by Megha Malhotra | Sep 3, 2021 | Credit Ratings, Macroeconomic news
US markets continued with modest gains on the second day of September – S&P and Nasdaq gained 0.3% and 0.1% respectively. Energy up 2.5% reversed its losses to lead the gains, followed by Healthcare and Industrials, up more than 1%. Communication Services, down...
by Megha Malhotra | Sep 3, 2021 | China, High Yield Bonds
Guangzhou R&F Properties saw its dollar bonds, issued by Easy Tactic, fall sharply on Thursday as concerns over Evergrande spilled over, coupled with lower access to capital for the industry, as mentioned in Moody’s outlook revision on the overall Chinese...
by Megha Malhotra | Sep 3, 2021 | Credit Ratings, Financial News
Moody’s has revised its outlook on China’s property sector to negative from stable on tightened funding access due to tighter regulations and refinancing risks. The Chinese regulators had imposed guidelines in January this year, limiting banks’...
by Megha Malhotra | Sep 3, 2021 | High Yield Bonds
Major food and agri-business company, Olam International has secured $5.2bn in financing across three loan facilities as it moves forward with its business reorganisation plans. Olam announced earlier this week that the three facilities comprise a $1.2bn 3Y loan and...
by Megha Malhotra | Sep 3, 2021 | High Yield Bonds
Brazilian petrochemicals company Braskem SA has been upgraded to investment grade at BBB- on the back of strong profitability and debt reductions. S&P raised both the issuer credit rating and unsecured issue-level rating on Braskem to BBB- from BB+, and also...
