S&P Global Ratings

Moody’s Upgrades Phillips Edison & Company’s Rating Outlook to ‘Positive’ from ‘Stable’

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星期一, 三月 11, 2024

CINCINNATI, March 11, 2024 (GLOBE NEWSWIRE) -- Phillips Edison & Company, Inc. (Nasdaq: PECO) (“PECO”), one of the nation’s largest owners and operators of grocery-anchored neighborhood shopping centers, today announced that Moody's Ratings ("Moody's") revised its rating outlook for PECO to ‘Positive’ from ‘Stable’ and affirmed the Company’s ratings, including the ‘Baa3’ Issuer Credit Rating.

Key Points: 
  • CINCINNATI, March 11, 2024 (GLOBE NEWSWIRE) -- Phillips Edison & Company, Inc. (Nasdaq: PECO) (“PECO”), one of the nation’s largest owners and operators of grocery-anchored neighborhood shopping centers, today announced that Moody's Ratings ("Moody's") revised its rating outlook for PECO to ‘Positive’ from ‘Stable’ and affirmed the Company’s ratings, including the ‘Baa3’ Issuer Credit Rating.
  • In its public announcement, Moody’s stated: “PECO’s ratings reflect its high-quality portfolio of open-air neighborhood and community shopping centers, the resilient operating cash flows generated by its grocery-anchored centers, moderate leverage metrics, sound fixed charge coverage and good liquidity.”
    In addition, Moody’s stated: “Moody’s expects PECO to continue reporting good operating performance over the next few quarters despite the slowing macroeconomic environment because of its portfolio mix.
  • The high proportion of grocery-anchored shopping centers, 97.2% of PECO’s rental revenue in 2023, and the large share of the top grocers in its tenant mix have resulted in consistently high portfolio lease rates and strong tenant retention.”
    As previously announced, S&P Global Ratings revised in January 2024 its rating outlook for PECO to ‘Positive’ from ‘Stable’ and affirmed the Company’s ratings, including the ‘BBB-’ Issuer Credit Rating.

Interstellar Communication Holdings Welcome New Board Member

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星期一, 二月 26, 2024

C. Dan Killian, Jr. is President of Harvard Investors Group. Harvard Investors Group is a family office investment firm. It is also a consultancy focused on assisting public and private companies--both domestic and foreign--to access Wall Street resources more effectively. Services include introductions to investment banking firms, rating agencies, accounting and legal professionals, transfer agencies, independent valuation expert, as well as to financial research and investor relations firms. The firm has contacts at the NYSE, Nasdaq, and OTC Markets. Killian and his colleagues are active in the National Investment Banking Association and other financial organizations. Killian is a licensed attorney and can be helpful in interpreting the complex regulations related to securities offerings and corporate disclosure requirements. Harvard Investors is best known for the "road show" meetings it hosts in New York, Philadelphia, Boston, Charlotte and other cities.

Key Points: 
  • Miami, FL, Feb. 26, 2024 (GLOBE NEWSWIRE) -- Interstellar Communication Holdings Inc., (the “Company” or “Interstellar Communication”), a holding company that connects and consolidates space-related companies, is pleased to introduce Dan Killian as its newest addition to the Board of Directors.
  • “We are excited to welcome Dan to the Interstellar Communication Board of Directors.
  • We are confident that his strategic acumen will propel Interstellar Communication to even greater levels of success,” said Lijie Zhu, Managing Director of Dragon Gate Investment Partners and Chair of Interstellar Communication Holdings.
  • "I am honored to join the esteemed Board of Directors at Interstellar Communication Holdings,” said Dan Killian.

MassMutual Reports Strong 2023 Financial Results Fueled by Company Records

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星期一, 三月 4, 2024

MassMutual today reported strong financial results1 for 2023.

Key Points: 
  • MassMutual today reported strong financial results1 for 2023.
  • 1 These are consolidated statutory results of Massachusetts Mutual Life Insurance Company and its U.S.-domiciled life insurance subsidiaries: C.M.
  • Life Insurance Company, MML Bay State Life Insurance Company and MassMutual Ascend Life Insurance Company.
  • Life Insurance Company and MML Bay State Life Insurance Company, are as follows: A.M. Best Company, A++ (Superior); Fitch Ratings, AA+ (Very Strong); Moody's Investors Service, Aa3 (High Quality); and S&P Global Ratings, AA+ (Very Strong).

S&P Affirms Security Benefit Financial Strength “A-“ Rating; Outlook now “Stable”

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星期四, 二月 29, 2024

Security Benefit Life Insurance Company (Security Benefit) today announced that major rating agency Standard & Poor’s Global Ratings has affirmed its financial strength rating of “A-“ and revised its outlook to “stable.” S&P maintained its view of the firm’s capital and earnings as “very strong” and again commented favorably on its investment performance while also referencing the management actions executed over the previous two years to further strengthen its balance sheet.

Key Points: 
  • Security Benefit Life Insurance Company (Security Benefit) today announced that major rating agency Standard & Poor’s Global Ratings has affirmed its financial strength rating of “A-“ and revised its outlook to “stable.” S&P maintained its view of the firm’s capital and earnings as “very strong” and again commented favorably on its investment performance while also referencing the management actions executed over the previous two years to further strengthen its balance sheet.
  • Doug Wolff, CEO of Security Benefit, said "We are pleased that S&P has affirmed our “A-“ rating and believe the change in outlook to “stable” is especially notable.
  • “We’re looking forward to sharing our full year 2023 financial results with investors on March 21st.”
    Standard & Poor's is one of the four key credit agencies utilized by Security Benefit to provide an independent assessment of the company's financial strength.
  • A.M. Best and Fitch also maintain “A-“ financial strength ratings for the company, while DBRS Morningstar maintains an “A” financial strength rating for the firm.

Octane Completes $300 Million Asset-Backed Securitization to Drive Continued Growth

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星期二, 三月 5, 2024

NEW YORK, March 5, 2024 /PRNewswire/ -- Octane® (Octane Lending, Inc.®), the fintech revolutionizing the buying experience for major recreational purchases, announced that it has closed a $300 million securitization ("OCTL 2024-1") collateralized by its fixed-rate installment powersports loans issued through its in-house lender, Roadrunner Financial®, Inc.

Key Points: 
  • Octane saw a high level of demand for its notes.
  • Additionally, Octane expanded its investor base by attracting new investors through this issuance, while maintaining the support of existing institutional investors.
  • Last month, Octane announced the sale of $280M in whole loans to Yieldstreet , a leading private market investing platform.
  • Octane surpassed $4B in aggregate originations last week, and in January, the company announced a strategic agreement with Kawasaki Motors Corp ., U.S.A.

Citycon Group successfully places a EUR 300 million Green Bond with an orderbook approximately seven times over-subscribed

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星期三, 二月 28, 2024

HELSINKI, Feb. 28, 2024 /PRNewswire/ -- Citycon Group has successfully placed a EUR 300 million green bond (the "Bond"). The issuer of the Bond is Citycon Treasury B.V. and the guarantor is Citycon Oyj. The 5-year senior unsecured fixed rate EUR-denominated Bond matures on 6 March 2029 and pays a fixed coupon of 6.500%.The Bond is issued under the issuer's EUR 2,500,000,000 EMTN programme dated 10 November 2023, and supplemented on 26 February 2024. Citycon Treasury B.V. will apply for the Bond to be admitted to the Official List of the Irish Stock Exchange (Euronext Dublin) and to trade on its regulated market. The Bond will be rated by Standard & Poor's in line with the corporate rating of Citycon.The net proceeds from the Bond will be used to refinance existing debt and for such general corporate purposes of the Group that meet Citycon's green financing framework requirements, which enables Citycon to integrate sustainability objectives in its financing activities. Citycon expects to apply a portion of the net proceeds of the issue to purchasing certain euro-denominated bonds issued by the Citycon Group which are validly tendered and accepted for purchase in accordance with the tender offer launched by Citycon on 27 February 2024.Citycon's green financing framework reflects practices that support the transition to a sustainable and low carbon economy through the development of green assets. Proceeds allocated in accordance with the framework will be used to finance or re-finance eligible green assets in categories green buildings, energy efficiency, renewable energy or waste management."We are pleased with the success of this placement. The demand for the bond was extremely strong with an orderbook approximately seven times over-subscribed. This once again highlights the quality of our credit and our access to the capital market. As a result of this successful issuance, our debt maturity profile is significantly improved and refinancing risk is further reduced as we aim to use the net proceeds to partially pay back the bond maturing in 2024 and pay down other short-term debt", says Sakari Järvelä, Chief Financial Officer of Citycon.Danske Bank and Deutsche Bank acted as Global Coordinators, and Nordea Bank, OP Corporate Bank, SEB and Swedbank acted as Active Bookrunners.

Key Points: 
  • Citycon is committed to sustainable property management in the Nordic region with assets that total approximately EUR 4.0 billion.
  • Citycon has investment-grade credit rating from Standard & Poor's (BBB-).
  • Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.
  • Neither Citycon Oyj nor Citycon Treasury B.V. has registered, or intends to register, securities in any of these jurisdictions or to conduct an offer of securities for sale in any of these jurisdictions.

NextEra Energy Capital Holdings announces offering of its Series Q junior subordinated debentures

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星期二, 二月 27, 2024

JUNO BEACH, Fla. , Feb. 27, 2024 /PRNewswire/ -- NextEra Energy Capital Holdings, Inc., a subsidiary of NextEra Energy, Inc. (NYSE: NEE), today announced an offering of its Series Q junior subordinated debentures due Sept. 1, 2054, (the "junior subordinated debentures") in an underwritten public offering.

Key Points: 
  • JUNO BEACH, Fla. , Feb. 27, 2024 /PRNewswire/ -- NextEra Energy Capital Holdings, Inc., a subsidiary of NextEra Energy, Inc. (NYSE: NEE), today announced an offering of its Series Q junior subordinated debentures due Sept. 1, 2054, (the "junior subordinated debentures") in an underwritten public offering.
  • NextEra Energy Capital Holdings, at its option, may redeem some or all of the junior subordinated debentures at the times and prices described in the prospectus supplement.
  • The junior subordinated debentures will be guaranteed by NextEra Energy Capital Holdings' parent company, NextEra Energy.
  • NextEra Energy expects the credit rating agencies (S&P Global Ratings, Moody's Investors Service and Fitch Ratings) to ascribe 50% equity credit to the junior subordinated debentures in the calculation of its credit metrics.

Citycon Group intends to issue a euro-denominated green bond

Retrieved on: 
星期二, 二月 27, 2024

HELSINKI, Feb. 27, 2024 /PRNewswire/ -- Citycon Group intends to issue a euro-denominated senior unsecured bond approximately with a maturity of 5 years in an amount of around EUR 300 million. The bond would be offered to institutional investors and would be issued by Citycon Treasury B.V. and guaranteed by Citycon Oyj. Citycon Treasury B.V. would apply for the bond to be admitted to the Official List of the Irish Stock Exchange (Euronext Dublin) and to trading on its regulated market. The bond would be issued under the issuer's EUR 2,500,000,000 EMTN programme dated 10 November 2023, and supplemented on 26 February 2024.

Key Points: 
  • Citycon is committed to sustainable property management in the Nordic region with assets that total approximately EUR 4.0 billion.
  • Citycon has investment-grade credit rating from Standard & Poor's (BBB-).
  • Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.
  • Neither Citycon Oyj nor Citycon Treasury B.V. has registered, or intends to register, securities in any of these jurisdictions or to conduct an offer of securities for sale in any of these jurisdictions.

Tooth Fairy giving drops for first time in 5 years, according to Delta Dental poll

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星期四, 二月 22, 2024

New Delta Dental findings from its 2024 Original Tooth Fairy Poll® revealed the average value of a single lost tooth during the past year declined by 6% from $6.23 to $5.84.

Key Points: 
  • New Delta Dental findings from its 2024 Original Tooth Fairy Poll® revealed the average value of a single lost tooth during the past year declined by 6% from $6.23 to $5.84.
  • This represents the first year-over-year decline in Tooth Fairy giving in five years.
  • "Delta Dental has tracked U.S. Tooth Fairy giving trends for 26 years as a timely way to spotlight the importance of children's oral health," said Gabriella Ferroni, Senior Director, Strategic Communications, Delta Dental Plans Association.
  • Despite the more economical reward, Tooth Fairy giving is a fun conversation starter to encourage good oral hygiene habits at an early age."

Retail Opportunity Investments Corp. Reports 2023 Results

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星期三, 二月 14, 2024

SAN DIEGO, Feb. 14, 2024 (GLOBE NEWSWIRE) -- Retail Opportunity Investments Corp. (NASDAQ:ROIC) announced today financial and operating results for the year and three months ended December 31, 2023.

Key Points: 
  • SAN DIEGO, Feb. 14, 2024 (GLOBE NEWSWIRE) -- Retail Opportunity Investments Corp. (NASDAQ:ROIC) announced today financial and operating results for the year and three months ended December 31, 2023.
  • Stuart A. Tanz, President and Chief Executive Officer of Retail Opportunity Investments Corp. stated, “Capitalizing on the strong fundamentals and demand for space across our portfolio, during 2023 we achieved a number of new leasing records and milestones for the company.
  • In addition to enhancing ROIC’s portfolio through our leasing initiatives, we also worked to enhance our financial strength and profile.
  • For the fourth quarter of 2023, same-center NOI increased 3.3% as compared to same-center NOI for the fourth quarter of 2022.