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Credit

CLF

Cleveland-Cliffs has secured a $4.75 billion amended asset-based lending facility to support its acquisition of Stelco. The facility replaces Goldman Sachs with increased commitments from multiple banks. CEO Goncalves emphasized strong support and a solid financial position to close the deal by Q4 2024.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2024 | 6:52 pm

BA

Moody's has indicated that Boeing's credit ratings could be downgraded if the company needs to issue debt in addition to raising equity to meet its liquidity needs.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2024 | 4:35 pm

BA

Fitch Ratings has warned that a prolonged strike at Boeing could increase the risk of a credit downgrade due to operational and financial impacts. An extended strike may force Boeing to seek new liquidity sources to meet cash targets. Boeing's negative outlook also reflects operational and certification risks for its 2026-2027 production goals.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2024 | 4:33 pm

BA

Boeing's CFO, at Morgan Stanley's 12th Annual Laguna Conference 2024, emphasized the company's focus on maintaining an investment-grade rating and stabilizing its supply chain and factory operations. However, achieving these goals has become more challenging.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2024 | 4:21 pm

BA

Fitch Ratings has indicated that a prolonged strike at Boeing could pose a risk of a credit rating downgrade for the company. This highlights potential financial challenges for Boeing if the strike continues.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2024 | 4:08 pm

NCNC

noco-noco shares declined after the company announced a standby equity line of credit with Arena Investors, allowing it to issue and sell up to $150 million in common stock.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2024 | 2:02 pm

KW

Kennedy Wilson has expanded its unsecured revolving credit facility from $500M to $550M in collaboration with 10 banks. The facility has a three-year term with two six-month extensions, and loans will bear interest at SOFR plus a spread of 1.75% to 2.75%.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2024 | 10:04 am

BTCUSD

Peter Schiff and DogeDesigner highlight concerns over the U.S. national debt, which has seen interest payments exceed $1 trillion for the first time. They argue that government overspending is the root cause of inflation, and Schiff warns of potential economic downturns despite anticipated Fed rate cuts.

Portfolio Pulse from Aniket Verma

September 13, 2024 | 3:47 am

UAL

United Airlines' executive expressed a goal to achieve a net debt to EBITDA ratio of two times, indicating a focus on financial stability and debt management.

Portfolio Pulse from Benzinga Newsdesk

September 12, 2024 | 8:26 pm

MRVI

Maravai Lifesciences Holdings has amended its existing credit agreement to extend the maturity date of its revolving credit facility by five years.

Portfolio Pulse from Benzinga Newsdesk

September 12, 2024 | 8:13 pm