Commercial

KBRA Releases Research – Private Credit: 12% Is Here–First Look at Interest Coverage and Liquidity for Middle Market Borrowers by Sector

Retrieved on: 
Thursday, February 22, 2024

KBRA releases an update to its research regarding the 2024 outlook for private credit middle market borrowers, with a special focus on two variables that are worthy of focused attention: interest coverage and liquidity.

Key Points: 
  • KBRA releases an update to its research regarding the 2024 outlook for private credit middle market borrowers, with a special focus on two variables that are worthy of focused attention: interest coverage and liquidity.
  • At that time, KBRA’s assumptions of fed funds rates at 5.5% and total average interest costs at 12% seemed conservative.
  • Latest financials show that most borrowers and sponsors were tightening belts, bolstering both interest coverage and liquidity heading into 2023’s interest hikes.
  • Interestingly, the stress test reveals significant differences in interest coverage and liquidity across the three largest sectors, with business and professional services companies tending to have the strongest interest coverage metrics.

CLARA Analytics Secures Funding From Nationwide

Retrieved on: 
Wednesday, February 21, 2024

CLARA Analytics and Nationwide are deepening their current partnership.

Key Points: 
  • CLARA Analytics and Nationwide are deepening their current partnership.
  • CLARA has received an investment from Nationwide Ventures , the investment arm of the insurance and financial services company.
  • “The Nationwide investment is a huge vote of confidence from a leading voice in the industry,” said Heather H. Wilson , CEO of CLARA Analytics.
  • “ Since partnering together in 2022 , Nationwide has seen the very substantial benefits that this technology can offer,” said George Williams, Chief Operating Officer of Commercial, E&S and Specialty at Nationwide.

Poland Construction Market Forecast Report: Average Annual Growth Rate of 3.4% is Predicted During 2025-2027, Under the Kolej Plus Program, the Government Plans to Spend PLN6.6 billion by 2028 - ResearchAndMarkets.com

Retrieved on: 
Wednesday, February 21, 2024

The construction industry in Poland was forecast to grow by 1.3% in real terms in 2023, owing to government efforts to increase investment in transport and energy infrastructure projects.

Key Points: 
  • The construction industry in Poland was forecast to grow by 1.3% in real terms in 2023, owing to government efforts to increase investment in transport and energy infrastructure projects.
  • In June 2023, the country received PLN4.4 billion ($906.8 million) in funding from the European Union's Connecting Europe Facility (CEF) to implement transport infrastructure projects.
  • Under the Kolej Plus program, the government plans to spend PLN6.6 billion ($1.7 billion) by 2028 to develop railway infrastructure in cities that currently do not have access to railway transport.
  • It provides -
    Historical (2018-2022) and forecast (2023-2027) valuations of the construction industry in Poland, featuring details of key growth drivers.

As Middle Market Companies in the U.S. Go Digital, Increased Pressure on Banks to Keep Up

Retrieved on: 
Wednesday, February 21, 2024

Middle market companies are going digital, and the transition is shaking up the U.S. commercial banking business.

Key Points: 
  • Middle market companies are going digital, and the transition is shaking up the U.S. commercial banking business.
  • Across the U.S. commercial banking industry, companies’ perceptions of their banks’ digital offerings have been on the decline since 2020, even as banks continue investing heavily into their digital platforms.
  • Adapting to the needs of this growing population of “digitally native” businesses will be crucial for commercial banks to stay relevant and competitive in the evolving market environment.
  • “Satisfying the demands of these companies requires considerable effort and investment on the part of banks,” says Chris McDonnell , Head of Community, Commercial and Digital Banking Analytics at Coalition Greenwich.

Brenock Technology and Shoretime Announce Integration and Deal with Norwegian Cruise Line Holdings to Enhance Excursion Management

Retrieved on: 
Tuesday, February 20, 2024

Brenock Technology, LLC (Brenock), a leading provider of software applications and consulting services for marine, cruise and hospitality sectors, in collaboration with Shoretime LLC , a Software as a Service (SaaS) provider of Shoretime, an end-to-end shore excursion management solution for the cruise industry, today announced their official partnership and first contract with Norwegian Cruise Line Holdings (NCLH) .

Key Points: 
  • Brenock Technology, LLC (Brenock), a leading provider of software applications and consulting services for marine, cruise and hospitality sectors, in collaboration with Shoretime LLC , a Software as a Service (SaaS) provider of Shoretime, an end-to-end shore excursion management solution for the cruise industry, today announced their official partnership and first contract with Norwegian Cruise Line Holdings (NCLH) .
  • The platform will enhance excursion development and management for NCLH and its global tour operators.
  • "We are proud to launch Shoretime, a ground-breaking excursion management tool that reflects our dedication to leading through innovation and superior quality.
  • This platform transforms the tour management process, optimizing interactions with tour operators, content management, and revenue efficiency, all through state-of-the-art technology with a user-first approach.

Bret Rathwick and Michael Anthony Join Commercial and Industrial Team at Western Alliance Bank

Retrieved on: 
Tuesday, February 20, 2024

Western Alliance Bank today announced the appointment of Bret Rathwick and Michael Anthony to the organization’s Commercial and Industrial team.

Key Points: 
  • Western Alliance Bank today announced the appointment of Bret Rathwick and Michael Anthony to the organization’s Commercial and Industrial team.
  • View the full release here: https://www.businesswire.com/news/home/20240220072844/en/
    “Bret and Michael’s addition to the commercial banking team at Western Alliance Bank strengthens our capacity to serve the thriving commercial market in California,” said Julian Parra, head of commercial and industrial banking for California at Western Alliance Bank.
  • Prior to joining the Western Alliance Bank team, he served as an Area Manager at Wells Fargo, overseeing a team of commercial loan officers in Orange County.
  • Anthony brings nearly a decade of experience to the Western Alliance team.

U.S. Small Businesses Increasingly Upbeat About the Economy—and Their Banks

Retrieved on: 
Tuesday, February 20, 2024

Increased optimism among small businesses about the U.S. economy is carrying over to their banking relationships.

Key Points: 
  • Increased optimism among small businesses about the U.S. economy is carrying over to their banking relationships.
  • The Greenwich Business Community is a forum for over 28,000 U.S. small businesses and midsize companies to voice their feedback and rate their banks across multiple criteria, such as overall satisfaction, customer service, operational accuracy, etc.
  • When asked to evaluate their banking relationships, small businesses reported improving interactions and service levels with their banks.
  • Driving that increase was a sharp jump in small businesses’ overall satisfaction ratings for national banks.

Global Dry-Cleaning and Laundry Services Strategic Report 2024: North America Retains Commanding Position, Asia-Pacific Represents a High Growth Regional Market - ResearchAndMarkets.com

Retrieved on: 
Tuesday, February 20, 2024

Laundry Captures a Major Share of the Market, Duvet Cleaning Expected to Exhibit Significant Growth

Key Points: 
  • Laundry Captures a Major Share of the Market, Duvet Cleaning Expected to Exhibit Significant Growth
    Residential Laundry Services to Account for a Major Share, Commercial to Witness Faster Growth
    North America Retains Commanding Position, Asia-Pacific Represents a High Growth Regional Market
    Cautious Recovery of the Travel, Hospitality/Hotel Industry in 2022 & Beyond Bodes Well for Market Growth
    Spurred On by Rising Healthcare Burden, Hospitals Emerge into the Fastest Growing End-Use Sector

Bona Announces Acquisition of Australian Distributor, Ezi Floor Products (EFP)

Retrieved on: 
Monday, February 19, 2024

Bona ®, a global, sustainably-driven company that supplies products for installing, renovating, maintaining, and restoring premium floors, has announced the acquisition of Ezi Floor Products (VIC) Pty Ltd (EFP), a distributor based in Melbourne, Australia.

Key Points: 
  • Bona ®, a global, sustainably-driven company that supplies products for installing, renovating, maintaining, and restoring premium floors, has announced the acquisition of Ezi Floor Products (VIC) Pty Ltd (EFP), a distributor based in Melbourne, Australia.
  • EFP, which has been the exclusive importer and national distributor of Bona products in Australia for over 20 years, will now be a Bona subsidiary.
  • “EFP has long been a trusted timber floor products supplier in Australia with decades of experience in supporting contractors and homeowners,” said Magnus Andersson, CEO, Bona.
  • “As an exclusive distributor of Bona products for more than two decades and a family company, we look forward to being part of the Bona family and joining the Bona Global Network.