Streetbeat News

Credit Ratings

MCO

Moody's Corporation has unveiled the Vietnam Investors Service And Credit Rating Agency Joint Stock Company (VIS Rating), in partnership with Vietnamese financial institutions. The Vietnam Ministry of Finance issued a credit rating agency license to VIS Rating. The agency will provide credit rating services to domestic corporate issuers in Vietnam. Moody's shares closed lower by 0.79% to $340.69 on Tuesday.

Portfolio Pulse from Nabaparna Bhattacharya

September 20, 2023 | 12:33 pm

BAC

Bank of America's CFO has stated that the bank is adding a million credit cards per quarter, but also expressed disappointment over the bank's loan growth.

Portfolio Pulse from Charles Gross

September 20, 2023 | 11:42 am

MCO

Moody's Corporation (MCO) has partnered with leading financial institutions in Vietnam to establish VIS Rating, a new credit rating agency in the country. This move is expected to enhance the transparency and efficiency of Vietnam's financial market.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 7:01 am

AMZN

GOOG

MSFT

TSM

Several major companies have made headlines. Amazon has hired Microsoft's Chief Product Officer, Panos Panay. Google is under scrutiny for allegedly manipulating ad auctions. Taiwan Semiconductor Manufacturing is planning to boost packaging capacity in Arizona. Microsoft has addressed a security incident involving sensitive information exposure on GitHub. Novo Nordisk has partnered with Aspen Pharmacare to produce insulin in South Africa. BeiGene has regained rights to its cancer drug from Novartis. Rocket Lab's 41st mission faced technical issues. The European Commission has approved ViiV Healthcare's HIV prevention drug. AutoZone's Q4 earnings exceeded estimates. BP has appointed Kate Thomson as interim CFO. MGM Resorts may lose out on casino licenses in NYC due to a scandal. Google and the Department of Defense are developing an AI-powered microscope. Apple faces threats from Huawei in China. Google's Bard AI chatbot is being integrated with Gmail, Google Docs, and YouTube. Starbucks is facing a lawsuit over its 'fruit' drinks.

Portfolio Pulse from Vandana Singh

September 19, 2023 | 2:01 pm

GCI

Gannett has reported additional debt reduction, with Apollo waiving $13.1 million of scheduled amortization payment for Q3 2023 to repurchase $15.0 million of 2026 Senior Notes at a discount to par value of 87.5%. Gannett remains on track to repay over $130 million of debt and reduce first lien net leverage below 2.0x by the end of 2023.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2023 | 11:11 am

NOMD

Nomad Foods has repriced its existing Term Loan B of $700M principal due 2029. The margin on the term loan will be reduced by 75 basis points, which is expected to result in approximately €5M annual cash interest savings.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2023 | 10:50 am

TLT

Financial experts Jim Bianco and Mohamed El-Erian have warned of a potential inflationary storm due to the surge in oil prices and the economy's resilience. They predict further interest rate hikes and a multi-year bear market for bonds. The iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT) has fallen 47% since its July 2020 highs. Bianco forecasts a rate hike in November and another at the start of 2024.

Portfolio Pulse from Piero Cingari

September 15, 2023 | 5:02 pm

AAP

Advance Auto Parts' credit rating has been downgraded to 'junk' status by S&P Global, leading to a decrease in the company's share price.

Portfolio Pulse from Bill Haddad

September 12, 2023 | 7:53 pm

CVNA

Carvana's shares are trading higher following an upgrade in its rating from 'D' to 'CCC+' by S&P Global.

Portfolio Pulse from Bill Haddad

September 11, 2023 | 7:39 pm

CVNA

S&P Global has upgraded Carvana Co. from 'D' to 'CCC+'.

Portfolio Pulse from Bill Haddad

September 11, 2023 | 7:37 pm