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Search resuls for: "Credit Research"


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☆ China developers' debt risks persist after support policies' slow start
  + stars: | 2023-01-17 | by ( Clare Jim | ) www.reuters.com   time to read: +4 min
The next few months could therefore find more developers starting to miss offshore debt obligations, while many developers that have already defaulted will continue struggling to pin down a restructuring plan for viable long-term repayments. This year, Chinese developers' maturing offshore debt will total $141 billion, up from $120.7 billion in 2022, Refinitiv data showed. Since November, it has completed two rounds of share placements in Hong Kong, raising HK$8.6 billion ($1.10 billion). An executive at a developer that has defaulted on offshore debt said the company would speed up its debt restructuring process this year as onshore banks have offered to extend new loans once a revamp is complete. ($1 = 7.8194 Hong Kong dollars, 6.7810 Chinese yuan renminbi)Reporting by Clare Jim; Editing by Sumeet Chatterjee and Edmund KlamannOur Standards: The Thomson Reuters Trust Principles.
☆ Ericsson makes $220 mln Iraq provision over US probe, shares rise
  + stars: | 2023-01-12 | by ( ) www.reuters.com   time to read: +1 min
STOCKHOLM, Jan 12 (Reuters) - Ericsson (ERICb.ST) said on Thursday it would book a 2.3 billion Swedish crown ($220 million) provision for an expected fine from the U.S. justice department over the company's handling of an earlier settlement related to its operations in Iraq. Ericsson had in 2019 settled bribery allegations with U.S. authorities and agreed to be under review for three years. But it failed to fully disclose results of an internal investigation about potential payments to the Islamic State militant group in Iraq, leading to more regulatory scrutiny. "The provision is significantly below both our and S&P's base case of about 10 billion SEK," he said. ($1 = 10.4692 Swedish crowns)Reporting by Anna Ringstrom, editing by Terje SolsvikOur Standards: The Thomson Reuters Trust Principles.
☆ Ericsson's Cloud Software and Services unit books $76 mln charge
  + stars: | 2023-01-04 | by ( ) www.reuters.com   time to read: +1 min
STOCKHOLM, Jan 4 (Reuters) - Ericsson (ERICb.ST) on Wednesday announced a 800 million crown ($76 million) fourth-quarter charge linked to dropping some contracts and products at its loss-making Cloud Software and Services business. Its cash flow would take a 700 million crown hit from the action, mainly in 2023, it added. Shares in Ericsson, which is due to report fourth-quarter earnings on Jan. 20, were up 1.2% at 1259 GMT. "That said, we still view Ericsson as a strong trade for 2023." ($1 = 10.5121 Swedish crowns)Reporting by Anna Ringstrom and Supantha Mukherjee, editing by Terje Solsvik and John StonestreetOur Standards: The Thomson Reuters Trust Principles.
☆ Pimco's co-head of special situations Harin de Silva has taken a personal leave
  + stars: | 2022-11-16 | by ( Danielle Walker | ) www.businessinsider.com   time to read: +2 min
Harin de Silva is on the small investment committee for Pimco's Private income Fund, which includes Group CIO Dan Ivascyn. Core Strategies, also recently took a personal leave of absence from the firm. Pimco's co-head of special situations, Harin de Silva, has taken a personal leave of absence from the firm, a company spokesperson confirmed Wednesday. De Silva is co-head of special situations with executive vice president Kristofer Kraus, who is a portfolio manager on the speciality finance team. During de Silva's leave, Pimco has placed portfolio manager Kristofer Kraus, who is on the speciality finance team, on the PIF investment committee.
☆ Analysis: Twitter's 'massive' revenue drop adds to heavy debt burden
  + stars: | 2022-11-07 | by ( Matt Tracy | ) www.reuters.com   time to read: +4 min
loadingYet even before this upheaval, Musk had engineered an acquisition that pushed the San Francisco-based company's finances to the edge. It's not clear how much of the $5.29 billion debt Twitter had before the acquisition was refinanced or remained with the company. Debt investors and analysts said Musk needs to ensure the company is profitable enough to meet its debt payments or it will require a cash infusion. If he can generate enough revenue to diversify Twitter's profits without alienating users, that would be a boon, credit analysts said. BRAND ADVERTISINGIn their note, S&P analysts also said that an expected economic recession would weigh on Twitter's advertising revenue next year.
☆ $14 billion Schonfeld is launching a new credit unit as the hedge fund continues its growth tear
  + stars: | 2022-10-28 | by ( Alyson Velati | ) www.businessinsider.com   time to read: +3 min
$14 billion Schonfeld Strategic Advisors has rolled out a credit unit within its new macro trading business that launched earlier this year. Silverman and Aubrey joined in July and August, respectively, following Anchorage shutting its $7.4 billion hedge fund last December. The expanding credit business is part of Schonfeld's recent growth tear. In January, the firm is rolling out long/short credit strategies across the credit quality spectrum in the US and plans to add APAC and EMEA strategies over time. The HFRI Asset Weighted Index gained 1.1% for September, increasing the year-to-date return to 3.8%, according to Hedge Fund Research data.
☆ S&P Global Ratings: UK consumer linked sectors particularly vulnerable during 'critical winter'
  + stars: | 2022-10-20 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailS&P Global Ratings: UK consumer linked sectors particularly vulnerable during 'critical winter'Paul Watters, head of EMEA credit research at S&P Global Ratings, discusses the impact of the government's fiscal measures on U.K. corporates.
☆ 2-year Treasury reaches a fresh 15-year high
  + stars: | 2022-09-26 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email2-year Treasury reaches a fresh 15-year highLotfi Karoui, chief credit strategist and head of the credit research group at Goldman Sachs, joins 'Squawk on the Street' to discuss what 2-year Treasury reaching a fresh 15-year high means for the market.
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