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…