OPEB

KBRA Assigns AAA Rating to Austin Independent School District's Unlimited Tax School Building Bonds, Series 2024 (PSF); Affirms Ratings for Outstanding Debt; Outlook is Stable

Retrieved on: 
Thursday, March 21, 2024
Professional Services, Finance, AISD, FY, Trustee, Sale, Acquisition, KBRA, PSF, AAA, Student, OPEB, AV, Series, State

KBRA assigns a AAA long-term rating with a Stable Outlook to Austin Independent School District’s ("AISD" or "the District") Unlimited Tax School Building Bonds, Series 2024 (PSF), and concurrently affirms the AAA rating and Stable Outlook for the District’s KBRA-rated Unlimited Tax School Bonds (PSF) and Unlimited Tax School Bonds (Non-PSF) outstanding.

Key Points: 
  • KBRA assigns a AAA long-term rating with a Stable Outlook to Austin Independent School District’s ("AISD" or "the District") Unlimited Tax School Building Bonds, Series 2024 (PSF), and concurrently affirms the AAA rating and Stable Outlook for the District’s KBRA-rated Unlimited Tax School Bonds (PSF) and Unlimited Tax School Bonds (Non-PSF) outstanding.
  • KBRA understands that proceeds from the sale of the Series 2024 bonds will be used for the construction and acquisition of school buildings, upgrading technology systems, and for stadium improvements.
  • The rating actions reflect the following key credit considerations:
    Strong financial management policies and an experienced, effective management team.
  • While not expected a trend of decline in the ad valorem tax base may negatively impact the rating.

KRONOS WORLDWIDE, INC. REPORTS FOURTH QUARTER 2023 RESULTS

Retrieved on: 
Wednesday, March 6, 2024
KRO, OPEB, Gross domestic product, Safety, GAAP, Titanium dioxide, Environmental health, Workforce, Software, Insurance, Depreciation, Risk management

Net sales of $400.1 million in the fourth quarter of 2023 were $57.7 million, or 17%, higher than in the fourth quarter of 2022.

Key Points: 
  • Net sales of $400.1 million in the fourth quarter of 2023 were $57.7 million, or 17%, higher than in the fourth quarter of 2022.
  • TiO2 sales volumes were 29% higher in the fourth quarter of 2023 as compared to the fourth quarter of 2022 and 13% lower in the full year of 2023 as compared to the full year of 2022.
  • Average TiO2 selling prices were 11% lower in the fourth quarter of 2023 as compared to the fourth quarter of 2022 and 4% lower in the full year of 2023 as compared to the full year of 2022.
  • TiO2 production volumes were 15% higher in the fourth quarter of 2023 compared to the fourth quarter of 2022 but 19% lower in the full year of 2023 compared to the full year of 2022.

Molson Coors Beverage Company Reports 2023 Fourth Quarter and Full Year Results

Retrieved on: 
Tuesday, February 13, 2024
Retail, Restaurant, Bar, Food, Beverage, Wine & Spirits, Carling Brewery, Coors Brewing Company, Republic of Ireland, Biophysical environment, Growth, Social, OPEB, ESG, CAD, Drink, Coors Light, Webcast, Beer, Molson Coors, Environment, Molson Brewery, Madri

Dollars, and all comparative results are for the Company’s fourth quarter or full year ended December 31, 2023, compared to the fourth quarter or full year ended December 31, 2022.

Key Points: 
  • Dollars, and all comparative results are for the Company’s fourth quarter or full year ended December 31, 2023, compared to the fourth quarter or full year ended December 31, 2022.
  • Molson Coors Beverage Company will conduct an earnings conference call with financial analysts and investors at 11:00 a.m. Eastern Time today to discuss the Company’s 2023 fourth quarter and full year results.
  • For more than two centuries, Molson Coors Beverage Company has been brewing beverages that unite people to celebrate all life’s moments.
  • To learn more about Molson Coors Beverage Company, visit molsoncoors.com , MolsonCoorsOurImprint.com or on X (formerly Twitter) through @MolsonCoors .

Verizon finishes 2023 with strong cash flow and wireless customer growth

Retrieved on: 
Tuesday, January 23, 2024
Verizon Business, LTM, Business, Consumer, Public expenditure, C band, RSS, EPS, Rationalization, ARPA, OPEB, Capital expenditure, Wireless, Capital, Fios, Post, VZ, Growth, Video game

Full-year 2023 cash flow from operations of $37.5 billion, an increase from $37.1 billion in 2022.

Key Points: 
  • Full-year 2023 cash flow from operations of $37.5 billion, an increase from $37.1 billion in 2022.
  • In fourth-quarter 2023, more than 80 percent of Consumer fixed wireless gross additions were in Verizon's first 76 C-Band markets.
  • NEW YORK, Jan. 23, 2024 (GLOBE NEWSWIRE) -- Verizon Communications Inc. (NYSE, Nasdaq: VZ) reported strong fourth-quarter and full-year 2023 results highlighted by total wireless postpaid net additions, fixed wireless net additions and increased wireless service revenue.
  • Consumer wireless retail postpaid churn was 1.08 percent in fourth-quarter 2023, and wireless retail postpaid phone churn was 0.88 percent.

Cleveland-Cliffs Reports Full-Year and Fourth-Quarter 2023 Results

Retrieved on: 
Monday, January 29, 2024
General Automotive, Automotive Manufacturing, Manufacturing, Automotive, Other Construction & Property, Commercial Building & Real Estate, Machinery, Construction & Property, Machine Tools, Metalworking & Metallurgy, Other Natural Resources, Mining, Minerals, Natural Resources, Other Manufacturing, Steel, ABL, Public expenditure, HRC, GAAP, OPEB, Cleveland-Cliffs, Nonunion, UAW

Cleveland-Cliffs Inc. (NYSE: CLF) today reported full-year and fourth-quarter results for the period ended December 31, 2023.

Key Points: 
  • Cleveland-Cliffs Inc. (NYSE: CLF) today reported full-year and fourth-quarter results for the period ended December 31, 2023.
  • For the full year 2023, Adjusted EBITDA1 was $1.9 billion, compared to $3.2 billion in 2022.
  • The reduction was primarily driven by lower steel index pricing in 2023 compared to 2022, partially offset by higher sales volumes and lower operating costs.
  • During 2023, the Company reduced its net debt3 by $1.3 billion, using the majority of its free cash flow for this purpose.

KBRA Assigns K1+ Rating to Cobb County School District, GA's Short-Term Construction Notes, Series 2024; Affirms K1+ Rating for Series 2023 Construction Notes and AAA Rating for Implied GO Credit

Retrieved on: 
Monday, December 4, 2023
Education, Professional Services, Primary, Secondary, Finance, ADC, Note, AAA, OPEB, KBRA, Cobb County School District, Accounting, Employment, Bank, Life insurance

KBRA assigns a short-term rating of K1+ to Cobb County School District, Georgia's Short-Term Construction Notes, Series 2024, due December 15, 2024.

Key Points: 
  • KBRA assigns a short-term rating of K1+ to Cobb County School District, Georgia's Short-Term Construction Notes, Series 2024, due December 15, 2024.
  • Proceeds will finance, on a temporary basis, the current costs of constructing, improving and equipping various school facilities approved by voters at referendum, and paying expenses related thereto.
  • Additionally, KBRA affirms the short-term rating of K1+ on the District's Short-Term Construction Notes, Series 2023 due December 15, 2023, and the long-term rating of AAA with a Stable Outlook for the District's Implied General Obligation Credit.
  • Consistently sound historic coverage of note debt service reflects a conservative approach to budgeting and cash flow management.

KBRA Assigns A Rating to NJTTFA Transportation Program Bonds, 2023 Series BB; Affirms A+ Rating for New Jersey GO; Outlook is Stable

Retrieved on: 
Monday, November 6, 2023
Banking, Professional Services, Finance, KBRA, Surety, Maintenance, OPEB, 1844 New Jersey Constitution, Bank, Life insurance

KBRA assigns a long-term rating of A with a Stable Outlook to the New Jersey Transportation Trust Fund Authority (NJTTFA) Transportation Program Bonds, 2023 Series BB.

Key Points: 
  • KBRA assigns a long-term rating of A with a Stable Outlook to the New Jersey Transportation Trust Fund Authority (NJTTFA) Transportation Program Bonds, 2023 Series BB.
  • KBRA additionally affirms the long-term rating of A+ with a Stable Outlook for the State of New Jersey's General Obligation Bonds.
  • Lastly, KBRA affirms the long-term rating of A with a Stable Outlook for the following bonds:
    The rating actions reflect the following key credit considerations:
    ■ State economic base is large and diverse.
  • ■ Governor has broad executive powers under the New Jersey Constitution to adjust the budget and reduce spending to maintain budget balance.

Kronos Worldwide, Inc. Reports Third Quarter 2023 Results

Retrieved on: 
Thursday, November 2, 2023
Insurance, NYSE, KRO, EBITDA, Gross domestic product, GAAP, Maintenance, Titanium dioxide, COVID-19, Plant, Depreciation, OPEB, Bookkeeping, Risk management, Renewable energy, Commercial property

Net sales of $396.9 million in the third quarter of 2023 were $62.7 million, or 14%, lower than in the third quarter of 2022.

Key Points: 
  • Net sales of $396.9 million in the third quarter of 2023 were $62.7 million, or 14%, lower than in the third quarter of 2022.
  • TiO2 sales volumes were 6% lower in the third quarter of 2023 as compared to the third quarter of 2022 and 22% lower in the first nine months of 2023 as compared to the first nine months of 2022.
  • Average TiO2 selling prices at the end of the third quarter of 2023 were 9% lower than at the end of 2022.
  • TiO2 production volumes were 22% lower in the third quarter of 2023 compared to the third quarter of 2022 and 26% lower in the first nine months of 2023 compared to the same period of 2022.

Molson Coors Beverage Company Reports 2023 Third Quarter Results

Retrieved on: 
Thursday, November 2, 2023
Retail, Food, Beverage, Wine & Spirits, Coors Light, COGS, ESG, Beer, MG, GAAP, Wind, Biophysical environment, Molson Coors, Social, Molson Brewery, Bank statement, Environment, Blue moon, Coors Brewing Company, Webcast, Miller Brewing Company, Republic of Ireland, Drink, OPEB, Reinsurance, Cryptocurrency

Dollars, and all quarterly comparative results are for the Company’s third quarter ended September 30, 2023 compared to the third quarter ended September 30, 2022.

Key Points: 
  • Dollars, and all quarterly comparative results are for the Company’s third quarter ended September 30, 2023 compared to the third quarter ended September 30, 2022.
  • Molson Coors Beverage Company will conduct an earnings conference call with financial analysts and investors at 11:00 a.m. Eastern Time today to discuss the Company’s 2023 third quarter results.
  • For more than two centuries Molson Coors Beverage Company has been brewing beverages that unite people to celebrate all life’s moments.
  • To learn more about Molson Coors Beverage Company, visit molsoncoors.com , MolsonCoorsOurImprint.com or on X (formerly Twitter) through @MolsonCoors .

GovInvest Announces Strategic Partnership with Connecticut Conference of Municipalities

Retrieved on: 
Wednesday, November 1, 2023
Knowledge, Arm, Face, Workforce, Conference, Post, Learning, Partnership, CCM, Eastern Connecticut Conference, Pension, OPEB, Management, Risk management

LOS ANGELES, Nov. 1, 2023 /PRNewswire/ -- GovInvest, the provider of accurate analysis and enhanced transparency for public sector agencies, today announced a strategic partnership with the Connecticut Conference of Municipalities (CCM). This collaboration will reduce the complexity of workforce analytics and inform confident decision-making to benefit CCM's statewide membership.

Key Points: 
  • LOS ANGELES, Nov. 1, 2023 /PRNewswire/ -- GovInvest , the provider of accurate analysis and enhanced transparency for public sector agencies, today announced a strategic partnership with the Connecticut Conference of Municipalities (CCM).
  • They are turning to GovInvest for modern compensation tools, as business as usual on legacy systems is no longer adequate.
  • "When you see how closely our missions align, it makes perfect sense that we would partner to help CCM members," said GovInvest CEO Michael Fryke.
  • "CCM wants to arm Connecticut municipalities with powerful, visual software coupled with the industry's best-in-class consultants to ensure successful deployments.