by Amruth Sundarkumar | Feb 2, 2023 | Corporates, High Yield Bonds
French retailer Casino Guichard and Teract SA, a European leader in sustainable, alternative and responsible distribution are in talks to merge their French retail operations. Talks are in exploratory stages and no conclusion has been made, Casino Guichard noted....
by Amruth Sundarkumar | Feb 1, 2023 | Corporates, High Yield Bonds, India
Vedanta Ltd. has decided to halt plans to sell Sterlite Copper, its copper smelter in Tamil Nadu, India, as per sources. While the initial planned size of the sale was not known, Sterlite has operated a 400,000 MTPA smelter and was responsible for 36% of India’s...
by Amruth Sundarkumar | Jan 20, 2023 | Corporates, India
Adani Enterprises will issue shares worth INR 200bn ($2.5bn) in an effort to reduce its debt and fuel its expansion objectives. The issue price will be at a discount of 9-13% to its closing share price of INR 3,595.35/share ($44/share) on Wednesday. with retail...
by Amruth Sundarkumar | Jan 19, 2023 | Corporates, Credit Ratings
DP World and its senior unsecured bonds were upgraded to Baa2 from Baa3 by Moody’s. The rating action came after it successfully reduced net debt-to-EBITDA as of December 2022 to below 4x, inline with the target it announced during its recapitalization in 2020....
by Amruth Sundarkumar | Jan 18, 2023 | Corporates
United Airlines have forecasted at least a 4x jump in its full year profit for 2023 after reporting its 4Q 2022 earnings. The air carrier reported a $2.52/share adjusted profit last year and a Q4 profit of $2.46/share beating analysts’ expectations of...
by Amruth Sundarkumar | Jan 17, 2023 | Corporates, Credit Ratings
Azure Power Global’s dollar bonds were downgraded to BB and Ba3 by Fitch and Moody’s respectively. The downgrades came over concerns regarding Azure’s corporate governance and compliance after the management failed to disclose overdue audited...
