MANILA: The Asian Development Bank (ADB) projected growth in Asia Pacific to moderate to 4.9% in 2025 and 4.7% in 2026, citing rising trade barriers and a slowdown in China’s property sector. The forecasts, finalized before new U.S. tariffs were announced on April 2, highlight the region’s resilience despite global headwinds. In its Asian Development…
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Fitch downgrades 2025 outlook for U.S. retail and consumer sectors to deteriorating
Fitch Ratings has revised its 2025 forecast for the U.S. retail and consumer products sectors, changing its outlook from Neutral to Deteriorating. This adjustment reflects concerns over the recently announced tariffs, which are expected to impact consumer spending as sentiment weakens and retail costs rise. The report indicates that most Fitch-rated companies in these sectors…
Cyber Threats Loom at the Threshold of U.S. Affordable Housing Providers
In the digital age, our lives are intertwined with technology more than ever before. This is no different for the realm of affordable housing in the United States, where managing homes and helping families is becoming increasingly digitized. However, with this shift comes a new set of challenges—cyber risks that could threaten the security and…
How Are Alternative Investment Funds Using Net Asset Value Loans?
Current volume of NAV facilities, estimated at approximately $150 billion, could double in the next two years. The landscape of alternative investment funds (AIFs) is evolving rapidly, with new strategies and financial instruments emerging to meet the diverse needs of investors. One such instrument that has gained prominence is the net asset value (NAV) facility,…
Moody’s upgrades rating of Helios Towers
LONDON: Helios Towers plc, the independent telecommunications infrastructure company, announced Moody’s Investors Service has upgraded the Company’s long-term corporate family rating from B2 to B1 with a stable outlook. The rating on Helios Towers’ 7.000% Senior Notes due 2025 was also upgraded as part of the rating action to B1. The positive rating action reflects…
AM Best maintains ratings for Suez Canal Insurance amidst economic challenges in Egypt
LONDON: AM Best has reaffirmed the Financial Strength Rating of B- (Fair) and the Long-Term Issuer Credit Rating of “bb-” (Fair) for Suez Canal Insurance (SCI), with an Egypt National Scale Rating (NSR) of aa.EG (Superior). Despite the negative outlook due to the volatile economic and political climate in Egypt, SCI’s strong balance sheet and…
Fitch Ratings affirms Victoria Plc’s credit rating
LONDON, UK: Victoria PLC (LSE: VCP), the international designers, manufacturers and distributors of innovative flooring, advised that international credit rating agency Fitch Ratings yesterday affirmed the Company’s credit rating following a recent review that stated: “Fitch Ratings has affirmed Victoria PLC’s Long-Term Issuer Default Rating (IDR) at ‘BB-‘ with a Stable Outlook. Fitch has also…
S&P cuts ratings of five regional US banks amid tough lending environment
The credit ratings of five regional US banks have been lowered by S&P Global Ratings, as the agency warned of the challenges facing the sector in the wake of the Silicon Valley Bank collapse earlier this year. S&P downgraded KeyCorp, Comerica Inc., Valley National Bancorp, UMB Financial Corp. and Associated Banc-Corp by one notch each on Monday,…
Fitch Ratings, Moody’s Investors Service, and S&P Global Upgrade Emaar Properties PJSC’s Credit Ratings
UNITED ARAB EMIRATES, DUBAI: Emaar Properties PJSC, Dubai’s premier realestate developer, received credit rating upgrades from Fitch Ratings, Moody’s, and S&P Global, reflecting its strong financial performance and improved leverage ratios. Fitch Ratings has upgraded Emaar Properties Long-Term Issuer Default Rating to ‘BBB’ from ‘BBB-, with a Stable Outlook. Moody’s has similarly upgraded Emaar Properties…
GFH Ratings Affirmed by Fitch at ‘B’; Outlook Stable
Manama: GFH Financial Group (“GFH” or “the Group”) today announced that Fitch Ratings has affirmed its Long- and Short-Term Issuer Default Ratings (IDR) at ‘B’. The Outlook on the Long-Term IDR is Stable. Fitch has also affirmed the senior unsecured long-term rating of the US$500 million sukuk due 2025 issued through GFH Sukuk Company Limited…
Gulf International Bank receives ratings upgrades from Fitch to ‘A-‘/Stable
MANAMA, BAHRAIN: Gulf International Bank (GIB) announced that Fitch Ratings has upgraded its Long-Term (LT) Issuer Default Ratings (IDR) to ‘A-‘/Stable from ‘BBB+’/Positive for Gulf International Bank BSC, Gulf International Bank – Saudi Arabia and Gulf International Bank (UK) Ltd. These rating actions follow a rating upgrade from Fitch on Saudi Arabia Sovereign Rating on…
Moody’s has downgraded the outlook on Israel
Moody’s downgrades Israel’s outlook from “positive” to “stable” following recent protests against proposed changes in the judicial system. The overall A1 rating remains in place, but the downgrade could result in Israel having to pay higher rates to potential borrowers, as well as limiting outside investment from the U.S. and Europe, which is crucial for…