Moody's Investors Service

Moody's affirmed Ba3 rating and stable outlook for SeABank

Retrieved on: 
Friday, September 15, 2023
Moody's Investors Service, Strategic Cooperation Agreement, SSB, TCE, Orient Commercial Joint Stock Bank, Payment Guaranteed, Seabank Power Station, Tangible common equity, BCA, Customer, Supply chain finance, Issuer, Supply, B1, Postcodes in the United Kingdom, FMCG, SCF, Security (finance), Bank

Moody's has affirmed SeABank's rating at Ba3 and stable outlook.

Key Points: 
  • Moody's has affirmed SeABank's rating at Ba3 and stable outlook.
  • The affirmation of SeABank's ratings with a stable outlook reflects Moody's expectation that the bank's strong and improving capitalization.
  • According to Moody's, SeABank continues to receive a Ba3 credit rating for both Issuer and Foreign Currency Deposit ratings.
  • Moody's affirmation of SeABank's rating with a stable outlook reflects the organization's expectations of the bank's strong and improving capital.

Moody's affirmed Ba3 rating and stable outlook for SeABank

Retrieved on: 
Friday, September 15, 2023
Moody's Investors Service, Strategic Cooperation Agreement, SSB, TCE, Multimedia, Orient Commercial Joint Stock Bank, Payment Guaranteed, Seabank Power Station, Tangible common equity, BCA, Customer, Supply chain finance, Issuer, Supply, B1, Postcodes in the United Kingdom, FMCG, SCF, Security (finance), Bank

Moody's has affirmed SeABank's rating at Ba3 and stable outlook.

Key Points: 
  • Moody's has affirmed SeABank's rating at Ba3 and stable outlook.
  • The affirmation of SeABank's ratings with a stable outlook reflects Moody's expectation that the bank's strong and improving capitalization.
  • According to Moody's, SeABank continues to receive a Ba3 credit rating for both Issuer and Foreign Currency Deposit ratings.
  • Moody's affirmation of SeABank's rating with a stable outlook reflects the organization's expectations of the bank's strong and improving capital.

Carlos Hernandez Elected to MarketAxess Board of Directors

Retrieved on: 
Thursday, September 14, 2023
Professional Services, Finance, MarketAxess, JPMorgan Chase, Executive, Moody's Investors Service, National War Finance Committee, Public sector banks in India, Acquisition, Investment, Corporation, Committee on Finance, Security (finance)

MarketAxess Holdings Inc. (Nasdaq: MKTX), the operator of a leading electronic trading platform for fixed-income securities, today announced the election of Carlos Hernandez to its Board of Directors, effective September 13, 2023.

Key Points: 
  • MarketAxess Holdings Inc. (Nasdaq: MKTX), the operator of a leading electronic trading platform for fixed-income securities, today announced the election of Carlos Hernandez to its Board of Directors, effective September 13, 2023.
  • The appointment marks a return of Mr. Hernandez to the MarketAxess Board, having served as a Director from 2006 to 2019.
  • “We are delighted to welcome Carlos back to the MarketAxess Board.
  • I'm excited to rejoin Rick, Chris Concannon, and the rest of the MarketAxess Board in continuing to advance and strengthen the efficiency, transparency, and liquidity of global bond markets," said Carlos Hernandez.

Hong Kong: Gateway to GBA business opportunities

Retrieved on: 
Tuesday, September 5, 2023
Crédit Agricole Corporate and Investment Bank, Belt and Road Initiative, Hong Kong Monetary Authority, ASEAN, Health, GBA, Theme, HKSAR, Innovation, Hong Kong Trade Development Council, Moody's Investors Service, International trade, Associate, I&T, Partner, HKTDC, Investment, Hong Kong Science and Technology Parks Corporation, Economic development, Investment banking, Sino Group, Commerce, Clothing, Film industry, EU, Mainland, J. P. Morgan

HKTDC will take its mega promotion campaign, Think Business, Think Hong Kong, to Paris on 19 September.

Key Points: 
  • HKTDC will take its mega promotion campaign, Think Business, Think Hong Kong, to Paris on 19 September.
  • The Hong Kong Trade Development Council (HKTDC) will take its mega promotion campaign, Think Business, Think Hong Kong, to Paris on 19 September.
  • Prominent business leaders will share their successes and insights on how French and European companies can capture the vast opportunities in the GBA by leveraging the Hong Kong platform.
  • One-on-one business consultations, on-site business matching with French companies as well as the Hong Kong Dinner provide many opportunities for the business communities of France and Hong Kong to connect.

EQS-News: Amprion GmbH: Amprion again successful with green bond in volume of €1.2 billion

Retrieved on: 
Wednesday, August 30, 2023
Luxembourg Stock Exchange, Bayerische Landesbank, Moody's Investors Service, UniCredit, Commerzbank, ING, DZ, Fitch, Landesbank, Sustainalytics, Euro, Investment, LBBW, SEB, BANK, CFO, ESG, DZ BANK AG, Security (finance), Renewable energy, Marketing, Amprion

The transmission system operator Amprion has once again successfully placed a green bond with a total nominal volume of €1.2 billion on the international capital market.

Key Points: 
  • The transmission system operator Amprion has once again successfully placed a green bond with a total nominal volume of €1.2 billion on the international capital market.
  • The green dual-tranche bond was issued within Amprion's €9 billion debt issuance programme.
  • The second tranche with a volume of €700 million has a maturity of 11 years and an interest coupon of 4.125% p. a.
    Peter Rüth, CFO of Amprion: “We have once again successfully placed a dual-tranche green bond.
  • Moody's has assigned a Baa1 rating to the newly issued dual-tranche green bond.

Phoenix Holdings Ltd. Publishes Financial Results for Q2 2023, With Continued Improvement in Income From Core Activities

Retrieved on: 
Thursday, August 24, 2023
Professional Services, Health, Insurance, Health Insurance, Finance, Personal Finance, Holding, Travel, Epsilon, Tel Aviv Stock Exchange, Moody's Investors Service, CASCO, Long-term care, P&C, Solvency, Incidence, Report, Corporation, TASE, Gama, NIS, The Phoenix Companies, Analyst, Total, Bank, Management, Retail, Real estate, Audit, Cryptocurrency, Health insurance, Psagot, Phoenix

Phoenix Holdings Ltd., a leading Israel-based financial, insurance, and investment group (TASE:PHOE) (“Phoenix,” the “Group,” or the “Company”), today reported its results for the second quarter of 2023.

Key Points: 
  • Phoenix Holdings Ltd., a leading Israel-based financial, insurance, and investment group (TASE:PHOE) (“Phoenix,” the “Group,” or the “Company”), today reported its results for the second quarter of 2023.
  • Total comprehensive income in the second quarter of the year amounted to NIS 217 million, compared to NIS 184 million last year, reflecting 9% return on equity.
  • Core income from activities in the second quarter of 2023 amounted to NIS 357 million, which reflects a 15% core (normalized) return on equity.
  • Phoenix reports an improvement in the loss ratio in the CASCO subsegment, despite the higher incidence of vehicle theft.

Installed Building Products Successfully Repriced Term Loan B Facility

Retrieved on: 
Monday, August 14, 2023
Building Systems, Other Construction & Property, Residential Building & Real Estate, Commercial Building & Real Estate, Construction & Property, Builders hardware, Tranche, SOFR, Moody's Investors Service, Securities and Exchange Commission of Pakistan, RBC Capital Markets, IBP, Form, Security (finance), NYSE, S&P Global Ratings

Installed Building Products, Inc. (the “Company” or “IBP”) (NYSE: IBP), an industry-leading installer of insulation and complementary building products, today announced that the Company has successfully completed the repricing of the Company's approximately $492.5 million of existing term loans (the “Tranche B-1 Term Loans”).

Key Points: 
  • Installed Building Products, Inc. (the “Company” or “IBP”) (NYSE: IBP), an industry-leading installer of insulation and complementary building products, today announced that the Company has successfully completed the repricing of the Company's approximately $492.5 million of existing term loans (the “Tranche B-1 Term Loans”).
  • The Tranche B-1 Term Loans mature in December 2028, have no financial maintenance covenants, and are rated BB+ by S&P Global Ratings and Ba2 by Moody's Investors Service.
  • The pricing of the Tranche B-1 Term Loans bear interest at the adjusted term secured overnight financing rate (“SOFR Rate”) plus 2.00% per annum, or an alternative base rate plus 1.00%.
  • "The repriced SOFR Rate and alternative base rate are 0.25% below our prior rate, reflecting IBP's current financial standing and a change in loan market conditions since the close of the Term Loan Credit Agreement in December 2021.

Crescent Energy Reports Second Quarter 2023 Financial and Operating Results

Retrieved on: 
Wednesday, August 9, 2023
Oil, Gas, Energy, S&P, CT, Moody's Investors Service, Eagle Ford, Dallas, Policy, Line of credit, Tax, G&A, KKR, LTM, Credit Accumulation and Transfer Scheme, Acquisition, Eagle Ford Group, Net income, Boe, Credit, Crescent, BB, Cryptocurrency, Airline, Bank, Security (finance), Uinta, Adjustment

Crescent reported $57 million of net income and $25 million of Adjusted Net Income(1)in the second quarter.

Key Points: 
  • Crescent reported $57 million of net income and $25 million of Adjusted Net Income(1)in the second quarter.
  • Second quarter operating expense and adjusted operating expense excluding production and other taxes(1), stated on a per Boe basis, were $17.85 and $14.84, respectively.
  • Crescent plans to host a conference call to discuss its second quarter 2023 financial and operating results at 10 a.m. CT on Thursday, August 10, 2023.
  • Crescent has provided an investor presentation on its second quarter 2023 results on its website, www.crescentenergyco.com .

Akamai Technologies Granted Investment-Grade Ratings by Credit Rating Agencies

Retrieved on: 
Tuesday, August 8, 2023
Akamai Technologies, S&P, Moody's Investors Service, CDN, Moody, AKAM

CAMBRIDGE, Mass., Aug. 8, 2023 /PRNewswire/ -- Akamai Technologies , Inc. (NASDAQ: AKAM), the cloud company that powers and protects life online, announced today it has received investment-grade ratings by two leading credit rating agencies.

Key Points: 
  • CAMBRIDGE, Mass., Aug. 8, 2023 /PRNewswire/ -- Akamai Technologies , Inc. (NASDAQ: AKAM), the cloud company that powers and protects life online, announced today it has received investment-grade ratings by two leading credit rating agencies.
  • Moody's Investors Service ("Moody's") rated Akamai Baa2 with a stable outlook and S&P Global Ratings ("S&P") assigned the company a BBB+ rating with a stable outlook.
  • The report also cites the company's highly recurring revenue base, consistent top-line growth and strong profitability through product investments and acquisitions.
  • "These investment-grade credit ratings serve as testament to the strength of our business, balance sheet, profitability and cash flow generation," said Ed McGowan, executive vice president and chief financial officer, Akamai Technologies.

Turkiye Launches Met-Up, a Groundbreaking AR Application for Digitalized Training Materials

Retrieved on: 
Tuesday, August 8, 2023
Moody's Investors Service, Vocational education, Great Resignation, Research, Vehicle registration plates of Nepal, Student, Entrepreneurship, State, Moral and National Education controversy, XR, Environment, Commerce, Vocation, Nursing, Typesetting, 3D printing, Video game

The Augmented Reality (AR) integrated MET-UP application, developed by the Turkish Ministry of National Education, is set to revolutionize vocational and technical education through its digitalized training materials

Key Points: 
  • Moody's projections indicate that the decreasing share of the working-age US population may result in persistent labor shortages.
  • The application, which simulates the assembly and disassembly of 3D models with lifelike animations in AR mode, eradicates the boundaries between physical and virtual realms in vocational education.
  • Ali Kılıçlıoğlu also shared MET-UP's ambitions of becoming a diplomatic tool for Turkiye, stating: "Our application will enable educators, trainers, and users worldwide to create interactive and immersive AR and XR vocational training lessons.
  • The application underscores Turkiye's dedication to nurturing skilled and well-equipped individuals for the future technical workforce.