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,…
All posts tagged S&P Global Ratings
S&P Global Ratings Reaffirms Halyk Bank’s rating; outlook stable
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…
S&P Global Ratings upgrades PJSC Polyus with stable outlook
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…
S&P Global Ratings revises Bank Norwegian outlook from “Negative” to “Stable”
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…
S&P Global Ratings upgrades its ratings for ContourGlobal PLC
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…
S&P lowered long term credit ratings of South Africa
LONDON: S&P Global Ratings lowered its long-term foreign-currency sovereign credit rating on the Republic of South Africa to ‘BB-‘ from ‘BB’ and affirmed the ‘B’ short-term foreign-currency sovereign rating, with a stable outlook. At the same time, the long-term local currency sovereign credit rating for South Africa was lowered to ‘BB’ from ‘BB+’ and the…
S&P downgrades APC Automotive Technologies to ‘CC’ on exchange offering; outlook negative
NEW YORK: S&P Global Ratings has lowered the issuer credit rating to ‘CC’ from ‘CCC’ on APC Automotive Technologies Intermediate Holdings LLC (APC), and the issue-level rating on the first-lien term loan due 2024 to ‘CC’ from ‘CCC’ to reflect its view that this transaction, if completed, results in investors receiving less than the original…
S&P revises Nokia’s outlook to negative on weak cash flow prospects
FRANKFURT: S&P Global Ratings revised telecom network equipment vendor Nokia outlook to negative on weaker cash flow prospects, and affirmed the rating at ‘BB+’. “Nokia needs to step up investments in its 5G products during a critical stage when market demand is ramping up,” S&P noted. The negative outlook reflects the possibility of a one-notch…
S&P upgrades Australia’s Banking Industry and ANZ’s ratings
SYDNEY: S&P Global Ratings (S&P) announced it has increased the stand-alone credit profiles (SACP) of ANZ and the other major Australian banks by one notch to ‘a’ from ‘a-’. S&P stated that this reflects “the reduced economic risks we see in the Australian banking system due to an orderly correction in national house prices and…