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Fitch Ratings

12:17 p.m. Dec. 6, 2019 - Barrons.com
Dow Surges as Jobs Report Shows Economy Still Strong The U.S. added a seasonally adjusted 266,000 jobs in November and unemployment rate fell, according to the Labor Department’s November 2019 Jobs Report.
7:36 a.m. Nov. 27, 2019 - By Jaimy Lee
Possible criminal probe undermines recovery in opioid stocks since global legal settlement announced Some companies facing opioid litigation inked a global settlement in October that aims to resolve those and future suits The stock prices of opioid drugmakers and distributors fell this week after news of a possible federal criminal probe, eroding many of the gains made in the weeks since a global settlement resolving opioid litigation was first announced.
2:55 a.m. Nov. 22, 2019 - By Philip van Doorn
Income seekers can reap 4% returns with this specialized bank-investing strategy On top of attractive monthly dividends, the Angel Oak Financials Income Fund seeks gains amid banking-industry consolidationOn top of attractive monthly dividends, the Angel Oak Financials Income Fund seeks gains amid banking-industry consolidation.
7:21 a.m. Nov. 20, 2019 - By Joy Wiltermuth
Bond investors face off on mall debt as a wave of downgrades hit before Black Friday Icahn places $400 million bet against struggling mallsProperty bonds with heavy exposure to regional malls are seeing downgrades even before the holiday shopping season kicks into high gear, intensifying a long-standing battle in the mortgage bond market.
6:59 a.m. Nov. 9, 2019 - By Lina Saigol
Here’s what investors need to know about Saudi Aramco’s landmark IPOEven if Saudi Arabia only sells 1% of Aramco it will be the world’s biggest IPO.
6:29 a.m. Nov. 9, 2019 - By AnnaMaria Andreotis
More borrowers are going underwater on car loans As cars become more expensive, buyers are getting hampered by burdensome loansConsumers, salespeople and lenders are treating cars a lot like houses during the last financial crisis: by piling on debt to such a degree that it often exceeds the car’s value.
9:38 a.m. Nov. 6, 2019 - Barrons.com
A Walgreens LBO Sounds Like a Stretch A growing number of skeptics are casting doubt on the financial case for taking Walgreens Boots Alliance private in a debt-financed buyout.
2:46 p.m. Nov. 3, 2019 - By Lina Saigol
Here’s what investors need to know about the long-awaited Saudi Aramco IPOEven if Saudi Arabia only sells 1% of Aramco it will be the world’s biggest IPO.
6:02 a.m. Nov. 1, 2019 - Barrons.com
Surprise! BBB-Rated Corporate Bonds Are Booming, After All. Despite widespread fears, 2019 has seen a big rally in BBB corporates, resulting in falling yields and strong total returns.
4:21 a.m. Nov. 1, 2019 - By Jeffry Bartash
U.S. adds better-than-expected 128,000 jobs in October as economy holds strong Unemployment rate rises to 3.6% from 3.5% — still near a 50-year nadir The U.S. created 128,000 new jobs in October and hiring was stronger at the end of summer than previously reported, suggesting the economy is still holding up better than expected despite trade turbulence and a slowdown in global growth.
12:10 a.m. Oct. 30, 2019 - Barrons.com
The SEC Fix for Conflicts of Interest at Credit-Ratings Firms Has Failed Postcrisis plan enabled unsolicited ratings, meant to limit bond issuers’ ability to exert influence over ratings firms. Few, if any, such ratings have been published.
3:02 p.m. Oct. 15, 2019 - By Joy Wiltermuth
WeWork bonds sink as bankers circulate rescue financing proposals Borrowing to pay your own debts is a ‘terrible sign’Debt investors are taking a more pessimistic view of WeWork after bankers circulated a potential $5 billion rescue financing package for the embattled office-share venture to help it stave off a cash-flow crisis
11:03 a.m. Oct. 14, 2019 - By Joy Wiltermuth
Here’s a look at how WeWork’s $50 billion pile of office leases could unravel Details emerge on proposed fundingSan Francisco and New York in crosshairs as WeWork struggles in the wake of its failed initial public offering
4:12 a.m. Oct. 7, 2019 - By Keith Jurow
This widening crack in the mortgage market could sink U.S. home prices Re-defaults on already modified mortgages are a threat to homeownersRe-defaults on already modified mortgages are a threat to homeowners, writes Keith Jurow.
3:05 a.m. Oct. 5, 2019 - Barrons.com
This Crack in the Mortgage Market Could Sink U.S. Home Prices Re-defaults on already modified mortgages are a threat to homeowners
6:45 a.m. Oct. 4, 2019 - By Joy Wiltermuth
Here’s what savvy bond investors are saying about the failed WeWork IPO WeWork bonds trading at 82 cents on the dollar FridayOffice-sharing venture WeWork is burning through cash, has tens of billions in outstanding leases and debt investors who are worried.
2:04 a.m. Oct. 1, 2019 - By Sunny Oh
Developed central banks expected to see biggest ‘synchronised easing’ since 2000 Slower global growth is pushing central banks to ease policy across the worldThere hasn’t been this many central banks easing policy in nearly two decades.
1:01 a.m. Sept. 30, 2019 - By Joy Wiltermuth
Plenty to fret about in growing pile of BBB-rated U.S. corporate debt Pinched profits and slower revenue growth increasing riskThe number of U.S. companies whose bonds have a BBB credit rating is rising, and the risk of them being downgraded to “junk” is increasing, as they report pinched profits and lower revenue growth, Goldman Sachs analysts said in a weekly note to clients.
7:48 a.m. Sept. 29, 2019 - By Tomi Kilgore
Wells Fargo new CEO removes ‘major overhang’ for stock, but buyers beware New CEO Scharf oversaw a decline in BNY Mellon’s stock during his leadership that was very similar to Wells Fargo’s selloffWells Fargo & Co. investors and analysts cheered the bank’s announcement of a new chief executive, but there is also reason to believe investors should take the news with a grain of salt.
7:11 p.m. Sept. 13, 2019 - By Jacob Passy
5 major changes the Trump administration wants to make to housing finance Creating competitors to Fannie Mae and Freddie Mac, and loosening mortgage regulations are among the proposed reformCreating competitors to Fannie Mae and Freddie Mac, and loosening mortgage regulations are among the proposed reform.
11:23 a.m. Sept. 10, 2019 - By Chris Matthews
Dow notches fifth straight gain as investors eye potential change in leadership Apple rolls out new iPhones, iPad and WatchU.S. stocks close mostly higher as investors look ahead to central-bank policy meetings and gauge developments on the U.S.-China trade front.
10:16 a.m. Sept. 10, 2019 - By Sunny Oh
Here’s why corporate debt investors may want to eye Ford’s downgrade into ‘junk’ Ford could become the fifth largest fallen angel in historyHigh-yield investors may struggle to digest the bonds from large fallen angels, high-yield issuers once rated investment-grade.
5:44 a.m. Sept. 10, 2019 - Barrons.com
Why Investors Shouldn’t Worry Over Ford’s Credit Downgrade Moody’s downgraded bonds of the iconic American auto maker to junk status, sending shares lower Tuesday morning. Based on Wall Street reports, that may be an overreaction.
1:01 p.m. Sept. 9, 2019 - Barrons.com
Ford’s Credit Rating Just Got Cut to Junk by Moody’s The detente in the trade war hasn’t been enough to salvage Ford Motor’s investment-grade credit rating in the eyes of one firm.
6:14 a.m. Sept. 9, 2019 - By Mark DeCambre
Why ratings agency Fitch downgraded Hong Kong’s credit after 3 months of political unrest Fitch sees ‘long-lasting damage to international perceptions’Fitch Ratings has downgraded Hong Kong’s credit rating as three-month months of angry protests have persisted, threatening “the stability and dynamism of its business environment,” the credit-rating agency said late Thursday.
9:06 a.m. Aug. 27, 2019 - Barrons.com
Fitch Just Updated GE’s Credit Rating. There’s No Downgrade, Despite Downbeat News. The ratings company kept General Electric’s debt at BBB+, the third notch above speculative grade.
4:33 a.m. Aug. 27, 2019 - By Tomi Kilgore
Fitch keeps GE's BBB+ rating and negative outlook intact, despite 'mix of developments'Fitch Ratings affirmed General Electric Co.'s BBB+ credit rating, and negative outlook, saying that the "mix of developments" over the past couple months, including alleging financial improprieties, "has not substantially altered" its base-case for the company. At Fitch, a BBB+ rating is just 3 notches above speculative grade, or "junk" status. The rating agency last affirmed the rating and negative outlook, which warns of a downgrade, in June. Fitch said that while the whistleblower's report about concerns about liabilities at GE's long-term care insurance business, value of Baker Hughes a GE Co. , working capital, GE Power and the aircraft engine and leasing businesses are valid topics of discussion regarding GE's credit profile, Fitch said it did not agree with many of the report's conclusions. "Fitch already considers these topics in its ratings for GE, and some are highlighted as risks supporting the current negative rating outlook," Fitch said. GE's stock gained 0.4% in morning trading. It has hiked up 11.1% year to date, while the Dow Jones Industrial Average has gained 11.5%.
10:10 a.m. Aug. 21, 2019 - Barrons.com
And the Most Aggressive Private-Equity Deal Sponsor Is... Vista Equity Partners, as measured by the quality of covenants in new debt issued in the past 18 months, according to Xtract Research.
10:32 a.m. Aug. 20, 2019 - By Joy Wiltermuth
Credit Suisse and Citigroup join other major banks in mortgage bond revival, with a twist ‘Non-qualified’ mortgage bond supply could hit $21 billion this yearIt is taken a decade, but Credit Suisse and Citigroup, are back to creating mortgage bonds out of debt to homeowners with less-than-spotless credit, this time dubbed ‘non-qualified’ loans
5:59 a.m. Aug. 20, 2019 - Barrons.com
Elanco Stock Tumbles After It Announces a Deal to Acquire Bayer’s Animal-Health Business Elanco Animal Health is one of the largest companies in its field and it plans to get a lot bigger with the $7.6 billion acquisition of Bayer’s animal-health business.
3:31 a.m. Aug. 17, 2019 - By Steve Goldstein
Central banks haven’t shifted direction this abruptly in a decade More than a third of central banks have shifted policy in past six months - Fitch The shift in central bank monetary policy direction during the last six months hasn’t been this dramatic in a decade.
11:42 a.m. Aug. 14, 2019 - Barrons.com
WeWork Wants in on the IPO Bonanza Here Are 5 Things to Know. We Co., the parent of office-space manager WeWork, has filed for an initial public offering. The IPO is sure to test the public’s appetite for companies that pursue growth at a high cost.
2:32 a.m. Aug. 12, 2019 - By Tomi Kilgore
Kraft Heinz credit in danger of downgrade to 'junk' after outlook revised to negativeKraft Heinz Co.'s credit rating is now in danger of downgrade into "junk" territory at Fitch Ratings, which cited the uncertainty around the food company's "go forward" strategy, high leverage and a pause in asset sales need to reduce debt. Fitch affirmed its BBB- rating, which is its lowest investment grade rating, cut revised its outlook to negative from stable. Both Moody's Investors Service and S&P Global Ratings also rate Kraft Heinz just one notch above speculative grade but have stable ratings. Fitch says that barring any improvement in earnings before interest, taxes, depreciation and amortization (Ebitda), Kraft Heinz would have to further cut its dividend or resume asset sales to bring gross leverage below the 4.25X rating downgrade threshold, with current guidance for 2019 in the 4.6X-4.8X range. Kraft Heinz's stock has tumbled 14% the past two sessions to close Friday at a record low, after the company released that included more than $1.2 billion in impairment charges, and said it would miss the deadline to file its 10-Q quarterly report with the Securities and Exchange Commission. The stock has slumped 38.4% year to date, while the S&P 500 has gained 16.4%.
11:59 a.m. Aug. 9, 2019 - By Joy Wiltermuth
Barings takes contrarian view and says time is right to invest in U.S. corporate loans Junk bonds and leveraged loans now offer comparable yields in the 6% rangeConcerns about risky leveraged loans may be overblown, says Barings, particularly when default rates are expected to hover around 2% over the near-term
9:39 a.m. Aug. 3, 2019 - By Mark Hulbert
If the stock market is irrational, what do you call the bond market? It’s even crazierIt’s even crazier.
3:18 p.m. Aug. 2, 2019 - Barrons.com
Corporate Issuers Say They’re Tired of Hedge Fund Bullying. Now They’re Fighting Back. Debt issuers are taking steps to legally restrict funds’ use of credit default swaps to “manufacture” corporate defaults
4:32 a.m. Aug. 2, 2019 - By Ciara Linnane
Fitch Ratings downgrades Pfizer to A vs. A-plus with negative outlook Fitch Ratings downgraded Pfizer Inc.'s long-term issuer default rating by one notch to A from A-plus on Friday, after the closing of the acquisition of Array BioPharma earlier this week. "Fitch believes that the Array acquisition makes strategic sense, as it increases Pfizer's presence in oncology," the ratings agency said in a statement. "However, it pressures the financial profile and increases leverage (total debt/EBITDA). While Fitch expects Pfizer to reduce debt with a portion of the $12 billion proceeds from the expected Upjohn divestiture in 2020, leverage is expected to remain above the 1.7x that Fitch considered to be consistent with Pfizer's previous 'A+' IDR." The $11.4 billion acquisition is expected to be funded with debt. Pfizer shares were last up 0.3% and have fallen 12% in 2019, while the Dow Jones Industrial Average has gained 14% and the S&P 500 has gained 17%.
Fitch Ratings downgrades Pfizer to A vs. A-plus with negative outlook
4:29 a.m. Aug. 2, 2019
2:17 a.m. July 31, 2019 - By Tomi Kilgore
Capital One’s ‘pride’ hurt by data breach but not much else, analysts say Data breach doesn’t change the bullish long-term view, J.P. Morgan saysShares of Capital One took a dive Tuesday, after the financial services company announced a major data breach affecting 100 million people in the U.S., but Wall Street analysts say investors shouldn’t rush to sell.
10:48 a.m. July 26, 2019 - By Sunny Oh
Treasury yields hold the line after weak inflation supports calls for Fed rate cut Second-quarter growth comes in at 2.1%, down from 3.1%Treasury yields are mostly unchanged Friday after the government reports U.S. economic growth did not slow as much as expected in the second quarter, according to the first official reading of second-quarter GDP.
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