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Search resuls for: "Moody’s Investors"


5 mentions found


☆ For Twitter’s Next CFO, Lots of Debt and a Slowing Economy
  + stars: | 2022-10-28 | by ( Mark Maurer | Dean Seal | Brent Thill | ) www.wsj.com   time to read: +8 min
It isn’t clear yet who will succeed Mr. Segal as CFO. Twitter and Mr. Musk on Friday didn’t respond to requests for comment. Mr. Segal on Friday tweeted that “the work isn’t complete,” referring to Twitter’s ambition to build “the world’s townsquare.” Mr. Segal didn’t respond to a request for additional comment. Mr. Musk has said buying Twitter would accelerate his creation of an app that combines the capabilities of several apps in one. The future executives that Mr. Musk installs will have to share his vision for Twitter, Mr. Ives said, and prepare to support growth initiatives that will take years to build.
☆ Analysis: U.S. junk bond investors face tough choice as yields spike
  + stars: | 2022-10-27 | by ( Matt Tracy | Shankar Ramakrishnan | ) www.reuters.com   time to read: +4 min
WASHINGTON, Oct 27 (Reuters) - A sell-off in the U.S junk bond market is presenting investors with a buying opportunity but some are holding back, worried that a looming recession could spark widespread credit defaults. That level is the highest for yields since April 2020, while the index is down some 13% this year. That level is a critical zone of credit stress where credit markets become vulnerable to dysfunction, said Oleg Melentyev, credit strategist at the bank. DEARTH OF OFFERINGSAt the same time, risk aversion has slowed new bond issuance in the primary high-yield market to a trickle. That could change in 2023, however, if a recession further dampens activity in primary markets and borrowing costs remain high, spurring potential defaults in the lowest rungs of junk-rated bonds.
☆ Junk-Rated Companies Search for the Right Time to Tap Investors
  + stars: | 2022-10-16 | by ( Nina Trentmann | ) www.wsj.com   time to read: +8 min
While there is limited pressure overall as many businesses refinanced in 2020 and 2021 when funding was cheaper and investor appetite stronger, high-yield companies with immediate financing needs have to find the right time to tap investors, corporate bankers say. Adding loans and revolving-credit facilities, speculative companies have maturities of around $1.47 trillion through 2027, ratings firm Moody’s Investors Service said last week. And the high-yield bond market isn’t closed, it has just become more expensive, bankers said. Movie theater chain AMC Entertainment Holdings Inc. on Friday said that its subsidiary Odeon Finco PLC priced a $400 million bond. Bankers said they have received few calls from triple C-rated companies in recent months looking for maturity extensions.
☆ One-Third Vacant, Massachusetts Mall Shows Why Regional Operators Are in a Bind
  + stars: | 2022-10-11 | by ( Kate King | ) www.wsj.com   time to read: 1 min
NORTH ATTLEBOROUGH, Mass.—The only mall in this former manufacturing town recently sold for a fraction of its value only a decade earlier, another sign that regional malls are sitting out a broader recovery in retail real estate. The previous owner of Emerald Square Mall, which spans 1 million square feet and features stores such as Victoria’s Secret and Macy’s , defaulted on $94.5 million of debt in mid-2020. That marked the largest loss recorded on a loan securitized in the last dozen years, according to Moody’s Investors Service .
☆ Cheniere CFO Aims for Investment-Grade Credit Rating as Natural-Gas Prices Soar
  + stars: | 2022-09-15 | by ( Kristin Broughton | ) www.wsj.com   time to read: +6 min
Cheniere Energy Inc.’s finance chief is working toward landing an investment-grade credit rating in the coming year, as the largest U.S. exporter of liquefied natural gas pays down debt and benefits from the run-up in energy prices. Photo: Cheniere Energy Inc. The company expects to reach investment grade next year based on its current rating and financial position, Mr. Davis said. An investment-grade rating would provide confidence to long-term investors and customers that the company can survive volatility in commodity markets, Mr. Davis said. Higher natural gas prices have been a boon to Cheniere’s finances, prompting it to accelerate plans to pay down debt.
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