Corporate Finance

Finance Roundup for Executives

Be informed, get involved, and shape the world through finance.
Kerry MarunaJanuary 25, 2016

The Latest Headlines from CFO

The proportion of downgrades to total rating actions reached 69% last year, the highest level since the financial crisis in 2009, but the outlook for global credit markets remains strong, according to Standard & Poor’s.

In a report released Wednesday, the rating agency said it downgraded 892 corporate issuers (accounting for about $6.9 trillion in rated debt) and upgraded 394 issuers (accounting for about $2.7 trillion) in 2015. Downgrades also were at the highest level since 2009.

Read: “Debt Downgrade at Highest Level Since 2009”

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American Express shares suffered a sharp decline on Friday as investors reacted to a 38% drop in fourth-quarter profit and a disappointing 2016 earnings forecast.

The stock was down nearly 12% at $55.28, a drop that followed a 3.7% slide in extended trading Thursday after AmEx reported its fourth-quarter results.

Read: “AmEx Stock Slump Continues on Q4 Report”

 

Debt Downgrades at Highest Level Since 2009

The rating agency said it downgraded 892 corporate issuers (accounting for about $6.9 trillion in rated debt) in 2015.

Matthew Heller

 

Electrolux Loses CFO After GE Deal Falls Apart

Tomas Eliasson is the second top executive to announce his departure from Electrolux since GE decided not to sell its appliance unit to the Swedish firm.

Matthew Heller

 

AmEx Stock Slump Continues on Q4 Report

The shares slump nearly 12% as AmEx CEO Ken Chenault says the company is now “operating in a new reality.”

Matthew Heller

 

CFOs on the Move: Week Ending Jan. 22

TheStreet, Enable Midstream, Federal-Mogul, Aaron’s, Liberty TripAdvisor, RealPage, U.S. Concrete, Commercial Metals, Church Mutual Insurance, Vectra

Joan Urdang

 

Sports Authority Working on Deal With Lenders

Moody’s says there is a “high probability” the retailer could default after missing a key $20 million interest payment last week.

Katie Kuehner-Hebert

 

Q4 Profit Falls in Most of GE’s Core Businesses

Falling oil prices drove down profits in most of the industrial businesses but GE reaffirmed its 2016 outlook.

Katie Kuehner-Hebert

 

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