Streetbeat News

Credit Ratings

CCAP

Crescent Capital BDC's baby bond FCRX offers a 7.16% yield to maturity, outperforming sector benchmarks by 2%. The company has a Baa2 credit score, strong profitability, asset quality, and leverage, but relies on refinancing unsecured notes.

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February 11, 2025 | 7:00 pm

FCN

FTI Consulting, Inc. released its 2025 Leveraged Loan Market Survey, indicating lender optimism due to easing interest rates, ample lending capital, slowing inflation, and a favorable environment for large corporate borrowers.

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February 10, 2025 | 12:45 pm

KLPEF

O

Klepierre, a European Retail REIT, shows strong fundamentals with a 6.32% yield and BBB+ rating. Despite a 10% discount to its EPRA NTA, its growth is expected to be slower, with a 4% EBITDA increase in 2024. US-based REITs like Realty Income offer more attractive opportunities.

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February 08, 2025 | 7:00 am

PRMB

Primo Brands Corporation has announced the early tender results and early settlement election for its exchange offers concerning outstanding senior notes. Additionally, the company has executed supplemental indentures to existing senior notes indentures.

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February 08, 2025 | 1:30 am

MYNA

Mynaric AG has secured a $28 million bridge loan, extended three existing bridge loans, agreed to a $25 million restructuring loan, and initiated a financial restructuring under Germany's StaRUG.

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February 07, 2025 | 9:00 pm

CVNA

KBRA has assigned preliminary ratings to Carvana Auto Receivables Trust 2025-N1, a non-prime auto loan ABS transaction. The transaction features credit enhancement levels ranging from 41.95% to 1.25% across different classes of notes.

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February 05, 2025 | 5:00 pm

WFC

Wells Fargo & Co.'s 7.50% Non-Cumulative Perpetual Convertible Preferred Stock, Series L (WFC-L) is highlighted for its attractive yield and potential for capital appreciation. The stock benefits from Wells Fargo's strong financials and credit ratings, ensuring reliable dividend payments.

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February 05, 2025 | 1:15 pm

EG

AM Best has maintained the Financial Strength Rating of A+ and Long-Term Issuer Credit Ratings of 'aa-' for Everest Group, Ltd. and its subsidiaries, despite a recent earnings release showing $1.7 billion in net reserve strengthening.

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February 04, 2025 | 9:00 pm

E

AM Best has assigned a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of 'a' (Excellent) to Eni Insurance S.p.A., a captive of Eni S.p.A. The outlook is stable, reflecting EIS's strong balance sheet and operating performance.

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February 04, 2025 | 4:45 pm

PCG

PG&E Corp. stock has dropped 22% this year due to the Los Angeles wildfires, even though they are outside its service area. Fitch Ratings has maintained its rating, indicating that any use of the state's wildfire fund should be manageable. The convertible issue PCG.PR.X offers a 7% dividend yield and potential upside.

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February 03, 2025 | 10:00 pm