LONDON, UK: Standards & Poor’s has put Heathrow Funding Limited’s Class A and B debt on CreditWatch with negative implications, pending the CAA’s final decision on H7 this summer. Based on the regulator’s statutory duty, S&P’s assessment relies on the CAA taking a balanced approach such that Heathrow Funding can recover and sustain credit metrics…
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S&P revises the outlook of Akropolis Group’s credit rating BB+ to stable
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,…
S&P improves Metalloinvest outlook to positive from stable
MOSCOW, RUSSIA: Metalloinvest Finance Designated Activity Company (IRSH), a leading global iron ore and HBI producer and supplier, announced that Standard & Poor’s Ratings Services (S&P) has improved the company’s outlook to positive from stable, affirming a ‘BB+’ long-term corporate credit rating. According to a statement published by S&P, Metalloinvest’s outlook revision to positive reflects…
S&P revises Oman Insurance’s outlook to positive on improved operating performance
DUBAI: Oman Insurance Company is assigned a positive outlook by S&P Global Ratings, based on improved operating performance while affirming an A- rating, a news release said. The rating agency also reaffirmed the capital adequacy of Oman Insurance above the AAA level based on their risk-based capital model. According to S&P, the positive outlook indicates…
S&P revises SkyCity’s outlook to stable
AUCKLAND: SkyCity Entertainment Group Limited notified the S&P Global Ratings has revised the outlook for SkyCity’s long-term issuer credit rating and its debt issue ratings from ‘Negative’ to ‘Stable’. S&P Global Ratings has affirmed SkyCity’s long-term issuer credit rating and its debt issue ratings as BBB-. Rating Action Overview – SKYCITY Entertainment Group Ltd.’s earnings…
UAE market remains optimistic on an economic recovery in 2021
DUBAI: The global reopening theme bode well for hard hit UAE indices as Dubai Financial Markets (DFM) index finished January up 9.4% while its Abu Dhabi peer rallied 12.2% over the same period. “We remain optimistic on an economic recovery in 2021, especially as the country continues to handle the pandemic crisis with vigilance,” Al…
Fitch revises Sabra’s outlook to stable; Fitch and S&P affirm Sabra’s credit ratings
IRVINE: Sabra Health Care REIT Inc. (Nasdaq: SBRA) announced today that Fitch Ratings has revised its rating outlook for Sabra to Stable from Negative and that both Fitch and S&P Global Ratings affirmed the ratings for Sabra’s debt as ‘BBB-‘. Fitch notes in its report that its affirmation of Sabra’s ratings and revision to Stable…
S&P reaffirms Qatar Islamic Bank’s rating at ‘A-/A-2’ with stable outlook
DOHA, QATAR: S&P Global Ratings (S&P) has reaffirmed Qatar Islamic Bank’s (QIB) Issuer Credit Rating at ‘A-/A-2’ with Stable Outlook. S&P said that its ratings on QIB reflect the global rating agency’s view of QIB’s robust corporate banking franchise, the bank’s favorable position as Qatar’s largest Islamic bank, and QIB’s relatively conservative management. S&P added:…
S&P reaffirms Meridian Energy’s BBB+ corporate credit rating
PERTH: Ratings agency Standard & Poor’s has reaffirmed Meridian Energy’s corporate credit rating as BBB+/Stable/A-2. This includes the current one-notch uplift from the Company’s stand-alone rating of ‘bbb’, reflecting the majority ownership of the New Zealand Government.
S&P revises outlook on U.K.-based HSBC Holdings to negative
LONDON: S&P Global Ratings revised its outlook on U.K.-based bank holding company HSBC Holdings PLC to negative. At the same time, S&P affirmed ‘A’ long-term and ‘A-1’ short-term issuer credit ratings on HSBC Holdings. “We also revised our outlook on certain core subsidiaries of the HSBC group to negative and affirmed our ‘AA-‘ long-term and…
S&P affirms ‘BB+’ ratings on Home Appliances Group Arcelik with negative outlook
PARIS: S&P Global Ratings has affirmed ‘BB+’ ratings on Home Appliances Group Arcelik A.S and on the company’s senior unsecured debt, based on the view that the company can withstand a sovereign stress scenario. The negative outlook reflects the view that weak consumer demand in Turkey and foreign currency exchange volatility might pressure credit metrics…
S&P affirms credit ratings of Taiwan Semiconductor Manufacturing
HONG KONG: S&P Global Ratings has affirmed its ‘AA-‘ issuer credit ratings on Taiwan Semiconductor Manufacturing Co. Ltd. (TSMC). S&P also revised liquidity assessment on the company to strong from exceptional. TSMC’s plan to accelerate investments in advanced 7 nanometer (nm) and 5nm process technology should help it maintain its technology leadership, support faster growth…