by Amruth Sundarkumar | Jun 16, 2021 | Corporates
Emirates Group came out with its earnings for FY2021 ended March 31 on Tuesday in which it reported its first annual loss in over 30 years caused due to the drop in passenger traffic as a fallout of the pandemic. The group incurred a loss of AED 22.1bn ($6.0bn) vs. a...
by Amruth Sundarkumar | Jun 10, 2021 | China, Corporates
Chinese state owned China Southern Power Grid Co. is in early talks to acquire a 10% stake worth ~$4.2bn in Abu Dhabi’s flagship Abu Dhabi National Energy Co (TAQA – Arabic for energy). The transaction, if cleared, would be the biggest overseas acquisition...
by Amruth Sundarkumar | Jun 4, 2021 | Corporates, Credit Ratings
Serba Dinamik Holdings Berhad (SDHB) was downgraded three notches to B- from BB- by Fitch and placed on Rating Watch Negative following concerns raised by KPMG. The rating action comes two days after S&P downgraded the company to B- from B+. Fitch said that the...
by Amruth Sundarkumar | Jun 2, 2021 | China, Corporates
The Chinese finance ministry is considering a plan to transfer its shares in China Huarong Asset Management Company and three other bad-debt managers China Cinda Asset Management Co., China Great Wall Asset Management Co. and China Orient Asset Management Co. into a...
by Amruth Sundarkumar | Jun 1, 2021 | Corporates, Credit Ratings
Serba Dinamik has been downgraded by two notches to B- from B+ by S&P this morning. The rating agency cited “reduced funding access” as the reason for the downgrade and placed the Malaysian corporate on CreditWatch Negative. S&P added that the...
by bondevalue | Apr 29, 2021 | China, Corporates
The Shenzhen and Shanghai exchanges published guidelines to tighten the approval of bonds issued on the exchanges by corporates and non-bank issuers. Focus points particularly include corporate governance and disclosure of financial information. For example, if...
