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...S&P Global Ratings said in a report on Thursday that triple C borrowers would “contend with weak cash flow and elevated interest expenses this year”, while “defaults in 2024 [would] largely come from consumer-facing...
...But otherwise, give me a V-sweet C-suite job any time. As if anyone would....
...Typically, these are to either a) pay cash coupons; b) toggle to ‘pay’ bondholders with more debt claims, albeit with some additional penalty (even more debt claims); c) to PIK for a while then switch to...
...) big enough to make a meaningful impact on Berkshire’s earnings, (b) possible to reliably value, (c) have trustworthy and competent management, and (d) are available at a reasonable price....
...(c) 1 LOB (“Services”) = almost all of Citi’s market cap....
...authorize the United States Department of Justice “to attend to the interests of the United States” by “argu[ing] any case in a court of the United States in which the United States is interested.” 28 U.S.C...
...I was there with friends on the promise of transgressive S&M....
...Traders are marking a riskier £250mn “class B” bond at little over 60 pence in the pound....
...The S&P 500 is not yet quite as expensive as it was in the zero-rate, fiscal bonanza, everyone-has-loads-of-cash glory days of 2021. But it is getting closer....
...Space-age design II Up 1 (1969) Created by Gaetano Pesce for B&B Italia, this vacuum-packed foam chair came flat....
...In contrast, the S&P 500’s price-to-book ratio is close to the record 5 times it touched in 2021 and 2000 (the Nasdaq’s P/B ratio is close to 7.5 times)....
...We also lowered our local currency (LC) sovereign credit ratings on Cameroon to ‘CCC+/C’ from ‘B-/B’. The outlook on the LC long-term rating is stable....
...They’re digital tokens backed either by a) dollar-denominated portfolios of safe assets; b) unaudited promises that they have safe assets; or c) magical confidence maths that only work until a death spiral...
...In the case of the McKinsey report published in 2020, the main study gathered data about diversity on the boards and in the C-suites of more than 1,000 large global companies....
...“Tape Loops B & C” are continuous improvisations which, divided into multiple parts, most capture the feel and spontaneity of a tight-working band....
...Most other white first moves fail to Rh6+-h8 or Rf1+-b1 stopping White’s b pawn. Chess: 2287 (a) e3 (b) h1 (c) a8 and mate by 1 Qc8 (d) g7....
...We like boxes B and C. Will the long end follow the short end down, and why? We can debate how much short rates will come down, but it seems pretty clear that they will fall....
...Fitch downgraded the company to B- this week. Commercial real estate is in even worse shape. US flexible offices group WeWork was recently downgraded to CC, one notch above a C rating....
...So money that did go into high yield went into higher quality, including double-B bonds....
...“Is it true that triple-C firms have interest coverage ratios below 1? Definitely, but that’s always been the case....
...Slok: In some cases triple C, even single B credit looks more vulnerable, because those are the firms that are more vulnerable to higher interest rates....
...One group sang to the tune of YMCA, “H-S-B-C, get your money out of H-S-B-C . . . they’re selling greenwashing lies . . . investors complicit up to their eyes”....
...Chart from S&P Global, through September: Part of the reason for this is that companies are making money....
...There is still demand for lower-quality single-B loans, said Drew Sweeney, a loan portfolio manager at asset manager TCW, referring to the rating just above triple-C....
...CUT TO: THE PARLOUR OF THE B&B A woman is watching TV. In the corridor behind her, Phil walks by, dressed in a robe, carrying an electric toaster and a towel, heading for the bathroom....
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