Portafogli e Strategie (investimento) Investment Grade, entro le frontiere conosciute. (2 lettori)

waltermasoni

Caribbean Trader
Fitch Downgrades Ford & Ford Credit IDRs to 'BBB-'; Outlook Negative
23 MAR 2020 11:41 AM ET



Fitch Ratings - Chicago - 23 March 2020:

Fitch Ratings has downgraded the Issuer Default Ratings (IDRs) of Ford Motor Company (Ford) and its Ford Motor Credit Company LLC (Ford Credit) finance subsidiary and affiliates to 'BBB-' from 'BBB'.

The Rating Outlook for both Ford and Ford Credit is Negative.
 

mago gambamerlo

Xx Phuket xX
[QUOTE="waltermasoni, post: 1045997277, member: 36862


Walter , scusa la domanda , quali IG Bonds reputi interessanti da monitorare ? Sia in USD che in € , Anticiclici ? Ciclici che hanno domanda causa crisi ? ( sono Cassetista ) . Nel caso avessi qualke suggerimento ti ringrazio in anticipo .
 

waltermasoni

Caribbean Trader
[QUOTE="waltermasoni, post: 1045997277, member: 36862


Walter , scusa la domanda , quali IG Bonds reputi interessanti da monitorare ? Sia in USD che in € , Anticiclici ? Ciclici che hanno domanda causa crisi ? ( sono Cassetista ) . Nel caso avessi qualke suggerimento ti ringrazio in anticipo .


Guarda io in questo momento acquisto solo bond su etf (Hy, emerging mark, inv grade) per differenziare proprio il rischio individuale...
Dunque non monitoro piu’ di tanto
 

waltermasoni

Caribbean Trader
Non
Rating Action:
Moody's places General Motors Financial Company's ratings on review for downgrade, following similar action on the ratings for its parent

25 Mar 2020
New York, March 25, 2020 -- Moody's Investors Service, ("Moody's") placed the ratings for General Motors Financial Company, Inc. (GMF) and its subsidiaries, including the Baa3 long-term senior unsecured and the Prime-3 short-term ratings, on review for downgrade.



The rating action follows a similar action on the ratings for GMF's ultimate parent company General Motors Company (GM, Baa3 senior unsecured, review for downgrade). Please see separate press release dated 25 March 2020.



The rapid and widening spread of the coronavirus outbreak, the deteriorating global economic outlook and falling oil prices are creating a severe and extensive credit shock across many sectors, regions and markets. The current situation as well as the significant rise in used car prices over the last decade place pressure on the credit strengths of the auto captive sector, on which we maintain a negative outlook. Moody's believes that delinquency rates, loan defaults and lease residual realization trends will worsen in the next 12 months. We note, however, that US auto captive finance companies are moderately well positioned to weather a level of shock in the system absent meaningful declines in used car prices and a rapid and unexpected deterioration of liquidity at the parent level.



In its analysis Moody's incorporates the strategic importance of captives to their auto affiliates due to their ability to stimulate auto sales. Auto finance captives are expected to provide a consistent source of purchase financing to dealers and consumers, thereby aiding the auto manufacturers in meeting their sales objectives. The reliance of the auto finance captives on their automotive parents for liquidity remains high, although an important feature of the auto finance companies is their ultimate reliance on consumers and dealers to regularly make monthly payments on their loans or leases thereby partially reducing debt outstanding on the asset-backed securitization pools used by the auto captives for a portion of the loans and leases.



To the extent that capital markets with respect to the unsecured and secured funding contract, captives will have to reduce the new origination volumes although it will be to the disadvantage of the parent as the parent aims to originate new sales once the environment stabilizes.
 

waltermasoni

Caribbean Trader

Russia 'BBB-/A-3' Foreign Currency And 'BBB/A-2' Local Currency Ratings Affirmed; Outlook Stable

  • 26-Mar-2020 17:06 EDT
View Analyst Contact Information
  • Table of Contents
Overview
  • We have significantly lowered our oil price assumptions for 2020 and 2021.
  • The global economic outlook has weakened significantly amid the coronavirus pandemic.
  • However, Russia's strong policy framework, including a flexible exchange rate and the stringent fiscal rule, amid solid external and public balance sheets, should enable its economy to absorb these shocks.
  • We are therefore affirming our 'BBB-/A-3' foreign currency and 'BBB/A-2' local currency sovereign credit ratings on Russia.
  • The outlook is stable.
 

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