Moodys Investors Service
Risk Governance Improving at Big Banks
Moody's survey shows the largest global banks are beefing up their risk governance practices to comply with tougher international standards.
High-Yield Firms’ Cash Falls 9% to $281B
Speculative-grade companies spent an amount equal to four times their discretionary cash flow on dividends and buybacks in 2014, says Moody's.
Robust M&A Activity Seen Continuing
Acquisitions and combinations will continue to be attractive to companies as low interest rates make financing inexpensive.
Moody’s Upgrades Ratings for Some Big Banks
Morgan Stanley is among the beneficiaries of a new methodology that rewards higher volumes of senior debt.
Moody’s Sees Doubling in Energy Firm Defaults
The fall in oil prices is expected to fuel an increase in the oil and gas default rate from 2.7% to 7.4% by March 2016.
Investment-Grade Spinoffs Likely to Keep Rating
Moody's report finds that 75% of investment-grade spinoffs avoided drop into speculative-grade territory.
Junk-Rated Defaults Seen Continuing at Low Rate
Still, given the fall in energy prices, Moody's expects the speculative-grade default rate to rise to 3.1% in 2016.
Moody’s Sees 6.5% Profit Growth in Consumer Durables
Pent-up consumer demand and falling unemployment is expected to increase purchases of home appliances, furniture, and other goods.
Activist Shareholders Spawn Bondholder Risks, Moody’s Says
By demanding share buybacks and dividends, which are paid out of cash reserves, activists threaten debt repayments.
State Gives Atlantic City Breathing Room
The sea-side gambling town gets an extension on a $40 million loan from the state of New Jersey.
Moody’s May Upgrade Bank Debt Under New System
New elements of the methodology are designed to help determine how different creditor classes are likely to be treated when a bank fails.