Financial news, corporate announcements, analysts’ reports
PARIS, FRANCE: ARGAN, the only French listed real estate company specialised in the development and the rental of premium warehouses, announces it has been assigned an Investment Grade «BBB-» long-term issuer credit rating with a stable outlook by S&P Global Ratings. ARGAN wished to initiate a financial rating process in a context of diversification and…
LONDON, UK: S&P Global announced its decision to revise the outlook for Kaspi Bank, a core component of Kaspi.kz’s Fintech Platform, to Positive citing strong asset quality, solid operating performance and shift towards BNPL and merchant financing. According to S&P Global: · “Operating performance remained strong in 2020 and first-quarter 2021. Return on average equity…
LONDON, UK: S&P Global Ratings has affirmed its ‘BB/B’ long- and short-term issuer credit ratings and its ‘kzA+’ Kazakhstan scale rating on Halyk Savings Bank of Kazakhstan. The outlook is stable. S&P Global Ratings has noted that the Bank has reduced its stock of problem assets substantially over the past several years, and believes that…
LONDON: PJSC Polyus notes that S&P Global Ratings (“S&P”) has upgraded the Company’s long-term issuer credit and issue ratings to ‘BB+’ with a stable outlook from ‘BB’/positive. In assigning Polyus a ‘BB+’ Rating, S&P highlighted the Company’s conservative financial and dividend policy, which Polyus has been strictly following over the previous years. The upgrade also…
OSLO: S&P Global Ratings has published an update on the rating of Bank Norwegian. S&P Global Ratings revises the outlook from “Negative” to “Stable”, while affirming the long-term rating of “BBB” and a short-term rating of “A-2”. S&P Global Ratings highlights that “Bank Norwegian’s earnings performance in the first nine months of 2020 demonstrate resilience…
LONDON: Petropavlovsk PLC announced that S&P Global Ratings (S&PGR) has upgraded its long-term issuer credit and issue ratings on Petropavlovsk and its senior unsecured bonds to ‘B’ from ‘B-‘ with a stable outlook. In its announcement, S&PGR highlighted its decision to upgrade Petropavlovsk’s issuer rating was based on its expectations the Company “will continue to…
LONDON: S&P Global Ratings (S&P) has upgraded the ContourGlobal PLC (CG) issuer credit rating to ‘BB’ from ‘BB-‘, its subsidiary ContourGlobal Power Holdings (CGPH) to ‘BB’ from ‘BB-‘, and the CGPH senior secured debt to ‘BB+’ from ‘BB’. The Rating Outlook is Stable. According to S&P, the upgrade to ‘BB’ from ‘BB-‘ reflects CG’s stable…
SINGAPORE: China Jinjiang Environment Holding Company Limited, a leading Waste-to-Energy operator in China, announced that S&P Global Ratings has upgraded the Company’s outlook from negative to positive. This comes on the back of the successful acquisition on 21 August 2019 of 29.79% of Jinjiang Environment’s shares by a wholly-owned subsidiary of Zhejiang Provincial Energy Group…
LONDON: S&P Global Ratings has today affirmed the credit rating for Landsbankinn at BBB/A-2 with continued stable outlook. The announcement states that S&P has lowered the industry risk in its assessment based on an eased banking sector risk, resilience of profitability during global pandemic and expectations of continued strong return on equity. Furthermore, S&P assumes…
SYDNEY, AUSTRALIA: Challenger Limited (ASX: CGF) announced S&P Global Ratings (S&P) has recently completed its annual ratings review and affirmed the credit rating and outlook for both Challenger Life Company Limited and Challenger Limited. Challenger’s S&P ratings are as follows: • Challenger Life Company Limited – ‘A’ rating with a stable outlook; and • Challenger…
LONDON, UK: The international credit rating agency S&P Global Ratings (S&P) has positively revised the credit rating outlook of Akropolis Group, the leading shopping and entertainment centre development and management company in the Baltic countries. S&P announced on 26 October that it had revised the BB+ outlook on the issuer’s long-term credit rating to stable,…
LONDON, UK: Victoria PLC, the international designers, manufacturers and distributors of innovative flooring, is pleased to announce that, S&P have formally improved their view of the outlook for Victoria’s 2026 and 2028 Senior Notes based on the strong trading performance of the Group, its effective mitigation of raw material price inflation, and the Group’s track…