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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...
...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....
...This is roughly comparable to average default rates observed in companies that receive a B credit rating from S&P (3.4 per cent) and a B3 from Moody’s (4 per cent)....
...Canada’s main stock index, the S&P/TSX Composite, has advanced 31 per cent since 2019, compared with a 74 per cent gain for the S&P 500....
...Canada’s main stock index, the S&P/TSX Composite, has advanced 31 per cent in the last five years, compared to a 74 per cent gain for the S&P 500....
...or for worse, including in this age of ours the difficult choice of geostrategic partners; and c) the basis of trade is industry, not tariffs....
...b) The majority she had inherited was too small to deliver Brexit. c) Any election in which the Labour party was led by Jeremy Corbyn was a massive gimme....
...But otherwise, give me a V-sweet C-suite job any time. As if anyone would....
...Tim Rourke, UK head of P&C pricing, product, claims and underwriting at WTW, said the data suggested “the relentless rise in prices may finally be turning a corner”....
...These have picked up markedly in recent years, from a low of about 400,000 b/d in the pandemic year of 2020 to about 1.4mn b/d recently, according to Richard Bronze at Energy Aspects....
...Nearest subway stop is Houston Street Station on the 1 line, but West 4th St (A, C, E, B, D and F lines) is just a short walk away. How much? $20 per person....
...The country’s rating was previously double-B-plus, signifying speculative or junk status....
...In a Monday update, the rating agency moved Ford up to triple-B minus from double-B plus....
...At nearly 12 per cent it dwarfs the 7.5 per cent that US high-yield bonds pay, and is close to the effective yield of super-junky triple-C bonds....
...“Don’t expect anyone to say publicly ‘this is the plan’ and A, B and C are now going to happen,” Radakin said....
...Traders are marking a riskier £250mn “class B” bond at little over 60 pence in the pound....
...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)....
...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....
...They need a plan B and a plan C,” said Patricia Lenkov, an expert on corporate governance and succession.No company wants to deal with the ramifications of disaster successions such as Microsoft’s in 2013...
...However, the maker of Oral-B toothpaste and Tide detergent trimmed the low end of its sales growth guidance due to the strong US dollar....
...Digging through the data of S&P Global offers surprising findings. Sub-Saharan African sovereigns rated in the B category between 2010 and 2023 defaulted in 22 per cent of all cases within five years....
...He also had a vintage Alanda coffee table by Paolo Piva – a new version of which is made by B&B Italia (from $2,318)....
...With just 1.2bn people having an income above $12K a year, Apple is valued on an EV per pop of c$2,300, which requires c$800pp of annual spend, on the global equity strategy team’s calculations. 4....
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