Streetbeat News

Credit Ratings

SPY

Federal Reserve policymakers have revised their projections for the end of 2024, expecting PCE inflation to be at 2.3%, down from 2.6% in June, and core inflation at 2.6%, down from 2.8%. GDP growth is projected at 2.0%, slightly lower than the previous 2.1% forecast.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2024 | 6:08 pm

SPY

The Federal Reserve's projections indicate a median long-term Fed funds rate of 2.9%, with expected rate cuts totaling 200 basis points by 2026. Unemployment is projected to rise to 4.4% by the end of 2024 and 2025.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2024 | 6:07 pm

PGY

Pagaya has successfully closed a $500 million consumer loan asset-backed securities (ABS) deal, marking its second AAA-rated securitization of 2024. This brings its total raised to $4.4 billion this year, solidifying its position as a leading personal loan ABS issuer in the U.S.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2024 | 12:35 pm

VFC

Moody's has downgraded VF Corp.'s senior unsecured ratings to junk status, leading to a decline in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

September 17, 2024 | 7:42 pm

CPSS

Consumer Portfolio Services, Inc. (NASDAQ:CPSS) completed its fourth term securitization in 2024, selling $416.82 million of asset-backed notes secured by $436 million in automobile receivables. This marks CPS's 53rd securitization since 2011, with the senior class of notes receiving a triple 'A' rating from at least two agencies.

Portfolio Pulse from Benzinga Newsdesk

September 17, 2024 | 4:38 pm

ACRDF

AYRWF

CBSTF

JUSHF

TSND

The cannabis debt market is experiencing significant activity, with $632M in proceeds from recent transactions. Companies like TerrAscend, Jushi, AYR, PharmaCann, Cannabist, and Acreage are involved in refinancing existing debt. The market is accurately pricing credit risk, and demand exists across the credit quality spectrum.

Portfolio Pulse from Viridian Capital Advisors

September 16, 2024 | 2:55 pm

BA

SPY

The S&P 500 closed higher due to a rise in consumer sentiment, while Moody's placed Boeing's credit rating on review for a potential downgrade amid ongoing strikes.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2024 | 8:06 pm

BA

GCAD

ITA

Boeing faces challenges as a strike by 33,000 workers impacts its operations. BofA analyst Ronald J. Epstein maintains a Neutral rating on Boeing, with a $200 price target, highlighting the company's vulnerability due to delayed production and potential need for wage concessions. Boeing's stock has dropped 25% over the past year, and Moody's has placed its ratings on review for downgrade. Investors can access Boeing through ETFs like iShares U.S. Aerospace & Defense ETF and Gabelli Commercial Aerospace and Defense ETF.

Portfolio Pulse from Nabaparna Bhattacharya

September 13, 2024 | 6:22 pm

BA

Boeing shares declined as workers rejected a labor contract, initiating a strike. Moody's placed Boeing's ratings on review for downgrade due to these concerns.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2024 | 4:46 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