Portafogli e Strategie (investimento) Investment Grade, entro le frontiere conosciute. (4 lettori)

waltermasoni

Caribbean Trader
Fitch Rates Philippines' Proposed EUR Bond 'BBB (EXP)'
24 APR 2019 05:44 AM ET




Fitch Ratings-Hong Kong-24 April 2019: Fitch Ratings has assigned the Philippines' forthcoming Euro-denominated bonds an expected rating of 'BBB (EXP)'.

KEY RATING DRIVERS
The expected rating is in line with the Philippines' Long-Term Foreign-Currency Issuer Default Rating (IDR) of 'BBB' with a Stable Outlook.

RATING SENSITIVITIES
The rating would be sensitive to any changes in the Philippines' Long-Term Foreign-Currency IDR.

Fitch affirmed the Philippines' Long-Term Foreign- and Local-Currency IDRs at 'BBB' with a Stable Outlook in December 2018.
 

waltermasoni

Caribbean Trader
Fitch Affirms Starbucks' IDR at 'BBB+'/'F2'; Outlook Stable
29 APR 2019 05:46 PM ET




Fitch Ratings-New York-29 April 2019: Fitch Ratings has affirmed the Long-Term Issuer Default Rating (IDR) of Starbucks Corporation (NASDAQ: SBUX) at 'BBB+' and has affirmed the Short-Term IDR at 'F2'. The Rating Outlook is Stable.

Starbucks' 'BBB+'/'F2' ratings balance its shareholder-friendly financial strategy with its substantial FCF, which Fitch expects will exceed $1 billion annually (excluding a one-time tax payment related to a licensing agreement with Nestle in fiscal 2020). The ratings also reflect the company's significant scale and global footprint. Fitch expects Starbucks will maintain total adjusted debt/EBITDAR below 3.5x (capitalizing total rent payments at 8x), in line with its publicly stated target of maintaining leverage (based on lease adjusted base rent of 6x) at less than 3x.
 

Users who are viewing this thread

  • Alto