Streetbeat News

Credit Ratings

ZETA

Zeta Global has secured a $550 million loan facility to refinance its existing debt and reduce credit costs. The facility includes a $200 million Term Loan A and a $350 million Revolving Credit Facility, which is currently undrawn.

Portfolio Pulse from Benzinga Newsdesk

September 03, 2024 | 10:33 am

QQQ

SPY

TLT

UTEN

UUP

Fitch Ratings reaffirmed the U.S. credit rating at 'AA+' with a stable outlook, highlighting strengths like high per capita income and the U.S. dollar's financial flexibility. However, concerns over escalating debt and political polarization were noted. The U.S. economic growth is projected to decelerate, with a slight narrowing of the deficit expected in 2024. Treasury yields and the U.S. dollar remained broadly unchanged following the report, while Treasury-linked ETFs fell.

Portfolio Pulse from Piero Cingari

August 29, 2024 | 8:23 pm

SPY

Fitch Ratings has affirmed the United States' credit rating at 'AA+' with a stable outlook. The rating is constrained by high fiscal deficits, substantial interest burden, and high government debt.

Portfolio Pulse from Benzinga Newsdesk

August 29, 2024 | 4:57 pm

EWW

FLMX

The Mexican peso gained 0.5% against the U.S. dollar after President AMLO clarified that diplomatic relations with the U.S. and Canada remain intact, despite a pause with their embassies in Mexico. Concerns persist over AMLO's proposed judicial reform, which could impact Mexico's investment outlook. U.S.-listed ETFs focused on Mexican equities showed mixed performance.

Portfolio Pulse from Piero Cingari

August 28, 2024 | 7:51 pm

EWW

Mexican financial assets are under pressure due to a controversial judicial reform proposal, leading to a decline in the iShares MSCI Mexico ETF (EWW) and the Mexican peso. The reform, supported by President-elect Claudia Sheinbaum, faces criticism for potentially compromising judicial independence. Diplomatic tensions with the U.S. have risen, and rating agencies and investment banks have expressed concerns about the economic impact, with Morgan Stanley downgrading Mexico to Underweight.

Portfolio Pulse from Piero Cingari

August 27, 2024 | 8:10 pm

AAWH

CURA

GTII

JUSHF

TSNDF

The U.S. Cultivation & Retail cannabis sector is experiencing increased debt issuance in H2:24, primarily for refinancing activities. Companies like Ascend, Jushi, and Terrascend have secured attractive rates despite high debt levels. The effective cost of debt has decreased significantly, and further tightening of spreads is anticipated.

Portfolio Pulse from Viridian Capital Advisors

August 26, 2024 | 2:50 pm

AMGN

Moody's has revised Amgen's credit outlook from negative to stable, indicating improved financial stability for the company.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2024 | 7:47 pm

SPY

The Federal Reserve's July meeting minutes reveal that a majority of members support easing monetary policy if economic data aligns, due to confidence in inflation moving towards 2% and increased employment risks. Some members backed a 25-basis-point rate cut.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2024 | 6:02 pm

GRFS

Brookfield Asset Management is negotiating $10.6 billion in debt financing for a potential acquisition of Grifols SA, a Spanish pharmaceutical company. This move could lead to significant financial restructuring and has already impacted Grifols' bond and stock prices.

Portfolio Pulse from Vandana Singh

August 21, 2024 | 3:32 pm

AAWH

CBSTF

GTBIF

JUSHF

TSNDF

The cannabis credit markets are seeing major refinancings with companies like Ascend, TerrAscend, and Jushi. The article emphasizes the importance of monitoring the Total Liabilities to Market Cap ratio as an early warning sign of credit difficulties. This metric is more responsive to market changes than Debt/EBITDA and is crucial for assessing financial flexibility and default risk.

Portfolio Pulse from Viridian Capital Advisors

August 19, 2024 | 5:44 pm