Credit

Acadia Healthcare Reports Fourth Quarter 2023 Results

Retrieved on: 
Tuesday, February 27, 2024

Acadia Healthcare Company, Inc. (“Acadia” or the “Company”) (NASDAQ: ACHC) today announced financial results for the fourth quarter and year ended December 31, 2023.

Key Points: 
  • Acadia Healthcare Company, Inc. (“Acadia” or the “Company”) (NASDAQ: ACHC) today announced financial results for the fourth quarter and year ended December 31, 2023.
  • Chris Hunter, Chief Executive Officer of Acadia, remarked, “Our fourth quarter performance capped off another outstanding year for Acadia.
  • During the fourth quarter of 2023 and into the first quarter of 2024, the Company continued to make progress in meeting its strategic growth objectives with the following accomplishments across its five defined growth pathways:
    Facility Expansions – Added 98 beds to existing facilities in the fourth quarter, for a total of 302 new beds added in 2023.
  • Extend Continuum of Care – Expanded treatment options by adding 13 outpatient programs during the fourth quarter, bringing Acadia’s total to 39 outpatient programs added during 2023.

AM Best Affirms Credit Ratings of Compañía Internacional de Seguros, S.A.

Retrieved on: 
Tuesday, February 27, 2024

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Compañía Internacional de Seguros, S.A. (CIS) (Panama City, Panama).

Key Points: 
  • AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Compañía Internacional de Seguros, S.A. (CIS) (Panama City, Panama).
  • The outlook of these Credit Ratings (ratings) is stable.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings .
  • For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments .

Barclays and Blackstone Credit & Insurance Agree to Sale of Credit Card Receivables

Retrieved on: 
Tuesday, February 27, 2024

Barclays PLC ("Barclays") and Blackstone Credit & Insurance (“Blackstone”) today announced that Barclays Bank Delaware ("BBDE") has entered into an agreement with insurance accounts managed by Blackstone’s Asset Based Finance group, to sell approximately US$1.1 billion of currently outstanding credit card receivables (the “Transaction”) in relation to a defined set of Barclays-branded credit card accounts in the United States of America (the “Accounts”).

Key Points: 
  • Barclays PLC ("Barclays") and Blackstone Credit & Insurance (“Blackstone”) today announced that Barclays Bank Delaware ("BBDE") has entered into an agreement with insurance accounts managed by Blackstone’s Asset Based Finance group, to sell approximately US$1.1 billion of currently outstanding credit card receivables (the “Transaction”) in relation to a defined set of Barclays-branded credit card accounts in the United States of America (the “Accounts”).
  • This is the first in a series of activities Barclays plans to conduct to reduce its risk-weighted assets (RWAs) and create additional lending capacity for BBDE.
  • As part of the Transaction, BBDE will enter into a long-term strategic forward flow sale and servicing arrangement with Blackstone related to the Accounts.
  • Barclays Bank PLC will invest into the Transaction alongside Blackstone’s insurance accounts.

myFICO: Save Money by Understanding How Credit Card Interest Works

Retrieved on: 
Tuesday, February 27, 2024

However, credit cards often have high interest rates, so in this article myFICO presents when and how credit cards charge interest, which can be important for managing your finances.

Key Points: 
  • However, credit cards often have high interest rates, so in this article myFICO presents when and how credit cards charge interest, which can be important for managing your finances.
  • One of the most important things to remember about credit card interest is that it only accrues on your purchases when you revolve a balance.
  • This might be a good strategy that helps you save money and get out of credit card debt sooner.
  • The timing of credit card bills and the daily interest accrual can also lead to residual or trailing interest — when interest accrues between the arrival of your statement and your bill's due date.

Roshal Health Announces $10 Million in Structured Equity Financing Led by Catalio Capital Management

Retrieved on: 
Tuesday, February 27, 2024

Key Points: 
  • View the full release here: https://www.businesswire.com/news/home/20240227009252/en/
    The structured equity financing was led by Catalio Capital Management, a leading multi-strategy healthcare and life science investment firm, with participation from Green Street Impact Partners.
  • Employing more than 300 people, Roshal offers services to hospital systems, standalone emergency rooms, micro-hospitals, rural hospitals, and offsite facilities nationwide.
  • “Catalio is thrilled to work alongside the Roshal team to solve a critical healthcare staffing shortage for imaging technicians," said John Henry Iucker, CFA, General Partner and Head of Credit at Catalio Capital Management.
  • Uplift Partners served as the exclusive financial advisor to Roshal Health, and DLA Piper served as legal counsel to the company.

AM Best Revises Issuer Credit Rating Outlook to Negative for Westfield Insurance Company and Affiliates

Retrieved on: 
Monday, February 26, 2024

AM Best has revised the outlook to negative from stable for the Long-Term Issuer Credit Ratings (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICRs of “a+” (Excellent) of Westfield Insurance Company and its affiliates, collectively known as Westfield Group (Westfield).

Key Points: 
  • AM Best has revised the outlook to negative from stable for the Long-Term Issuer Credit Ratings (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICRs of “a+” (Excellent) of Westfield Insurance Company and its affiliates, collectively known as Westfield Group (Westfield).
  • All companies are wholly owned subsidiaries of Ohio Farmers Insurance Company, the ultimate parent, and are domiciled in Westfield Center, OH.
  • Westfield expects growing business diversification to reduce its exposure to weather-related events and have further positive impact on operating results.
  • The FSR of A (Excellent) and the Long-Term ICRs of “a+” (Excellent) have been affirmed with the Long-Term ICR outlook revised to negative from stable, while the outlook of the FSR is stable for the following affiliates of Westfield Insurance Company:

SBA Communications Corporation Reports Fourth Quarter 2023 Results; Provides Full Year 2024 Outlook; and Declares Quarterly Cash Dividend

Retrieved on: 
Monday, February 26, 2024

Site leasing operating profit in the fourth quarter of 2023 was $516.8 million, an increase of 4.5% over the prior year period.

Key Points: 
  • Site leasing operating profit in the fourth quarter of 2023 was $516.8 million, an increase of 4.5% over the prior year period.
  • Tower Cash Flow in the fourth quarter of 2023 of $512.2 million was comprised of Domestic Tower Cash Flow of $392.0 million and International Tower Cash Flow of $120.2 million.
  • Tower Cash Flow Margin was 81.0% in the fourth quarter of 2023, as compared to 80.9% for the prior year period.
  • During the fourth quarter of 2023, SBA acquired 23 communication sites for total cash consideration of $21.3 million.

Innovative Industrial Properties Reports Fourth Quarter and Full-Year 2023 Results

Retrieved on: 
Monday, February 26, 2024

Issued shares of common stock under IIP’s “at-the-market” offering program (ATM Program) for net proceeds of approximately $9.6 million.

Key Points: 
  • Issued shares of common stock under IIP’s “at-the-market” offering program (ATM Program) for net proceeds of approximately $9.6 million.
  • Executed a new lease with a tenant at one of IIP’s retail properties in Michigan that was previously leased to Green Peak.
  • Industrial (cultivation and/or processing), retail (dispensing) and combined industrial/retail represent 92%, 2% and 6% of the operating portfolio, respectively.
  • Innovative Industrial Properties, Inc. will conduct a conference call and webcast at 10:00 a.m. Pacific Time (1:00 p.m. Eastern Time) on Tuesday, February 27, 2024 to discuss IIP’s financial results and operations for the fourth quarter and year ended December 31, 2023.

AM Best Assigns Credit Ratings to Marco Re Limited

Retrieved on: 
Monday, February 26, 2024

AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to Marco Re Limited (Marco Re) (Guernsey), which is a wholly-owned subsidiary of Marco Capital Holdings Limited (Marco) (Malta), the non-operating holding company of the Marco group.

Key Points: 
  • AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to Marco Re Limited (Marco Re) (Guernsey), which is a wholly-owned subsidiary of Marco Capital Holdings Limited (Marco) (Malta), the non-operating holding company of the Marco group.
  • The ratings factor in Marco Re’s strategic importance to the Marco group.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings .
  • For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments .

AM Best to Sponsor and Participate in the CICA 2024 International Conference

Retrieved on: 
Monday, February 26, 2024

AM Best will sponsor and participate in the annual CICA International Conference, which will take place March 10-12, 2024, in Scottsdale, AZ.

Key Points: 
  • AM Best will sponsor and participate in the annual CICA International Conference, which will take place March 10-12, 2024, in Scottsdale, AZ.
  • CICA is a domicile-neutral captive insurance association that promotes best practices and fosters collaboration within the captive insurance industry.
  • AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry.
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