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Search resuls for: "Moody’s Investor"


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☆ GE Healthcare Plans to Reduce Debt and Costs, Pursue Tuck-In Acquisitions
  + stars: | 2022-12-08 | by ( Nina Trentmann | ) www.wsj.com   time to read: +5 min
As a stand-alone company, GE Healthcare will also look to improve its working capital and lower logistics costs, Mr. Zodl said. GE Healthcare will also take a look at its real estate holdings and target over 100 sites, executives said. Ratings firms S&P Global Ratings, Fitch Ratings and Moody’s Investors Service have all given GE Healthcare an investment-grade rating. PREVIEWApart from reducing debt and costs, GE Healthcare will scout for potential tuck-in acquisition targets, Chief Executive Peter Arduini said. GE retains a 19.9% stake in GE Healthcare.
☆ Brazil, a Bastion of Hydropower, Is Gaining Traction in Wind and Solar
  + stars: | 2022-12-06 | by ( Paulo Trevisani | ) www.wsj.com   time to read: +8 min
The government, meanwhile, welcomes renewables projects as they can generate jobs and extra income for communities plagued by poverty. The wave of solar, wind and other clean-energy projects is expected to take market share from historically predominant hydroelectric generation. Wind and solar power are abundant in areas thousands of miles north of metropolitan centers where it is mostly needed, industry officials said. New solar and wind plants are generally welcomed by environmentalists and can often offer much-needed income to small farms. Of this total, 83% is expected to come from renewable sources, including hydro, solar, wind and others.
☆ Is the worst over for bitcoin and the rest of crypto?
  + stars: | 2022-12-04 | by ( Paul R. La Monica | ) edition.cnn.com   time to read: +6 min
This is not the first crypto winter, as long-term fans of bitcoin can attest. “It is very clear that we as an industry need to build better products,” said Hany Rashwan, CEO of 21.co, a crypto investment firm. That’s about triple where prices were during the depths of the crypto bear market in the early pandemic days of 2020. Others point out that the underlying blockchain technology behind bitcoin and crypto remains solid. Pride and Reynolds added that it’s erroneous to think that bitcoin can hold up well during stock market volatility.
☆ Junk-Rated Companies Face Greater Downgrade Risks as Economy Slows
  + stars: | 2022-11-25 | by ( Mark Maurer | ) www.wsj.com   time to read: +6 min
Each of these companies was downgraded by at least one ratings firm in recent weeks. At the same time, the economy has been losing steam, resulting in lower earnings and darkening the outlook for companies, especially in consumer-facing sectors. Credit downgrades can drive up financing costs for companies and cause executives to take additional action such as reducing debt loads. There were 33 S&P downgrades in September, the most in a single month since June 2020. Businesses without immediate refinancing needs, however, tend to see less of a direct impact from credit downgrades.
☆ The Disney CFO Who Raised Concerns About Bob Chapek Has Respect on the Street
  + stars: | 2022-11-25 | by ( Nina Trentmann | Mark Maurer | ) www.wsj.com   time to read: +6 min
Christine McCarthy, Walt Disney Co. ’s longtime finance chief, took an unusual step when she expressed a lack of confidence in the chief executive to directors of the entertainment giant. But Ms. McCarthy had raised concerns to Disney directors, The Wall Street Journal reported earlier this week. Newsletter Sign-up WSJ | CFO Journal The Morning Ledger provides daily news and insights on corporate finance from the CFO Journal team. Following the leadership shake-up, Disney faces a challenge to regain trust from the street and Ms. McCarthy needs to realign with her old and new chief executive Mr. Iger, analysts said. Age 67, Ms. McCarthy is likely to stay on while Mr. Iger reviews Disney’s strategy and searches for another successor to himself, analysts said.
☆ How Elon Musk’s Twitter Faces Mountain of Debt, Falling Revenue and Surging Costs
  + stars: | 2022-11-21 | by ( Mark Maurer | ) www.wsj.com   time to read: +10 min
Elon Musk says his $44 billion Twitter takeover might result in a bankruptcy filing. To make the deal work, Mr. Musk has been trying to add subscription revenue and reassure advertisers about the platform’s future. What’s more, the company’s debt stack now includes floating-rate debt, meaning that interest costs are set to rise as the Federal Reserve continues to increase interest rates. Twitter’s credit ratings, which were below investment grade before the transaction with Mr. Musk, have deteriorated further. For that, Mr. Musk would need to persuade potential investors that he has a viable long-term business plan, he said.
☆ 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.
☆ Moody’s lowers UK’s outlook to negative
  + stars: | 2022-10-21 | by ( Hanna Ziady | ) edition.cnn.com   time to read: +2 min
The affirmation of the Aa3 rating is a reflection of the UK’s economic resilience, Moody’s said in a statement. Credit ratings are essentially credit scores for governments and companies. Germany, Canada, Switzerland, Australia and the United States have some of the best credit ratings in the world, while Argentina, Nigeria, Pakistan and India have some of the lowest ratings. Soaring food costs drove the annual rate of inflation to 10.1% in September, returning it to July’s 40-year high. As well as driving up borrowing costs for the government and adding pressure to public spending, any credit ratings downgrade would only weaken investor appetite for UK assets.
☆ 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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