reports
- John Mackerey
- Shokhrukh Temurov
- John Mackerey
- Shokhrukh Temurov
DBRS Morningstar Confirms Central 1 Credit Union’s Ratings, Including ...
Please refer to PDF document for more detail about our research: DBRS Morningstar Confirms Central 1 Credit Union’s Ratings, Including its Long-Term Issuer Rating at A (high) and Short-Term Issuer Rating at R-1 (middle), Stable Trends
- Maria Khoury
- Michael Driscoll
Central 1 Credit Union: Rating Report
On August 30, 2021, DBRS Morningstar changed the trend on Central 1's ratings to Stable from Negative. DBRS Morningstar also confirmed all of Central 1’s ratings, including its Long-Term Issuer Rating at A (high) and its Short-Term Issuer Rating at R-1 (middle).
- Maria Khoury
- Michael Driscoll
- Maria Khoury
- Michael Driscoll
- Michael Driscoll
- Sohail Ahmer
Central 1's Net Income Declines while Systems Generate Healthy Levels ...
Central 1 Credit Union (Central 1) reported lower Q4 2020 net income of $5.5 million, which compares with $25.6 million in Q3 2020. Although normalizing credit spreads benefitted revenue, the quarter-over-quarter decline in earnings primarily was due to an impairment charge related to intangible assets associated with Central 1's Digital and Payments segment. Positively, Central 1 recovered provision for credit losses (PCL) during the quarter. For F2020, net income grew by 6% year over year to $...
- Michael Driscoll
- Sohail Ahmer
Central 1's Q3 2020 Net Income Declines Sequentially Due To Smaller Un...
Central 1 Credit Union (Central 1) reported lower Q3 2020 net income of $25.6 million, which was down compared with $72.1 million in Q2 2020, driven by lower mark-to-market gains on its net asset position and lower profit from discontinued operations, which represent earnings associated with the Mandatory Liquidity Pool (MLP). Quarterly earnings can be volatile for Central 1 given the sensitivity of its net asset position to changes in credit spreads. Positively, quarterly earnings benefitted fr...
- Michael Driscoll
- Sohail Ahmer
Central 1 Credit Union: Rating Report
On July 27, 2020, DBRS Morningstar changed the trend on Central 1 Credit Union’s (Central 1) ratings to Negative from Stable. DBRS Morningstar also confirmed all of Central 1’s ratings, including its Long-Term Issuer Rating at A (high) and Short-Term Issuer Rating at R-1 (middle).
- Michael Driscoll
- Sohail Ahmer
- Michael Driscoll
- Sohail Ahmer
- Michael Driscoll
- Sohail Ahmer
Central 1 Generates a Net Loss of $67 Million in Q1 2020; Capitalizati...
Central 1 Credit Union (Central 1) reported a net loss of $67.0 million in Q1 2020, up from a net loss of $9.3 million in Q4 2019. The sequential increase in the net loss was due to an unprecedented widening of credit spreads that generated mark-to-market losses on Central 1's net asset position.
- Robert Colangelo
- Sohail Ahmer
DBRS Morningstar: Central 1 Generates a Loss in Q4 2019 from Ongoing T...
Central 1 Credit Union (Central 1) reported a net loss of $9.3 million in Q4 2019, compared with a profit of $5.7 million in Q3 2019. This loss was primarily driven by Central 1’s ongoing investments in technology initiatives which are expensed each quarter. For F2019, Central 1 generated a profit from continuing operations of $6.7 million versus a loss of $11.1 million in F2018, on a comparable basis. Although Central 1’s technology investments have been a drag on earnings since Q1 2018, DB...
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