Fitch Revises Outlook on Vietcombank to Positive; Affirms IDR at BB- bizlive.vn - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bizlive.vn Daily Mail and Mail on Sunday newspapers.
Domestic demand to help Genting Malaysia reach pre-COVID EBITDA by late 2022: Fitch
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Fitch Ratings says it expects Malaysian-based integrated resort operator Genting Malaysia to return to pre-pandemic level EBITDA and deleverage by the end of 2022 thanks to healthy demand from the domestic market.
The assessment formed the basis for Fitch to this week issue Genting Malaysia with a Long-Term Issuer Default Rating (IDR) of “BBB” with a negative outlook, impacted by the effects of the global COVID-19 pandemic.
A “BBB” rating considers companies to be of investment grade, medium class and “satisfactory” at any given point in time.
Despite COVID-19 resulting in a net loss of MYR2.26 billion (US$547 million) for Genting Malaysia in FY20, Fitch noted that pent-up demand from locals had seen the company’s Malaysian IR, Resorts World Genting (RWG), recover to 66% of 3Q19 revenue and 79% of EBITDA in the third quarter of 2020. RWG was later forced to suspend operat
02 april 2021
02 april 2021 (diamonds.net) - Customers of the Gemological Institute of America (GIA) are experiencing severe delays to grading submissions, creating worries about inventory management, Rapaport News has learned. A sharp increase in rough buying since December has led to heightened demand for grading reports, while lower capacity because of Covid-19 restrictions has placed extra pressure on the GIA. The turnaround time in some markets is currently up to 25 days, compared with the usual period of around seven days, diamond manufacturers reported this week.
Investegate |TBC Bank Group PLC Announcements | TBC Bank Group PLC: JSC TBC Bank s revised outlook by Fitch investegate.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from investegate.co.uk Daily Mail and Mail on Sunday newspapers.
Fitch affirms IIFL Finance at B-plus with stable outlook ANI | Updated: Mar 16, 2021 15:05 IST
Singapore, March 16 (ANI): Fitch Ratings on Tuesday affirmed IIFL Finance Ltd s long-term issuer default rating at B-plus and removed the rating from rating watch negative (RWN).
The outlook is stable, reflecting Fitch s view of easing downside risk to the company s credit profile due to less adverse economic and funding conditions which is expected to be broadly sustained in the coming year.
The ratings were placed on RWN in March 2020 and maintained on RWN at the last review in September 2020.
IIFL Finance s rating is driven by its standalone credit profile, reflecting its moderate local franchise and diversified loan portfolio, balanced against more opportunistic strategy and execution, exposure to higher-risk loan segments and a more market-sensitive funding profile that is less cushioned by contingent funding and liquidity buffers relative to