacco cedola trimestrale, ma con l'aumento dei tassi diventa poco probabile.
fedro10
è la somma che fa il totale...
Rating Action:
Moody's affirms Kraft Heinz's Baa3/Prime-3 ratings; outlook revised to positive
21 May 2018
Approximately $32 billion of debt instruments affected.
New York, May 21, 2018 -- Moody's Investors Service ("Moody's") has affirmed the Baa2 senior secured debt rating, Baa3 senior unsecured debt rating and Prime -3 commercial paper rating of Kraft Heinz Foods Company and affiliates ("Kraft Heinz"). Moody's also revised the rating outlook to positive from stable.
The positive outlook reflects the successful completion of major integration activities related to the 2015 merger of H.J. Heinz Company and Kraft Foods that formed North America's third largest food company. The integration included achieving $1.7 billion of cost savings through zero-based budgeting (ZBB), which exceeded the company's original budget of $1.5 billion. This has produced a dramatic increase in operating profit margins from about 12% pro forma 2014 to over 27% currently, which is more than 10 percentage points better than the company's package food company peers.
Kraft Heinz also has retired $2 billion of its debt since the 2015 merger, reducing debt/EBITDA from about 5.2 times to now slightly above 4.0 times. However, if Kraft Heinz is able to remain on track to achieve its near-term goals -- which include increasing sales, EBITDA and EBITDA margin in 2018 -- debt/EBITDA should fall sustainably below 4.0 times by the end of the year, which could lead to a rating upgrade.
Moody's expects that free cash flow available for debt reduction will improve significantly this year, reflecting sharply lower cash outlays for restructuring activities and related cost savings, and a significant reduction in cash taxes related the recent US tax overhaul. However, Moody's believes that a portion of the incremental free cash flow generated is likely to be reinvested in internal and external growth initiatives, including possible major acquisitions. As a result, Moody's assumes that further reduction in financial leverage will likely come from earnings growth rather than debt repayment.
Aggressive financial policy is an important aspect of Kraft Heinz's credit profile -- especially with regard to its acquisition strategy. Acquisition event risk is partly mitigated by the company's stated commitment to maintain an investment grade rating profile. Other financial policy related factors that weigh on Kraft Heinz's ratings include a high dividend payout ratio in excess of 75%, inadequate liquidity facilities to support a large global commercial paper program, and aggressive working capital financing strategies. Improvement in these areas, most of which are within the company's control, would materially enhance the company's overall credit profile.
3,5% Kraft Heinz Co., The (2022) - US50076QAZ90 - Börse Berlin
Moody's affirms Kraft Heinz's Baa3/Prime-3 ratings; outlook revised to positive
21 May 2018
Approximately $32 billion of debt instruments affected.
New York, May 21, 2018 -- Moody's Investors Service ("Moody's") has affirmed the Baa2 senior secured debt rating, Baa3 senior unsecured debt rating and Prime -3 commercial paper rating of Kraft Heinz Foods Company and affiliates ("Kraft Heinz"). Moody's also revised the rating outlook to positive from stable.
The positive outlook reflects the successful completion of major integration activities related to the 2015 merger of H.J. Heinz Company and Kraft Foods that formed North America's third largest food company. The integration included achieving $1.7 billion of cost savings through zero-based budgeting (ZBB), which exceeded the company's original budget of $1.5 billion. This has produced a dramatic increase in operating profit margins from about 12% pro forma 2014 to over 27% currently, which is more than 10 percentage points better than the company's package food company peers.
Kraft Heinz also has retired $2 billion of its debt since the 2015 merger, reducing debt/EBITDA from about 5.2 times to now slightly above 4.0 times. However, if Kraft Heinz is able to remain on track to achieve its near-term goals -- which include increasing sales, EBITDA and EBITDA margin in 2018 -- debt/EBITDA should fall sustainably below 4.0 times by the end of the year, which could lead to a rating upgrade.
Moody's expects that free cash flow available for debt reduction will improve significantly this year, reflecting sharply lower cash outlays for restructuring activities and related cost savings, and a significant reduction in cash taxes related the recent US tax overhaul. However, Moody's believes that a portion of the incremental free cash flow generated is likely to be reinvested in internal and external growth initiatives, including possible major acquisitions. As a result, Moody's assumes that further reduction in financial leverage will likely come from earnings growth rather than debt repayment.
Aggressive financial policy is an important aspect of Kraft Heinz's credit profile -- especially with regard to its acquisition strategy. Acquisition event risk is partly mitigated by the company's stated commitment to maintain an investment grade rating profile. Other financial policy related factors that weigh on Kraft Heinz's ratings include a high dividend payout ratio in excess of 75%, inadequate liquidity facilities to support a large global commercial paper program, and aggressive working capital financing strategies. Improvement in these areas, most of which are within the company's control, would materially enhance the company's overall credit profile.
3,5% Kraft Heinz Co., The (2022) - US50076QAZ90 - Börse Berlin
fedro10
è la somma che fa il totale...
Rating Action:
Moody's affirms ratings of Wabtec, with senior unsecured at Baa3, on announced merger with GE Transportation; outlook negative
21 May 2018
New York, May 21, 2018 -- Moody's Investors Service ("Moody's") has affirmed all ratings for Westinghouse Air Brake Technologies Corp. ("Wabtec"), including its Baa3 senior unsecured rating, in response to the company's planned merger with the GE Transportation division of General Electric Corporation ("GE"). Wabtec's rating outlook remains negative.
On May 21, Wabtec announced that it has entered into an agreement to merge with GE's Transportation division for approximately $11.1 billion, to be funded through a combination of Wabtec shares and new debt issuance. Wabtec expects the transaction to close in early 2019.
"In time, the Wabtec / GE Transportation combination will create a powerful competitor in the global railroad equipment sector," said David Berge, Senior Vice President and Moody's lead analyst for the company. "Nonetheless, the purchase of GE Transportation represents another transformative acquisition for Wabtec, bringing with it integration risk at a time when it is still working through a difficult Faiveley acquisition. Further, we expect that the much larger GE Transportation merger will be a more challenging undertaking than Faiveley."
WABTEC Corp. Obligation: 3,4500% till nov, 15 2026
Moody's affirms ratings of Wabtec, with senior unsecured at Baa3, on announced merger with GE Transportation; outlook negative
21 May 2018
New York, May 21, 2018 -- Moody's Investors Service ("Moody's") has affirmed all ratings for Westinghouse Air Brake Technologies Corp. ("Wabtec"), including its Baa3 senior unsecured rating, in response to the company's planned merger with the GE Transportation division of General Electric Corporation ("GE"). Wabtec's rating outlook remains negative.
On May 21, Wabtec announced that it has entered into an agreement to merge with GE's Transportation division for approximately $11.1 billion, to be funded through a combination of Wabtec shares and new debt issuance. Wabtec expects the transaction to close in early 2019.
"In time, the Wabtec / GE Transportation combination will create a powerful competitor in the global railroad equipment sector," said David Berge, Senior Vice President and Moody's lead analyst for the company. "Nonetheless, the purchase of GE Transportation represents another transformative acquisition for Wabtec, bringing with it integration risk at a time when it is still working through a difficult Faiveley acquisition. Further, we expect that the much larger GE Transportation merger will be a more challenging undertaking than Faiveley."
WABTEC Corp. Obligation: 3,4500% till nov, 15 2026
fedro10
è la somma che fa il totale...
Announcement:
Moody's says Zoetis' acquisition of Abaxis is credit negative
16 May 2018
New York, May 16, 2018 -- Moody's Investors Service commented that Zoetis Inc.'s (Zoetis, Baa1 stable) plans to acquire Abaxis, Inc. (unrated), for $2 billion is credit negative. The acquisition affords Zoetis access to a fast growing area within animal health but will result in an increase in financial leverage. There is no impact on Zoetis' Baa1 senior unsecured rating, Prime-2 short term rating, or the stable rating outlook.
For additional information please refer to Moody's Issuer Comment on Zoetis Inc. available on www.moodys.com.
This publication does not announce a credit rating action. For any credit ratings referenced in this publication, please see the ratings tab on the issuer/entity page on www.moodys.com for the most updated credit rating action information and rating history.
4,5% Zoetis Inc. (2025) - US98978VAK98 - Börse Berlin
Moody's says Zoetis' acquisition of Abaxis is credit negative
16 May 2018
New York, May 16, 2018 -- Moody's Investors Service commented that Zoetis Inc.'s (Zoetis, Baa1 stable) plans to acquire Abaxis, Inc. (unrated), for $2 billion is credit negative. The acquisition affords Zoetis access to a fast growing area within animal health but will result in an increase in financial leverage. There is no impact on Zoetis' Baa1 senior unsecured rating, Prime-2 short term rating, or the stable rating outlook.
For additional information please refer to Moody's Issuer Comment on Zoetis Inc. available on www.moodys.com.
This publication does not announce a credit rating action. For any credit ratings referenced in this publication, please see the ratings tab on the issuer/entity page on www.moodys.com for the most updated credit rating action information and rating history.
4,5% Zoetis Inc. (2025) - US98978VAK98 - Börse Berlin
waltermasoni
Caribbean Trader
waltermasoni
Caribbean Trader
iguanito
Forumer storico
Ti segnalo anche parecchi bond della philip morris international rating A2 sotto la pari su francoforte
Börse Frankfurt (Frankfurt Stock Exchange): Stock market quotes, charts and news
Börse Frankfurt (Frankfurt Stock Exchange): Stock market quotes, charts and news
waltermasoni
Caribbean Trader
Grazie molte!!