by Amruth Sundarkumar | Sep 23, 2021 | Corporates
Mexico is looking to allocate the $7bn of international reserves from the $12bn that the IMF transferred to the country’s central bank to other purposes over paying down debt of Petroleos Mexicanos (Pemex), the country’s most costly debt, as per sources. Originally,...
by Amruth Sundarkumar | Sep 21, 2021 | Corporates, Credit Ratings
Dell was upgraded to BBB- from BB+ by Fitch on its strengthened credit profile from “ongoing debt reduction and solid operating momentum”. Dell’s credit profile strengthened from the use of free cash flow (FCF) for debt reduction. The company reduced...
by Amruth Sundarkumar | Sep 21, 2021 | Corporates, Credit Ratings
US Steel has been upgraded to B from B- with a positive outlook by S&P on debt reduction amid the strong cash flows due to the all-time high steel prices in 2021. Big River Steel has also been upgraded to B with a positive outlook following the upgrade of the...
by Amruth Sundarkumar | Sep 21, 2021 | Corporates
Aussie energy infrastructure company APA Group has made a non-binding offer to acquire regional peer AusNet Services for A$9.96bn ($7.23bn), soon after Canadian alternative asset manager Brookfield Asset Management’s A$9.57bn ($6.95bn) offer. APA said that the...
by Amruth Sundarkumar | Sep 21, 2021 | Corporates, Investment Grade Bonds
The world’s largest PC maker Lenovo Group is planning a pivot from hardware to software and services as it looks to grow its customer base and boost margins. Ken Wong, president of Lenovo’s Solutions & Services Group (SSG) explained this in an...
by Amruth Sundarkumar | Sep 20, 2021 | Corporates
UK-based insurer Prudential Plc announced in a statement that it plans to raise HKD 22.5bn ($2.9bn) via a share sale in Hong Kong. The company plans to offer 130.8mn shares at an offer price of no more than HKD 172 per share, representing at most 5% of the...
