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The Week That Was (24 – 30 July, 2023)

The Week That Was (24 – 30 July, 2023)

US primary markets saw a drop in new deals last week to $16.7bn vs. a strong $30.9bn in deals a week prior. IG deals took the majority of volumes with $14.2bn in deals led by L3Harris Technologies' $3.75bn three-trancher and American Express' $3.5bn four-trancher. HY...

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Sino-Ocean Downgraded to Caa2 by Moody’s

Sino-Ocean Downgraded to Caa2 by Moody’s

Sino-Ocean was downgraded to Caa2 from Caa1 by Moody's. Its senior unsecured notes were cut to Caa3 from Caa1 and its perps to C from Caa3. This comes due to Sino-Ocean's "weak liquidity and credit profile" and expectations of weakened support from China Life...

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