{LONGTERMINVESTORS} Moody's Credit Outlook

 

News & Analysis

Corporates

»  McKesson's Rexall Acquisition Will Raise Leverage

»  Cott's Equity Offering Is Credit Positive

»  AMC's Credit-Positive Acquisition of Carmike Creates World's Largest Theatre Chain

»  GameStop's Store Acquisitions Are Credit Positive Despite Raising Debt

»  Ceridian HCM's Joint Venture with WorkAngel Is Credit Negative

»  NMLK Will Benefit from US Import Duties on Steel

»  Polsat's Acquisition of Midas Will Enhance Its Spectrum and Operating Cost Control, a Credit Positive

»  Evergrande's Shengjing Bank Investment Is Credit Negative

Infrastructure

»  NRG's Dividend Reduction Is Credit Positive

»  Republic Airways' Bankruptcy Is Credit Negative for Airports It Serves

»  Australian Utilities' Successful Appeal of Regulator's Rate Determination Is Credit Positive

Banks

»  Russians' Declining Income Is Credit Negative for Banks Concentrated in Consumer Loans

»  Kazakhstan Banks' Deposit Dollarization Hits Record High, a Credit Negative

»  Mauritius' Proposal to Introduce Deposit Insurance Is Credit Positive for Banks

»  Malaysian Banks' Improved Capitalization Is Credit Positive amid Rising Regional Credit Risks

»  Philippines' New Liquidity Requirement Is Credit Positive for Banks

Exchanges

»  Pursuit of LSEG Raises Event Risk at US Exchanges

Funds

»  Icahn Enterprises' Fourth-Quarter Losses Reduce Liquidity and Raise Leverage

Sovereigns

»  Turkey's Trade Data Reveals Export Weakness, a Credit Negative

»  Namibia's Budget Introduces Spending Cuts Amid Falling Revenues, a Credit Positive

»  Japan's Budget Underscores Credit-Positive Fiscal Goals but Realization Will Be Challenging

Securitization

»  AT&T's Wireless Internet Video Launch Is Credit Positive for Tower Firms and Their Securitizations

Rating Changes

Last week, we downgraded Intelsat, Oi, Woolworths, BankMuscat, Oman Arab Bank, National Bank of Oman, Bank Dhofar, HSBC Bank Oman, Monticello Insurance, Walter Investment Management, North West Redwater and Terra-Gen Finance. We upgraded Armor Holdco and Central Nottinghamshire Hospitals. Additionally, we upgraded two classes and downgraded three classes in J.P. Morgan Chase Commercial Mortgage Securities Corporation, Series 2006-CIBC17.

Research Highlights

Last week, we published reports on FAGE International, Asian steel producers, US Foods, US medical products and devices, Canadian broadband, US oil and gas industry liquidity, Macy's, US steel, US for-profit hospitals, North American unregulated power and project finance, Credit Suisse, UBS, Air Castle, Fly Leasing, BNDES, Caixa, Banco do Brasil, Polish banks, Malaysian banks, India, US RMBS, US CMBS, US marketplace lending ABS, US REITs, Spanish consumer ABS, Australian covered bonds, Australian auto ABS and RMBS, Volkswagen European ABS, Japanese SME CLOs, European RMBS and ABS, and Russian mortgage laws, among other publications.

  

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