Moody’s changes rating to negative on ten UK PFI
Moody’s affirmed the A2 underlying debt ratings of seven UK hospital Private Finance Initiative (PFI) project issuers: Criterion Healthcare PLC, Endeavour SCH PLC, HPC King’s College Hospital (Issuer) PLC, United Healthcare (Bromley) Limited, Hospital Company (Swindon and Marlborough), Worcestershire Hospital…
SANTANDER’S RMBS CREDIT DERIVATIVE LOANS PORTFOLIO DOWNGRADED
Moody’s downgraded the rating of Class B notes in FONDO DE TITULIZACIÓN RMBS SANTANDER 7 (“RMBS Santander 7”). The rating action reflects worse-than-expected collateral performance and the unpaid interest accumulated in Class B notes. Moody’s affirmed the rating of the…
Moody’s downgrades all of EMEA CMBS credit derivatives issued by HAUS
Moody’s has today downgraded all classes of EMEA CMBS issued by HAUS (EUROPEAN LOAN CONDUIT) DAC (“Issuer”): ….EUR 194.2M Class A1 Notes, Downgraded to Aa1 (sf); previously on Aug 23, 2021 Definitive Rating Assigned Aaa (sf) ….EUR 19.1M Class A2…
Adidas’debt credit rating downgraded, on declining profit and retail sales
Adidas senior unsecured debt credit rating downgraded to A3 from A2 the long-term issuer ratings of Adidas AG. Moody’s also downgraded Adida’s short-term issuer rating to Prime-2 from Prime-1. RATING RATIONALE Today’s rating action is prompted by a steep profit…
Moody’s downgrades Checkers PDR to Ca-PD/LD following missed principal payment on first-lien term loan facilities
Moody’s downgraded Checkers Holdings, Inc.’s (Checkers) probability of default rating (PDR) to Ca, its corporate family rating (CFR) to Ca from Caa2 and its senior secured bank credit facility to Caa3 from Caa1. The downgrades follow the expiration of the…
Moody’s downgrades Checkers Holdings credit rating to Ca following missed principal payment on first-lien term loan facilities
Moody’s downgraded Checkers Holdings, Inc.’s (Checkers) probability of default rating (PDR) to Ca, its corporate family rating (CFR) to Ca from Caa2 and its senior secured bank credit facility to Caa3 from Caa1. The downgrades follow the expiration of the…
Moody’s downgrades Provident Group to Caa3 following payment default
Approximately $36 million of debt securities affected Moody’s has downgraded to Caa3 from Caa2 the ratings assigned to Provident Group senior secured obligations, including the senior secured revenue bonds following a payment default on the May 1, 2023 debt service…
CMBS STRUCTURED FINANCE DEBT ISSUED BY JPMCC DOWNGRADED
Approximately $309 million of structured securities affected downgraded the ratings on two classes of CMBS securities, issued by J.P. Morgan Chase Commercial Mortgage Securities Trust 2019-MFP, Commercial Mortgage Pass-Through Certificates, Series 2019-MFP as follows: Cl. A, Affirmed Aaa (sf); previously…
Moody’s downgrades Yale New Haven Health Services Corporation (CT) to A1
Moody’s Investors Service has downgraded Yale New Haven Health Services Corporation’s (YNHH, CT) revenue bond ratings to A1 from Aa3. Yale New Haven Health Services Corporation (HSC) is the obligated group agent and borrowing entity for Yale New Haven Health…
Economies with persistent large deficits financed by borrowing, become prone to sustained higher inflation
Economies with persistent large deficits financed by borrowing, become prone to sustained higher inflation. When deficits become too large eventually there’s no amount of money printing that plugs the deficit hole. U.S. Balance of trade U.S. Budget Expenditure to GDP…
Sterling money market rates pricing a 5% bank rate peak at the Bank of England
The 3-Month (Sterling Overnight Index Average) interest rate curve forecast a 5% money market peak interest rate according to the Bank of England These are the Bank of England rates and forwards. the daily rate was 4.18%. That also could…
Commercial Property Prices decreased by -15% since property prices peaked a year ago
Commercial Property Price Index decreased by 0.2% in March. The index has fallen by -15% since property prices peaked a year ago. The chart tracks CRE in America. “Transaction volumes remain low, but our estimates put the bid price about…
Housing Market prices inflating to unhealthy excesses for credit markets
The housing market has probably increased to risky levels for credit markets. Since 2009, from the lowest average price to Q4 2022, Housing prices in the UK capital have increased by an average of 195.22%. The average First-time buyer house…
Treasuries yield curve correlated to CPI Inflation expectations
February CPI (excluding food & energy) year on year was 6.1%, and in Feb 2021 was 1.3%. that makes the 2Y inflation expectation about 4.8%. Fed Funds at the minute are on neutral. ECB and BoE are in much worse…
FTSE 250 HAS BEEN AMONG THE WORST INDEX GLOBALLY. UK STOCKS ARE COMPLETE RUBBISH
Pound-denominated equities are among the worst globally for investors, UK equities and stocks are very bad and unprofitable investments. The FTSE 250 a basket of mid-cap stocks has been constantly among the worst index globally for returns, in fact, the…
EURO AREA HICP INFLATION DATA BENEFITS FROM DECREASING ENERGY PRICES
Euro Area Inflation data are quite controversial. CORE CPI jumps to 1.2% an increase of 0.4% from the previous month, therefore CPI CORE INFLATION year on year needs to be 6.0%, not 5.7%. 0.9% CPI Inflation increased +0.1% from the…
Commercial Real Estate securitized credit derivatives downgraded, because of declining credit quality
downgraded the ratings on six classes in COMM 2012-CCRE2 Mortgage Trust (“COMM 2012-CCRE2”), Commercial Pass-Through Certificates, Series 2012-CCRE2 as follows: Cl. D, Downgraded to Ba1 (sf); previously on Sep 22, 2022 Downgraded to Baa2 (sf) Cl. E, Downgraded to B1…
