Redetermination

Maximus Reports Fiscal Year 2023 Third Quarter Results

Retrieved on: 
Wednesday, August 2, 2023
Defense, Other Defense, Military, Consulting, Professional Services, Technology, Veterans, Other Technology, Redetermination, IR, PACT Act, VES, Honoring our PACT Act of 2022, MMS, DSO, PACT, Caswell, MDE, EBITDA, Webcast, Growth, NYSE, Legislation, Cryptocurrency, Pet industry, Risk management, Retail, Holding company, Pharmaceutical industry, Security (finance), Broadcasting, Medicaid, Maximus

Highlights for the third quarter of fiscal year 2023 include:

Key Points: 
  • Highlights for the third quarter of fiscal year 2023 include:
    Revenue increased 5.6% to $1.19 billion, compared to $1.13 billion for the prior year period.
  • Revenue for the third quarter of fiscal year 2023 increased 5.6% to $1.19 billion, compared to $1.13 billion for the prior year period.
  • For the third quarter of fiscal year 2023, operating margin was 4.9% and the adjusted operating margin was 6.9%.
  • The segment operating margin for the third quarter of fiscal year 2023 was 12.7%, compared to 10.4% reported for the prior year, and results this quarter slightly beat expectations.

AM Best Affirms Credit Ratings of CVS Health Corporation’s Aetna Inc. Subsidiaries

Retrieved on: 
Wednesday, March 29, 2023
Insurance, Professional Services, Aetna, ERM, Public, Coventry Health Care, Medicare, Baptist Health South Florida, Allina Health, MinuteClinic, Relaxation, News, NYSE, AM Best, Life, CVS, Federal Home Loan Banks, Growth, Credit, ROE, Aetna Health Inc. v. Davila, University of North Texas Health Science Center, Cell, ALL, Parent, COVID-19, Health, CVS Health, Bermuda, BA, Goodwill, Redetermination, ROR, FSR, AM, Oak Street Health, Long-term care insurance, Health insurance, Financial services, Nursing, Medicaid

AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a” (Excellent) of Aetna Life Insurance Company (ALIC) (Hartford, CT) and the other members of Aetna Health & Life Group, which are operating entities of Aetna Inc. (Aetna) and wholly owned subsidiaries of CVS Health Corporation (CVS Health) [NYSE: CVS].

Key Points: 
  • AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a” (Excellent) of Aetna Life Insurance Company (ALIC) (Hartford, CT) and the other members of Aetna Health & Life Group, which are operating entities of Aetna Inc. (Aetna) and wholly owned subsidiaries of CVS Health Corporation (CVS Health) [NYSE: CVS].
  • Concurrently, AM Best has affirmed the FSR of A (Excellent) and the Long-Term ICRs of “a” (Excellent) of Texas Health + Aetna Health Insurance Company, as well as Texas Health + Aetna Health Plan Inc.
  • Texas Health Aetna and Allina Health and Aetna Insurance Company are joint ventures with subsidiaries of Aetna Inc.
  • The ratings of Aetna Health & Life Group reflect the ultimate parent, CVS Health, and an expectation of elevated leverage due to the recently announced acquisitions.

Maximus Reports Fiscal Year 2023 First Quarter Results

Retrieved on: 
Wednesday, February 8, 2023
Finance, Consulting, Professional Services, Other Technology, Technology, MMS, Government, DSO, NYSE, EBITDA, Webcast, Caswell, Omnibus spending bill, Consolidated Appropriations Act, 2021, Growth, IR, Redetermination, COVID, Environment, Cryptocurrency, Security (finance), Music, Holding company, Pharmaceutical industry, Video game, Mobile phone, Broadcasting, Medicaid, Maximus

Highlights for the first quarter of fiscal year 2023 include:

Key Points: 
  • Highlights for the first quarter of fiscal year 2023 include:
    Revenue increased 8.5% to $1.25 billion, compared to $1.15 billion for the prior year period.
  • The company is raising revenue and earnings guidance for fiscal year 2023 following the restart of Medicaid redeterminations scheduled to begin in the third quarter.
  • "We are pleased with our solid first quarter results which reflect good execution, and we expect continued momentum in fiscal 2023," said Bruce Caswell, President and Chief Executive Officer.
  • For the first quarter of fiscal year 2023, operating margin was 6.0% and the adjusted operating margin was 7.9%.

InPlay Oil Corp. Announces Extension of Credit Facility

Retrieved on: 
Tuesday, June 15, 2021
Redetermination, Calgary, Alberta

CALGARY, Alberta, June 14, 2021 (GLOBE NEWSWIRE) -- InPlay Oil Corp. (TSX: IPO) (OTCQX: IPOOF) (InPlay or the Company) announces that the maturity date applicable to and redetermination of the borrowing base under the Companys Senior Credit Facility has been extended from June 14, 2021 to June 30, 2021.

Key Points: 
  • CALGARY, Alberta, June 14, 2021 (GLOBE NEWSWIRE) -- InPlay Oil Corp. (TSX: IPO) (OTCQX: IPOOF) (InPlay or the Company) announces that the maturity date applicable to and redetermination of the borrowing base under the Companys Senior Credit Facility has been extended from June 14, 2021 to June 30, 2021.
  • A further extension of the annual renewal and redetermination has been agreed upon in order to provide additional time for InPlay and the banking syndicate to finalize negotiation of terms.
  • For further information please feel free to contact:

InPlay Oil Corp. Announces Extension of Credit Facility

Retrieved on: 
Tuesday, June 1, 2021
Redetermination, Calgary

CALGARY, Alberta, May 31, 2021 (GLOBE NEWSWIRE) -- InPlay Oil Corp. (TSX: IPO) (OTCQX: IPOOF) (InPlay or the Company) announces that the maturity date applicable to and redetermination of the borrowing base under the Companys Senior Credit Facility has been extended from May 31, 2021 to June 14, 2021.

Key Points: 
  • CALGARY, Alberta, May 31, 2021 (GLOBE NEWSWIRE) -- InPlay Oil Corp. (TSX: IPO) (OTCQX: IPOOF) (InPlay or the Company) announces that the maturity date applicable to and redetermination of the borrowing base under the Companys Senior Credit Facility has been extended from May 31, 2021 to June 14, 2021.
  • InPlay and its banking syndicate are in the process of negotiating the annual renewal and redetermination and have agreed to the extension in order to provide additional time to finalize terms.
  • For further information please feel free to contact:

Amplify Energy Announces Successful Borrowing Base Reaffirmation

Retrieved on: 
Wednesday, November 18, 2020
Petroleum in the United States, Amplify Energy, Energy in California, Amplify, Redetermination, Borrowing base, Amplification, States of the United States, Companies

HOUSTON, Nov. 18, 2020 (GLOBE NEWSWIRE) -- Amplify Energy Corp. (NYSE: AMPY) (Amplify or the Company) announced today that it has completed the regularly scheduled semi-annual redetermination of its revolving credit facility (RCF) borrowing base and entered into an amendment to its credit agreement.

Key Points: 
  • HOUSTON, Nov. 18, 2020 (GLOBE NEWSWIRE) -- Amplify Energy Corp. (NYSE: AMPY) (Amplify or the Company) announced today that it has completed the regularly scheduled semi-annual redetermination of its revolving credit facility (RCF) borrowing base and entered into an amendment to its credit agreement.
  • The redetermination reaffirmed the borrowing base at $260 million.
  • The next regularly scheduled borrowing base redetermination is expected to occur in April 2021.
  • Amplify Energy Corp. is an independent oil and natural gas company engaged in the acquisition, development, exploration and production of oil and natural gas properties.

Ring Energy, Inc., Announces Completion of Spring 2020 Redetermination of Its Senior Credit Facility

Retrieved on: 
Wednesday, June 17, 2020
Energy, Professional services, Oil, Gas, Finance, Retailing, Retailers, Redetermination, Recreational Equipment, Inc., Trade

Ring Energy, Inc. (NYSEAM: REI) (Ring) (Company) announced today it completed the scheduled spring 2020 redetermination evaluation of its $1 billion senior credit facility.

Key Points: 
  • Ring Energy, Inc. (NYSEAM: REI) (Ring) (Company) announced today it completed the scheduled spring 2020 redetermination evaluation of its $1 billion senior credit facility.
  • The Company has entered into a new amendment to the senior credit facility as part of the scheduled spring redetermination.
  • The next redetermination evaluation is scheduled for November 2020.
  • Management stated on the last Company conference call (5/12/20) that the outstanding balance on the senior credit facility was $388 million.

Amplify Energy Announces Results of Borrowing Base Redetermination and Provides Liquidity Update

Retrieved on: 
Monday, June 15, 2020
Economy, Finance, Money, Corporate finance, Borrowing base, Debt, Redetermination, Revolving credit, Amplify, Short

HOUSTON, June 15, 2020 (GLOBE NEWSWIRE) -- Amplify Energy Corp. (NYSE: AMPY) (Amplify or the Company) announced today that it has completed the regularly scheduled redetermination of its revolving credit facility borrowing base and entered into an amendment to its credit agreement.

Key Points: 
  • HOUSTON, June 15, 2020 (GLOBE NEWSWIRE) -- Amplify Energy Corp. (NYSE: AMPY) (Amplify or the Company) announced today that it has completed the regularly scheduled redetermination of its revolving credit facility borrowing base and entered into an amendment to its credit agreement.
  • The redetermination resulted in a revised borrowing base of $285 million effective immediately with scheduled monthly reductions of $5 million until the borrowing base reaches $260 million on November 1, 2020.
  • The next regularly scheduled borrowing base redetermination is expected to occur in November 2020.
  • Amplifys Spring borrowing base redetermination process was challenging as bank price decks reflected the historic severe downturn in commodity prices, which have since experienced meaningful recoveries, said Martyn Willsher, interim Chief Executive Officer and Chief Financial Officer of Amplify.

InPlay Oil Corp. Announces Extension of Annual Borrowing Base Redetermination

Retrieved on: 
Friday, May 29, 2020
Debt, Finance, Money, Borrowing base, Corporate finance, OTC Markets Group, Redetermination, Credit

CALGARY, Alberta, May 29, 2020 (GLOBE NEWSWIRE) -- InPlay Oil Corp. (TSX: IPO) (OTCQX: IPOOF) (InPlay or the Company) announces an extension of its annual borrowing base redetermination.

Key Points: 
  • CALGARY, Alberta, May 29, 2020 (GLOBE NEWSWIRE) -- InPlay Oil Corp. (TSX: IPO) (OTCQX: IPOOF) (InPlay or the Company) announces an extension of its annual borrowing base redetermination.
  • InPlay and its banking syndicate have agreed to extend the date for completion of the annual borrowing base redetermination from May 31, 2020 to June 30, 2020.
  • The Company agreed to an amendment with the extension whereby the aggregate principal amount under the credit facility not exceed $65 million without lenders consent.
  • As of todays date, InPlay is drawn approximately $56.0 million on its $75 million credit facility.

Ultra Petroleum Corp. Announces Spring Borrowing Base Redetermination and Amendment to Credit Agreement, Fourth Quarter 2019 Production Results, and Confirms 2020 Production and Capital Guidance

Retrieved on: 
Tuesday, February 18, 2020
Borrowing base, Corporate finance, Debt, Redetermination, Ultra Music Festival

ENGLEWOOD, Colo., Feb. 18, 2020 (GLOBE NEWSWIRE) -- Ultra Petroleum Corp. ("Ultra or the Company) (OTCQX: UPLC) announces its borrowing base redetermination, fourth quarter 2019 production, and guidance for production and capital in 2020.

Key Points: 
  • ENGLEWOOD, Colo., Feb. 18, 2020 (GLOBE NEWSWIRE) -- Ultra Petroleum Corp. ("Ultra or the Company) (OTCQX: UPLC) announces its borrowing base redetermination, fourth quarter 2019 production, and guidance for production and capital in 2020.
  • Sixth Amendment to Credit Facility and April 1, 2020 Borrowing Base Determination
    On February 14, 2020, Ultra Resources, Inc. a wholly owned subsidiary of Ultra entered into the Sixth Amendment to Credit Agreement (the Sixth Amendment).
  • Pursuant to the Sixth Amendment and the spring borrowing base redetermination, which will take effect April 1, 2020, the Borrowing Base (as defined in the Credit Agreement) will be reduced to $1.075billion, with $100 million commitment attributed to the Credit Agreement.
  • In the fourth quarter of 2019 the Company produced 55.4 Bcfe, an average rate for the quarter of 602 MMcfe per day.