reports
Moody's Ratings affirms University of Utah Hospitals & Clinics' Aa2; o...
Moody's Ratings (Moody's) has affirmed the Aa2 ratings on University of Utah Hospitals & Clinics' debt. Bonds were originally issued by the Utah Board of Higher Education (formally known as the State Board of Regents of the State of Utah). The University of Utah Hospitals & Clinics has approximately...
- Bella Lu Yifei
- Greater China Research Team
- Julia Pan Mengyao
- Ken Lee
- Kenny Yong Hui Lim
- Ming San Soong
Greater China Daily: Wednesday, May 22, 2024
KEY HIGHLIGHTS Initiate Coverage Huize Holding (HUIZ US/BUY/US$0.88/Target: US$2.00) Huize is the leading insurance technology platform in China focusing on the digital distribution of long-term L&H insurance products. We expect it to deliver a sustainable three-year CAGR of 13.9% in net profit over 2023-26, driven by its leading product innovation capabilities, high-quality customer base and exciting overseas growth. Huize will also continue to boost operating leverage by integrating AI tec...
Moody's Ratings upgrades ratings on two classes and downgrades one cla...
Moody's Ratings (Moody's) has upgraded the ratings on the following notes issued by Peaks CLO 2, Ltd.: U.S.$18,000,000 Class B-R Senior Secured Floating Rate Notes Due 2031 (the "Class B-R Notes"), Upgraded to Aaa (sf); previously on August 9, 2019 Assigned Aa2 (sf) U.S.$9,000,000 Class C-R Secu...
- Paula Ruth
Telecommunications – 1Q24 EBITDA Up 9% yoy; EXCL Showed Slight Gain In...
The combined EBITDA and net profit of TLKM, ISAT, and EXCL was up by 9% yoy (4% qoq) and 4% yoy (3% qoq) respectively, despite more signs of competition in 1Q24. EXCL showed a slight gain in market share (based on 1Q24 EBITDA) among the top 3 telcos, partly thanks to EBITDA margin expansion. The upcoming Eid al-Fitr festive season could bring a slightly positive seasonality to telcos’ 2Q24 performance. Maintain OVERWEIGHT with EXCL as our top pick.
- Maskun Ramli
- Paula Ruth
- Bella Lu Yifei
- Julia Pan Mengyao
- Ken Lee
- Kenny Yong Hui Lim
- Ming San Soong
- Paula Ruth
Regional Morning Meeting Notes: Wednesday, May 22, 2024
GREATER CHINA Initiate Coverage Huize Holding (HUIZ US/BUY/US$0.88/Target: US$2.00) Leading intelligent business model to unlock long-term value. Results XPeng Inc (9868 HK/SELL/HK$30.65/Target: HK$18.00) 1Q24: Net loss came in as expected. Maintain SELL. Target price: HK$18.00. Trip.com (9961 HK/BUY/HK$436.40/Target: HK$556.00) 1Q24: Strong earnings beat; international travel remains the main driving f...
Moody's Ratings assigns initial Aa3 issuer rating to Sauk Centre, MN; ...
Moody's Ratings (Moody's) has assigned an initial Aa3 issuer rating to the City of Sauk Centre, MN and an A1 to the Sauk Centre Public Utilities Commission, MN's Electric Revenue Bonds, Series 2024A, with a proposed par amount of about $11 million. The city and public utilities commission will have ...
Moody's Ratings downgrades Patriot Container Corp.'s CFR to Caa1 from ...
Moody's Ratings (Moody's) downgraded Patriot Container Corp.'s (dba Wastequip) corporate family rating (CFR) to Caa1 from B3 and probability of default rating (PDR) to Caa1-PD from B3-PD. Concurrently, Moody's downgraded the company's senior secured first lien revolving credit facility and first lie...
Dyne Therapeutics Announces Pricing of $325.5 Million Public Offering ...
Dyne Therapeutics Announces Pricing of $325.5 Million Public Offering of Common Stock WALTHAM, Mass., May 21, 2024 (GLOBE NEWSWIRE) -- Dyne Therapeutics, Inc. (Nasdaq: DYN), a clinical-stage muscle disease company focused on advancing innovative life-transforming therapeutics for people living with genetically driven diseases, today announced the pricing of an underwritten public offering of 10,500,000 shares of its common stock at a public offering price of $31.00 per share. The gross proceeds to Dyne from the offering, before deducting underwriting discounts and commissions and offering...
KKR Invests in Leading Filipino Higher Education Group PHINMA Educatio...
MAKATI, Philippines--(BUSINESS WIRE)-- KKR, a leading global investment firm, and PHINMA Education Holdings, Inc. (‘PHINMA Education’ or the ‘Company’), a leading private higher education group and the education arm of Filipino conglomerate PHINMA Corporation, today announced the signing of definitive agreements under which funds managed by KKR will invest in PHINMA Education, with participation from existing shareholder Kaizenvest. PHINMA Corporation will remain the majority shareholder in PHINMA Education. This press release features multimedia. View the full release here: Established in 2...
Moody's Ratings revises Grant County Public Utility District 2, WA out...
Moody's Ratings (Moody's) has revised the rating outlook for Grant County Public Utility District 2, Washington (Grant PUD) to positive from stable while affirming the Aa3 ratings on its electric system and Priest Rapid Development revenue bonds. On a combined basis, the district has about $1.1 bill...
Imperial Drilling Intersects 257.5 Metres Grading 0.71% Copper and 0.3...
Imperial Drilling Intersects 257.5 Metres Grading 0.71% Copper and 0.39 g/t Gold at Mount Polley VANCOUVER, British Columbia, May 21, 2024 (GLOBE NEWSWIRE) -- Imperial Metals Corporation (“Imperial” or the “Company”) (TSX:III) reports diamond drill results from three more holes of the Mount Polley 2024 exploration program, including a notable interval of 257.5 metres grading 0.71% copper and 0.39 g/t gold from 35.0 metres in diamond drill hole SD-24-180. This phase of drilling is ongoing and is following up on the significant results obtained in the 2023 drill programs. Hole SD-24-180 ...
Moody's Ratings assigns Aa2 to City of Las Vegas, NV's Series 2024 GOL...
Moody's Ratings (Moody's) has assigned Aa2 ratings to the City of Las Vegas, NV's General Obligation (Limited Tax) Medium-Term Transportation Bonds, Series 2024A and General Obligation (Limited Tax) Sewer Refunding Bonds (Additionally Secured by Pledged Revenues) Series 2024B. The bonds will be issu...
Moody's Ratings assigns Aa3 to Washington State University, WA's gener...
Moody's Ratings (Moody's) has assigned a Aa3 rating to Washington State University's (WSU) (WA) proposed General Revenue Refunding Bonds, Series 2024 with an estimated par amount of $14 million. The proposed bonds will be fixed rate and have a final maturity in fiscal 2039. Moody's has also affirmed...
Moody's Ratings assigns A1 underlying, Aaa and Aa1 enhanced ratings to...
Moody's Ratings (Moody's) has assigned an A1 underlying rating to Cassia, Twin Falls & Oneida Counties Joint School District 151, ID's General Obligation Refunding Bonds, Series 2024 (Sales Tax Guaranty and Credit Enhancement Programs). The bonds are expected to be issued in the approximate par amou...
Moody's Ratings assigns ratings to two classes of CLO refinancing note...
Moody's Ratings (Moody's) has assigned ratings to two classes of CLO refinancing notes (the "Refinancing Notes") issued by Birch Grove CLO Ltd. (the "Issuer"). Moody's rating action is as follows: U.S.$240,000,000 Class A-1-RR Senior Secured Floating Rate Notes due 2037, Assigned Aaa (sf) U.S.$...
Verisk Analytics, Inc. Prices Offering of Senior Notes
Verisk Analytics, Inc. Prices Offering of Senior Notes JERSEY CITY, N.J., May 21, 2024 (GLOBE NEWSWIRE) -- Verisk Analytics, Inc. (Nasdaq: VRSK) (“Verisk” or the “Company”), a leading global data analytics and technology provider, today announced the pricing of an offering of $600 million of 5.250% Senior Notes due 2034 (the “Notes”). The closing of the offering is expected to occur on June 5, 2024, subject to satisfaction of customary closing conditions. The Company intends to use a portion of the net proceeds of this offering to fund the purchase of the Company’s outstanding 4.000% Not...
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