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 PRESS RELEASE

Vera Therapeutics Announces Pricing of Public Offering of Class A Comm...

Vera Therapeutics Announces Pricing of Public Offering of Class A Common Stock BRISBANE, Calif., Dec. 09, 2025 (GLOBE NEWSWIRE) -- Vera Therapeutics, Inc. (“Vera Therapeutics”), a late clinical-stage biotechnology company focused on developing and commercializing transformative treatments for patients with serious immunologic diseases, today announced the pricing of an underwritten public offering of 6,138,108 shares of its Class A common stock at a price to the public of $42.50 per share. The gross proceeds to Vera Therapeutics from the offering, before deducting underwriting discounts ...

Ejann Hiew ... (+3)
  • Ejann Hiew
  • Shirley Wang Xueyi
  • Stella Guo Yuting

Mao Geping Cosmetics (1318 HK): NDR Takeaways.

We hosted an NDR group call with Mao Geping. During the 11.11 campaign, the company achieved 32% revenue growth, despite last year’s high base, in line with its internal targets. The company targets a net addition of 30 counters annually, and focuses on just around 50 SKUs with proven market feedback in online channels. In Oct 25, it opened its first self-operated counter in Hong Kong SAR. Looking ahead, it plans to expand into Singapore, Japan, Paris, and London.

Alameda Unified School District, CA: Update to credit analysis

Our credit view of this issuer reflects its high resident income, robust wealth levels, and solid financial position, against its elevated leverage profile.

Under Armour, Inc.: Update following downgrade to B1

Our credit view of Under Armour reflects its weak performance and turnaround amid a difficult environment, partly offset by low level of funded debt, good liquidity and recognized brand.

Posmarito Pakpahan
  • Posmarito Pakpahan

Banking - Contained Banking-Sector Risk From Sumatra Floods

Sector Update | Banking The Sumatra floods have caused severe local disruptions and exacted a tragic humanitarian toll, resulting in a GDP drag of 0.1% in 4Q25. Banking-system exposure is modest at 5% of loans, with near-term pressure concentrated in micro and SME borrowers. Provisioning may rise slightly in 1Q26 but remains manageable given strong sector buffers. Exposure varies across banks, with BRIS and BBRI being the most affected. Despite short-term noise, the event does not alter the sect...

Suryaputra Wijaksana
  • Suryaputra Wijaksana

Economics - Directive Approach, Structural Limits: Assessing Indonesia...

Economics | Directive Approach, Structural Limits: Assessing Indonesia's New Forex Proceed Rules Indonesia's 2026 revision of its export proceeds (DHE) rules mandates that all export earnings be placed exclusively in state-owned banks, while cutting the rupiah conversion limit to 50%. This state-directed strategy aims to mechanically boost forex reserves and stabilise the onshore currency market. However, it risks distorting the banking sector, creating liabilities for state banks and squeezing ...

 PRESS RELEASE

Over 20 Studies of InnoCare’s Orelabrutinib Presented at the 67th Annu...

Over 20 Studies of InnoCare’s Orelabrutinib Presented at the 67th Annual Meeting of the American Society of Hematology (ASH) BEIJING, Dec. 09, 2025 (GLOBE NEWSWIRE) -- InnoCare Pharma (HKEX: 09969; SSE: 688428), a leading biopharmaceutical company focusing on the treatment of cancer and autoimmune diseases, announced today that over 20 studies of its novel BTK inhibitor orelabrutinib were presented at the 67th Annual Meeting of the American Society of Hematology (ASH). Orelabrutinib has demonstrated remarkable efficacy and safety in multiple lymphoma studies, including marginal zone lymp...

Ejann Hiew ... (+4)
  • Ejann Hiew
  • Greater China Research Team
  • Shirley Wang Xueyi
  • Stella Guo Yuting

Greater China Daily: Wednesday, December 10, 2025

Top Stories Company Update | Mao Geping Cosmetics (1318 HK/NOT RATED/HK$83.95) We hosted an NDR group call with Mao Geping. During the 11.11 campaign, the company achieved 32% revenue growth, despite last year’s high base, in line with its internal targets. The company targets a net addition of 30 counters annually, and focuses on just around 50 SKUs with proven market feedback in online channels. In Oct 25, it opened its first self-operated counter in Hong Kong SAR. Looking ahead, it plans to...

MPH Acquisition Holdings LLC: Update to credit analysis

Our credit view of this issuer reflects its high operating margins, offset by its high financial leverage and high customer concentration.

Town of Hopedale, MA: New Issue

Our credit view of this issuer reflects its conservative budgeting practices and its manageable leverage and fixed costs, constrained by its reserves below similarly-rated municipalities.

Warrior Met Coal, Inc.: Update following the revision of the outlook t...

Our credit view of this issuer reflects its high quality assets, strong credit metrics and liquidity, against its operational concentration.

Moody's Ratings assigns provisional ratings to GS Mortgage-Backed Secu...

Moody's Ratings (Moody's) has assigned provisional ratings to 68 classes of residential mortgage-backed securities (RMBS) to be issued by GS Mortgage-Backed Securities Trust 2025-PJ11, and sponsored by Goldman Sachs Mortgage Company (GSMC). The securities are backed by a pool of prime jumbo (83.9%...

Moody's Ratings assigns definitive ratings to five CMBS classes of BAN...

Moody's Ratings (Moody's) has assigned definitive ratings to five classes of CMBS securities, issued by BANK5 2025-5YR18, Commercial Mortgage Pass-Through Certificates, Series 2025-5YR18: Cl. A-1, Definitive Rating Assigned Aaa (sf) Cl. A-2, Definitive Rating Assigned Aaa (sf) Cl. A-3, Definitiv...

Moody's Ratings says Paramount's $108.4 billion hostile bid for Warner...

Moody's Ratings (Moody's) said Paramount Global's $108.4 billion hostile bid for Warner Bros. Discovery, Inc. (WBD, Ba1 review for downgrade) comes with significant risk, but makes strategic sense. On December 7, Paramount Global's (Baa3 negative) parent company Paramount Skydance said it made an al...

GS Mortgage-Backed Securities Trust 2025-PJ11: Eleventh prime jumbo is...

This report explores the credit quality of the transaction, including both credit strengths and challenges, and addresses the transaction’s assets and structure.

Maskun Ramli ... (+3)
  • Maskun Ramli
  • Posmarito Pakpahan
  • Suryaputra Wijaksana

Indonesia Daily - Wednesday, December 10, 2025

Economics | Directive Approach, Structural Limits: Assessing Indonesia's New Forex Proceed Rules Indonesia's 2026 revision of its export proceeds (DHE) rules mandates that all export earnings be placed exclusively in state-owned banks, while cutting the rupiah conversion limit to 50%. This state-directed strategy aims to mechanically boost forex reserves and stabilise the onshore currency market. However, it risks distorting the banking sector, creating liabilities for state banks and squeezing ...

 PRESS RELEASE

Rocket Lab Brings Forward Earth Observation Launch for KAIST, Liftoff ...

Rocket Lab Brings Forward Earth Observation Launch for KAIST, Liftoff Scheduled for Tomorrow LONG BEACH, Calif., Dec. 09, 2025 (GLOBE NEWSWIRE) -- Rocket Lab Corporation (Nasdaq: RKLB) (“Rocket Lab” or “the Company”), a global leader in launch services and space systems, today announced it is expediting a dedicated Electron mission for the Korea Advanced Institute of Science and Technology (KAIST) and is scheduling the launch from Launch Complex 1 in less than 24 hours’ time. The mission, named ‘Bridging The Swarm’, is scheduled to launch no earlier than Thursday, December 11 UTC from Ro...

Kinross Gold Corporation: Update to credit analysis following upgrade

Our credit view of this issuer reflects its conservative financial policies, its low financial leverage and its stable production and cost profile.

Business and Consumer Services – US: Maturity wall moves closer for sp...

Refinancing risk for speculative-grade business and consumer services companies is up as the largest maturity wall has moved closer and near-term debt maturities (2026 and 2027) have risen.

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