Topic
Financial Reporting
Showing 51 to 60 of 102 results using the term “Financial Reporting”
Kem One Struggles Amid Prolonged Demand Recovery, Intense Competition; Fos Project Strains Liquidity, Springing Covenant Limits RCF Access; Faces Further Downgrade Risk; 2028 SSNs Yield 11%
Credit Research: Mengdi Zhang, CFA Relevant Items: Q2’2024 Earnings Sustainability-Linked 2028 SSNs- Prelim OM Covenant Analysis Historical Financials Kem One, a French commodity chemical producer specializing in polyvinyl chloride, or PVC, caustic soda and chloromethanes, has seen a...
Published on Nov 4, 2024
EARNINGS ANALYSIS: Scripps Raises Political Ad Revenue Guidance to ‘At Least’ $340M in 2024, Expects to Reduce Leverage to High-4x Range by Year-End; Sale of Bounce TV Postponed to 2025 Due to Failure to Agree on Terms With Prospective Buyer
Credit Research: Anton Mozgovoj Relevant Document: Press Release E.W. Scripps disclosed this morning, alongside its third-quarter results, that it anticipates reducing its leverage to the high-4x range by year-end. The company previously anticipated reducing leverage to the low-to-mid-5x range by...
Published on Nov 4, 2024
Waterfall Analysis: Cerba’s Transformation Plan Hindered by Potential Further Tariff Cuts; High Leverage 8.4x Despite Large PF Adjustment; No Immediate Triggers; Full Recovery in Base Case; SUNs Yield at 16.5%
Editor’s Note: The Moody’s credit rating for Cerba in the peer table has been amended to Caa1 to reflect the corporate family rating. An earlier version of this story incorrectly showed Caa3, which is the credit rating for the company’s SUNs. The EBITDA item...
Published on Sep 25, 2024
Tear Sheet: Infrabuild EBITDA Leverage Likely To Peak At 4.9x in Fiscal ‘25 Amid Weak Earnings, Supplier Disruptions; GFG-linked Corporate Governance Risks Remain; Due ‘28s 800bps Wider Than Australia HY Despite Substantial Collateral Support
Credit Research: Rocky Andaya Relevant Document: Infrabuild Australia Pty Ltd 14.5% $200 million Due 2028 OM (Due ’28 OM) Reorg Asia Highlights: Infrabuild Australia Pty Ltd is Australia’s only vertically integrated Electric Arc Furnace, or EAF, steel long products manufacturer...
Published on Sep 19, 2024
Primary High Yield: Shearer’s Foods Unsecured Notes Due 2032 Include High-Water Mark Provisions, 90% Threshold for Fundamental Changes, Other Aggressive Terms
Legal Research: Rebecca DeLong Relevant Items: Unsecured Notes Due 2032 Primary Covenant Analysis Preliminary Offering Memorandum Shearer’s Foods is issuing senior notes due 2032 (the “2032s”), to be issued by subsidiary entity Fiesta Purchaser Inc. (the “Issuer”). The...
Published on Sep 9, 2024
Reorg’s Q2 2024 U.S. Earnings Analytics Report Shows Top-Line Growth Continues to Decelerate Year Over Year
NEW YORK–(BUSINESS WIRE)–Reorg, the leading provider of global credit intelligence and data, has released its Q2 2024 U.S. Earnings Analytics Report of private and public sub-investment grade borrowers. The report found that the median U.S. company’s top-line growth continued to...
Published on Sep 17, 2024
EARNINGS CALL: Cerba Bonds, Loans Drop on About 9% Tariff Cuts From French Government; Company to Assess Full Impact, Work on Mitigation Plan; 2Q’24 Sees Return to Organic Sales Growth
Reporting: Chiara Elisei, Farooq Baloch, Robert Schach Relevant Documents: Presentation French laboratory group Cerba Healthcare returned to organic sales growth for the first time in a while in the second quarter of 2024, which was “a significant milestone” for the company, its CEO...
Published on Sep 4, 2024
Equity Bull Market, Elections, Push India Private Credit Deal Volumes Down for H124
India’s equity bull market run was the primary cause of the drop in the country’s private credit deal volume in the first half of calendar year 2024, multiple sources told Reorg. India deal volume fell 4.9% year on year to $4.45 billion-equivalent across 57 deals, according to Reorg...
Published on Jul 23, 2024
Reorg Releases Its Latest Rankings Data Showing Ares, Eurazeo, Goldman Sachs Private Credit as Top European Direct Lenders for the First Half of 2024
Published on Jul 15, 2024