Unifin’s Bonds Fall Due to Refinancing Concerns
Mexican lender Unifin bonds fell due to concerns among investors over the lender’s ability to tap the bond market and refinance debt due in 2023. The concerns came recently after Credito Real defaulted its franc-denominated bonds and Alpha Holdings reported an...
Allianz Posts Results with $4.2bn Hit in Investment Fund Case
Allianz reported a net loss of €292mn ($332mn) in Q4 2021 while analysts expected a profit. Profit for the full year was at €6.6bn ($7.5bn), the lowest since 2013. Revenues during Q4 rose 7.9% to €38.4bn ($43.7bn). The insurer said it would set aside a pre-tax...
AIG Beats on Q4 Earnings Boosted by Underwriting
American International Group Inc. (AIG) reported its seventh consecutive quarterly earnings beat with an adjusted after tax income of $1.3bn or $1.58/share, up 57% YoY and beating analyst estimates of $1.19 as per a Bloomberg survey. Its General Insurance combined...
Credito Real Downgraded to B- by Fitch
Credito Real was downgraded to B- from BB- by Fitch reflecting slower than expected progress in its funding and liquidity plans to meet repayment of its CHF 170mn ($185.7mn) 2.875% 2022s due on February 9. Whilst the company has managed to sell and collect a portion...
