- Federal Reserve Chairman Ben Bernanke said it is unclear if the US economy will experience a slow recovery like those typically seen after financial crises.
- Recoveries after financial crises tend to be more sluggish than normal recessions, due to headwinds like deleveraging and problems in the banking system. However, past policy responses may not have been aggressive enough.
- Bernanke hopes current aggressive monetary and fiscal policies will lead to a stronger recovery for the US economy.
NBH Holdings Corp. raised $1.15 billion through a private stock placement to over 70 institutional investors. The funds will be used to build a leading community banking franchise focused on serving retail and business customers through acquisitions and organic growth. James Connolly, an experienced banking executive, leads an experienced management team as President and CEO.
WFG - Helping People Create Better Financial Futurespetervinhong
This presentation gives an overview of why WFG associates go to work each day: to build and protect wealth for families and individuals. It overviews the six components of WFG\'s financial needs analysis and describes fundamental financial concepts and strategies - such as the rule of 72 - that can help people secure their financial futures.
The San Luis Obispo County Investment Pool is rated 'AAA'/'V1+' by Fitch Ratings, reflecting the pool's very low exposure to market risk through conservative investment policies. The pool maintains high credit quality and diversification standards as well as strong management oversight and operational controls. It pursues safety, liquidity, and yield through a diverse portfolio of short-term, highly-rated securities, including US Treasuries, agencies, commercial paper, and the California LAIF pool.
Ladder Capital - Investor Presentation (2021-05-14)David Merkur
Ladder Capital Corp is a leading commercial real estate investment trust that provides CRE capital through loans, securities, and equity investments. It has a national direct origination platform and $5.4 billion in assets. Some key highlights include:
- A diversified and granular portfolio of $2 billion in primarily senior secured CRE loans with a middle-market focus.
- A CRE equity portfolio of $1.2 billion focused on net leased properties across the U.S.
- A highly rated $764 million securities portfolio of predominantly short-dated CMBS.
- Improved leverage and liquidity over time, with adjusted leverage of 1.4x and $1.3 billion of un
The document provides an overview and financial analysis of four proposals for a gaming facility in Wyandotte County, Kansas. It summarizes each proposal's financing plans, including projected costs, equity contributions, and debt financing. For two proposals, it analyzes the financial strength and flexibility of the parent companies, finding that the Sartini Family Trust and International Speedway Corporation appear able to adequately fund their respective projects. However, it notes uncertainties regarding the arrangements of RED Leg Sun, LLC for one proposal.
Canadian Government debt can lead to program cuts and taxation increase down ...paul young cpa, cga
This presentation will look at all aspects of government debt including net debt, interest cost and bond rating.
Government debt is a key are for people to understand as it reflect decisions by government in terms of paying down the debt.
- The document is a letter from an investigative firm summarizing their analysis of a client's investment account at Bank of America.
- The client's $609,801 account suffered cumulative losses of $219,542 (36%) since inception in 2007 due to unsuitable investments recommended by their advisor.
- The advisor failed to properly respond to the client's concerns and questions regarding the falling value and risk of the investments.
- Federal Reserve Chairman Ben Bernanke said it is unclear if the US economy will experience a slow recovery like those typically seen after financial crises.
- Recoveries after financial crises tend to be more sluggish than normal recessions, due to headwinds like deleveraging and problems in the banking system. However, past policy responses may not have been aggressive enough.
- Bernanke hopes current aggressive monetary and fiscal policies will lead to a stronger recovery for the US economy.
NBH Holdings Corp. raised $1.15 billion through a private stock placement to over 70 institutional investors. The funds will be used to build a leading community banking franchise focused on serving retail and business customers through acquisitions and organic growth. James Connolly, an experienced banking executive, leads an experienced management team as President and CEO.
WFG - Helping People Create Better Financial Futurespetervinhong
This presentation gives an overview of why WFG associates go to work each day: to build and protect wealth for families and individuals. It overviews the six components of WFG\'s financial needs analysis and describes fundamental financial concepts and strategies - such as the rule of 72 - that can help people secure their financial futures.
The San Luis Obispo County Investment Pool is rated 'AAA'/'V1+' by Fitch Ratings, reflecting the pool's very low exposure to market risk through conservative investment policies. The pool maintains high credit quality and diversification standards as well as strong management oversight and operational controls. It pursues safety, liquidity, and yield through a diverse portfolio of short-term, highly-rated securities, including US Treasuries, agencies, commercial paper, and the California LAIF pool.
Ladder Capital - Investor Presentation (2021-05-14)David Merkur
Ladder Capital Corp is a leading commercial real estate investment trust that provides CRE capital through loans, securities, and equity investments. It has a national direct origination platform and $5.4 billion in assets. Some key highlights include:
- A diversified and granular portfolio of $2 billion in primarily senior secured CRE loans with a middle-market focus.
- A CRE equity portfolio of $1.2 billion focused on net leased properties across the U.S.
- A highly rated $764 million securities portfolio of predominantly short-dated CMBS.
- Improved leverage and liquidity over time, with adjusted leverage of 1.4x and $1.3 billion of un
The document provides an overview and financial analysis of four proposals for a gaming facility in Wyandotte County, Kansas. It summarizes each proposal's financing plans, including projected costs, equity contributions, and debt financing. For two proposals, it analyzes the financial strength and flexibility of the parent companies, finding that the Sartini Family Trust and International Speedway Corporation appear able to adequately fund their respective projects. However, it notes uncertainties regarding the arrangements of RED Leg Sun, LLC for one proposal.
Canadian Government debt can lead to program cuts and taxation increase down ...paul young cpa, cga
This presentation will look at all aspects of government debt including net debt, interest cost and bond rating.
Government debt is a key are for people to understand as it reflect decisions by government in terms of paying down the debt.
- The document is a letter from an investigative firm summarizing their analysis of a client's investment account at Bank of America.
- The client's $609,801 account suffered cumulative losses of $219,542 (36%) since inception in 2007 due to unsuitable investments recommended by their advisor.
- The advisor failed to properly respond to the client's concerns and questions regarding the falling value and risk of the investments.
The document provides resources for engineering staff resumes, cover letters, and interview preparation. It includes links to resume samples, tips for writing resumes and cover letters, interview questions and answers, and other job search tools on the resume123.org website. The resources cover topics like different resume formats, cover letter samples, frequently asked interview questions, dress codes, salary negotiation, and career development.
Mundialización y uniformidad nuevos centros y periferiaschuy_chess
La mundialización y la uniformidad pueden propagar aspectos de una cultura global pero también amenazan la identidad cultural local. El internet y la conectividad digital promueven la globalización, pero también difunden información sin revisar. Los educadores deben guiar a los estudiantes a apreciar otras culturas mientras mantienen sus propias raíces. La mundialización también crea nuevos centros económicos y periféricos, profundizando las desigualdades entre países desarrollados y subdesarrollados.
Practica 4.2. páginas web e hipervinculoscarmen_ortiz
Este documento trata sobre el uso de los weblogs como herramienta educativa. Explica que los weblogs se han convertido en una forma popular de comunicación y que su uso se ha extendido en los últimos años también en el ámbito educativo. Describe los principales usos actuales de los weblogs en la educación, como la publicación de material del curso y la creación de foros de discusión, y explica que su uso se alinea con modelos pedagógicos como la transmisión de conocimientos y el aprendizaje basado en la resolución de problemas. Finalmente, anal
Con estas actividades se reforzara en los estudiantes del grado cuarto las tablas de la multiplicación a través de la aplicación de juegos lúdicos desde las TIC en el aula de clases y esto te servirá para resolver situaciones.
Este documento describe las características de la sociedad de la información, incluyendo su exuberancia, omnipresencia, velocidad e interactividad. Discute cómo la globalización y la Internet están presionando hacia arriba y hacia abajo, creando nuevos centros y periferias. También cubre temas como las políticas públicas necesarias para que la tecnología conduzca al progreso.
El documento trata sobre la evaluación del riesgo de caries y protocolos para lesiones cervicales no cariosas. Explica la recidiva de caries, caries residual y caries radicular, así como métodos para disminuir la incidencia de caries recidivantes. También describe el método stepwise y dressing para tratar caries residual de forma intencional y las causas y aspectos clínicos de la caries radicular.
El matrimonio es una institución social y cultural que implica deberes y derechos legales para las parejas casadas, y representa el máximo compromiso de amor entre dos personas. Una unión civil es un estado civil distinto al matrimonio que otorga algunos derechos a parejas del mismo sexo u heterosexuales que no desean casarse, pero no incluye los mismos beneficios legales que el matrimonio como la adopción o herencia. Las principales diferencias son que las uniones civiles no tienen los mismos derechos y protecciones que
El documento proporciona consejos sobre cómo seleccionar un tema para un blog. Sugiere que el tema debe ser algo que apasione al autor e interese intelectualmente. Además, debería permitir ayudar a otros, ganar dinero o obligar al autor a capacitarse. Finalmente, presenta algunos enlaces de ejemplos de blogs con temas exitosos.
The document discusses a shutdown of mobile networks in certain frequency bands including 850MHz, 1800MHz and 2100MHz. It notes that the shutdown will last for 24 hours and impact approximately 3 million users. During this period, users will be unable to make or receive calls or use data services.
Top 8 litigation legal assistant resume samplesalohabgary
This document provides resources for creating resumes and preparing for interviews for litigation legal assistant positions. It includes samples of different resume formats (chronological, functional, curriculum vitae, etc.), cover letters, interview questions and answers, resume writing tips, and links to additional materials on resumes, interviews, career development and salary negotiation. The document aims to provide all relevant materials for litigation legal assistants seeking new opportunities.
Moody's downgrades Noble Group to Ba1; outlook negativeGE 94
Moody's downgraded Noble Group's ratings to Ba1 from Baa3 due to concerns over the company's liquidity and low profitability. While Noble plans to improve its liquidity through asset sales and cost cuts, Moody's views Noble's liquidity position as still constrained and expects challenges to consistent access to bond markets, characteristics more consistent with Ba-rated entities. The negative outlook reflects execution risk in Noble's plans and uncertainty from low commodity prices.
The document provides information about credit rating agencies in India. It discusses how India was one of the first developing countries to establish a credit rating agency in 1988. It then outlines the key functions and importance of credit rating agencies, describing how they assess an entity's creditworthiness and ability to repay debt through financial analysis and assigning ratings. The document also details the credit rating process, highlighting the steps of data gathering, management meetings, rating assignment, publication and ongoing surveillance. Finally, it lists the major credit rating agencies operating in India, including CRISIL, ICRA, CARE, Duff & Phelps and Onicra.
This document provides an investor presentation for the Pyatt Broadmark Real Estate Lending Fund I (PBRELF I). The fund invests in short-term, first lien real estate loans in the Pacific Northwest, with a goal of providing high yields while minimizing risk. It has $127.8 million in assets under management. The fund offers monthly distributions averaging around 0.95% and has consistently delivered annual returns of 11-12% since inception in 2010. It provides diversification through over 100 loans, and has stringent underwriting processes to minimize risk to investors.
Noble Group Moody's Global Credit Research Rating action GE 94
Credit Opinion: Noble Group Limited
Noble's Ba1 corporate family and senior unsecured bond ratings reflect the low level of profitability inherent in its business, the volatility of the commodities markets in which it operates, and the consistently negative free cash flows from its core operating units.
The j.g. wentworth company business updateinvestorjgwpt
The document provides an overview of The J.G. Wentworth Company, including its business segments, leadership, financial performance, and strategic initiatives. It discusses the company's focus on structured settlements, home lending, and prepaid cards. Key highlights include record loan volumes and adjusted EBITDA in home lending, efforts to improve structured settlements operations, and new product launches in prepaid cards. Biographies of the CEO and leadership team are also provided.
The document discusses credit rating agencies and their role in evaluating the creditworthiness of corporations and governments that issue debt securities. It notes that credit rating agencies have been in existence since 1900 but it was in 1975 when the SEC formally recognized nationally recognized statistical rating organizations (NRSROs) and instructed broker-dealers to only use NRSRO ratings. The document goes on to discuss how financial institutions could satisfy capital requirements by investing in securities that received favorable ratings from NRSROs. It indicates that NRSROs are regulated by the SEC and that their ratings provide investors with objective analyses and independent assessments of risk associated with securities issued by corporations and governments.
UNIT 1 FINANCIAL CREDIT RISK ANALYTICS (1).pptxVikash Barnwal
Credit analysis is the process of evaluating the creditworthiness of a business or organization. It involves analyzing financial statements, cash flows, collateral, and other factors to assess the entity's ability to repay debt. The key aspects of creditworthiness evaluated are capacity, character, capital, cash flow, collateral, conditions, and control. The credit analysis process involves collecting information on the loan, business, and risks. The information is then analyzed to make a decision on the loan request and design an appropriate loan structure. Credit analysis is important for lenders to evaluate default risk and for investors to assess a debt issuer's ability to meet obligations.
Boardwalk Capital Management is an independent investment advisory firm based in Atlanta, Georgia that was founded in 2009. It manages portfolios for investors who want to connect their assets with social values without sacrificing returns. Boardwalk brings decades of investment experience and unique expertise in sustainable investing to customize each client's portfolio according to their specific values. It constructs portfolios using both traditional and socially impactful investments like ESG equities, quality of life bonds, and renewable energy to achieve competitive returns while reducing overall portfolio volatility.
The document provides resources for engineering staff resumes, cover letters, and interview preparation. It includes links to resume samples, tips for writing resumes and cover letters, interview questions and answers, and other job search tools on the resume123.org website. The resources cover topics like different resume formats, cover letter samples, frequently asked interview questions, dress codes, salary negotiation, and career development.
Mundialización y uniformidad nuevos centros y periferiaschuy_chess
La mundialización y la uniformidad pueden propagar aspectos de una cultura global pero también amenazan la identidad cultural local. El internet y la conectividad digital promueven la globalización, pero también difunden información sin revisar. Los educadores deben guiar a los estudiantes a apreciar otras culturas mientras mantienen sus propias raíces. La mundialización también crea nuevos centros económicos y periféricos, profundizando las desigualdades entre países desarrollados y subdesarrollados.
Practica 4.2. páginas web e hipervinculoscarmen_ortiz
Este documento trata sobre el uso de los weblogs como herramienta educativa. Explica que los weblogs se han convertido en una forma popular de comunicación y que su uso se ha extendido en los últimos años también en el ámbito educativo. Describe los principales usos actuales de los weblogs en la educación, como la publicación de material del curso y la creación de foros de discusión, y explica que su uso se alinea con modelos pedagógicos como la transmisión de conocimientos y el aprendizaje basado en la resolución de problemas. Finalmente, anal
Con estas actividades se reforzara en los estudiantes del grado cuarto las tablas de la multiplicación a través de la aplicación de juegos lúdicos desde las TIC en el aula de clases y esto te servirá para resolver situaciones.
Este documento describe las características de la sociedad de la información, incluyendo su exuberancia, omnipresencia, velocidad e interactividad. Discute cómo la globalización y la Internet están presionando hacia arriba y hacia abajo, creando nuevos centros y periferias. También cubre temas como las políticas públicas necesarias para que la tecnología conduzca al progreso.
El documento trata sobre la evaluación del riesgo de caries y protocolos para lesiones cervicales no cariosas. Explica la recidiva de caries, caries residual y caries radicular, así como métodos para disminuir la incidencia de caries recidivantes. También describe el método stepwise y dressing para tratar caries residual de forma intencional y las causas y aspectos clínicos de la caries radicular.
El matrimonio es una institución social y cultural que implica deberes y derechos legales para las parejas casadas, y representa el máximo compromiso de amor entre dos personas. Una unión civil es un estado civil distinto al matrimonio que otorga algunos derechos a parejas del mismo sexo u heterosexuales que no desean casarse, pero no incluye los mismos beneficios legales que el matrimonio como la adopción o herencia. Las principales diferencias son que las uniones civiles no tienen los mismos derechos y protecciones que
El documento proporciona consejos sobre cómo seleccionar un tema para un blog. Sugiere que el tema debe ser algo que apasione al autor e interese intelectualmente. Además, debería permitir ayudar a otros, ganar dinero o obligar al autor a capacitarse. Finalmente, presenta algunos enlaces de ejemplos de blogs con temas exitosos.
The document discusses a shutdown of mobile networks in certain frequency bands including 850MHz, 1800MHz and 2100MHz. It notes that the shutdown will last for 24 hours and impact approximately 3 million users. During this period, users will be unable to make or receive calls or use data services.
Top 8 litigation legal assistant resume samplesalohabgary
This document provides resources for creating resumes and preparing for interviews for litigation legal assistant positions. It includes samples of different resume formats (chronological, functional, curriculum vitae, etc.), cover letters, interview questions and answers, resume writing tips, and links to additional materials on resumes, interviews, career development and salary negotiation. The document aims to provide all relevant materials for litigation legal assistants seeking new opportunities.
Moody's downgrades Noble Group to Ba1; outlook negativeGE 94
Moody's downgraded Noble Group's ratings to Ba1 from Baa3 due to concerns over the company's liquidity and low profitability. While Noble plans to improve its liquidity through asset sales and cost cuts, Moody's views Noble's liquidity position as still constrained and expects challenges to consistent access to bond markets, characteristics more consistent with Ba-rated entities. The negative outlook reflects execution risk in Noble's plans and uncertainty from low commodity prices.
The document provides information about credit rating agencies in India. It discusses how India was one of the first developing countries to establish a credit rating agency in 1988. It then outlines the key functions and importance of credit rating agencies, describing how they assess an entity's creditworthiness and ability to repay debt through financial analysis and assigning ratings. The document also details the credit rating process, highlighting the steps of data gathering, management meetings, rating assignment, publication and ongoing surveillance. Finally, it lists the major credit rating agencies operating in India, including CRISIL, ICRA, CARE, Duff & Phelps and Onicra.
This document provides an investor presentation for the Pyatt Broadmark Real Estate Lending Fund I (PBRELF I). The fund invests in short-term, first lien real estate loans in the Pacific Northwest, with a goal of providing high yields while minimizing risk. It has $127.8 million in assets under management. The fund offers monthly distributions averaging around 0.95% and has consistently delivered annual returns of 11-12% since inception in 2010. It provides diversification through over 100 loans, and has stringent underwriting processes to minimize risk to investors.
Noble Group Moody's Global Credit Research Rating action GE 94
Credit Opinion: Noble Group Limited
Noble's Ba1 corporate family and senior unsecured bond ratings reflect the low level of profitability inherent in its business, the volatility of the commodities markets in which it operates, and the consistently negative free cash flows from its core operating units.
The j.g. wentworth company business updateinvestorjgwpt
The document provides an overview of The J.G. Wentworth Company, including its business segments, leadership, financial performance, and strategic initiatives. It discusses the company's focus on structured settlements, home lending, and prepaid cards. Key highlights include record loan volumes and adjusted EBITDA in home lending, efforts to improve structured settlements operations, and new product launches in prepaid cards. Biographies of the CEO and leadership team are also provided.
The document discusses credit rating agencies and their role in evaluating the creditworthiness of corporations and governments that issue debt securities. It notes that credit rating agencies have been in existence since 1900 but it was in 1975 when the SEC formally recognized nationally recognized statistical rating organizations (NRSROs) and instructed broker-dealers to only use NRSRO ratings. The document goes on to discuss how financial institutions could satisfy capital requirements by investing in securities that received favorable ratings from NRSROs. It indicates that NRSROs are regulated by the SEC and that their ratings provide investors with objective analyses and independent assessments of risk associated with securities issued by corporations and governments.
UNIT 1 FINANCIAL CREDIT RISK ANALYTICS (1).pptxVikash Barnwal
Credit analysis is the process of evaluating the creditworthiness of a business or organization. It involves analyzing financial statements, cash flows, collateral, and other factors to assess the entity's ability to repay debt. The key aspects of creditworthiness evaluated are capacity, character, capital, cash flow, collateral, conditions, and control. The credit analysis process involves collecting information on the loan, business, and risks. The information is then analyzed to make a decision on the loan request and design an appropriate loan structure. Credit analysis is important for lenders to evaluate default risk and for investors to assess a debt issuer's ability to meet obligations.
Boardwalk Capital Management is an independent investment advisory firm based in Atlanta, Georgia that was founded in 2009. It manages portfolios for investors who want to connect their assets with social values without sacrificing returns. Boardwalk brings decades of investment experience and unique expertise in sustainable investing to customize each client's portfolio according to their specific values. It constructs portfolios using both traditional and socially impactful investments like ESG equities, quality of life bonds, and renewable energy to achieve competitive returns while reducing overall portfolio volatility.
The Association for Enterprise Opportunity (AEO) submitted comments on the implementation of the Community Development Financial Institutions Bond Guarantee Program. AEO believes the program represents an opportunity to expand access to capital for underserved entrepreneurs. However, the design must balance expanding access while managing risks to the government. AEO recommends the program ensure an adequate risk-sharing reserve, allow flexibility for different CDFI models and loan uses, and permit CDFIs to service their own loans. The goal is to get capital to underserved communities throughout the pilot program in a sustainable way.
Credit ratings evaluate a debtor's ability to repay debt and the likelihood of default. They are assigned by credit rating agencies and provide an objective opinion on an issuer's financial obligations. India's first credit rating agency, CRISIL, was established in 1987 and the first private rating agency was Duffs & Phelps Credit Rating India in 1995. Credit ratings use methodologies including business, financial, management and fundamental analysis to assess issuers and establish a link between risk and return for investors.
Northeast Ohio Medical University - Series 2021BDigitalMuni LLC
This document provides information for investors regarding a proposed bond offering by Northeast Ohio Medical University. It includes a preliminary principal amount of $19.1 million for General Receipts Refunding Bonds, Series 2021B to refund outstanding 2011 bonds and achieve debt service savings. The bonds will be secured by the University's general receipts and have a final maturity in 2042. Historical general receipts for the University are provided, demonstrating revenues sufficient to cover projected debt service.
BOA Credit Research (Financial Institutions) 2016Pawan Talreja
The memorandum requests establishing a new $53.98 million investment limit in Bank of America Corporation (BAC) bonds for Safra National Bank of New York. Fitch rates BAC A/Stable as of July 2016. BAC has improved its earnings but still lags peers. Continued earnings growth and exceeding its cost of capital could lead to higher ratings. BAC has a large retail deposit base and strong liquidity. The analysis provides an overview of BAC's business segments and financial performance with total assets of $2.14 trillion as of Q1 2016.
This document discusses credit concentrations and the importance of identifying, monitoring, measuring, and controlling related risks. It provides examples of how loans can be grouped into pools based on similar risk characteristics and aggregated if certain conditions are met. The document also outlines house and portfolio limits established by the bank's board to control concentration risk and discusses the value of stress testing and robust management information systems in mitigating risk.
The document discusses the role of credit rating agencies in evaluating the creditworthiness of entities and issuing ratings. It outlines that credit rating agencies analyze factors like income, credit lines, and ability to repay debt. The largest agencies are Moody's, S&P, and Fitch that rate over 90% of global debt. The document also examines specific Indian credit rating agencies like CARE, CRISIL, ICRA, and SMERA. It describes the methodology agencies use to evaluate companies and financial instruments and assign letter ratings indicating credit risk.
The Reserve Bank of India (RBI) has released final securitization guidelines for banks and non-banking financial companies (NBFCs) that are largely in line with previous draft guidelines, with some changes that are positive. Specifically, the Minimum Holding Period (MHP) has been lowered for loans with monthly repayment schedules, benefiting NBFCs. However, other important aspects such as minimum retention ratios and restrictions on credit enhancements remain unchanged. The finalization of guidelines provides clarity around securitization norms.
This document provides information about IFMC, an investment and fund management consulting firm. It summarizes IFMC's services such as financial consulting, wealth management, mergers and acquisitions, and investment loans. It describes the application process for loans, which involves submitting documents for evaluation. Approved loans can range from 1,000,000 to 50,000,000 British pounds and be used for business investments. Interest rates are between 5.8-10.4% and repayment terms are customized to the borrower's needs. IFMC also works with venture capitalists to provide investment funding and strategic partnerships for growth companies.
This document provides information on financing foreign direct investment projects in the United States. It discusses various options for obtaining financing in the initial years of a project, including using equity from the parent company or obtaining loans from the parent company, parent company's bank, or a U.S.-based bank. It also discusses obtaining longer term local financing after a few years of successful operations. The document provides advice on selecting banking partners and monitoring financial activities in the U.S.
Moody's assigned an investment manager quality assessment of MQ2 to Advis Investimentos, reflecting Moody's view of the company's very good investment management quality and control environment. Advis Investimentos is an independent asset manager based in Sao Paulo, Brazil, with over $2 billion assets under management. Moody's cited Advis Investimentos' disciplined investment process focused on performance consistency and capital protection, effective risk management controls, and strong risk-adjusted fund performance. The MQ2 assessment could be upgraded if performance and assets under management growth are sustained.
Similar to Moody's mantiene calificaciones de Banorte tras anuncio de intención de compra de Ixe (20)
Ratifica Standard & Poor´s las calificaciones de Banorte (La Jornada)banorteixe
Standard & Poor's confirmó las calificaciones crediticias de Banorte luego de que anunciara un acuerdo de fusión con Ixe. La fusión permitirá a Banorte diversificar su clientela y mercado, especialmente en el centro de México. Sin embargo, existen riesgos de integración que podrían afectar el perfil financiero de Banorte a corto plazo. Una vez superados estos desafíos, se espera que la fusión genere sinergias y economías de escala que beneficien a Banorte a largo plazo.
Banorte se fortalece al fusionarse con Ixe (El Universal)banorteixe
El nuevo grupo financiero, resultante de la fusión entre Banorte e Ixe, pasará a ocupar la tercera posición entre las instituciones financiera de México
Banorte esta a un paso de crecer más, (El Sol de México)banorteixe
Banorte está cerca de anunciar la compra de Ixe, lo que lo convertiría en el tercer banco más grande de México. Las acciones de Banorte subieron debido a las especulaciones de que pronto anunciará un acuerdo para adquirir Ixe a un precio menor al valor de mercado actual. Se espera que Banorte anuncie formalmente el acuerdo para antes del martes.
Se fusionan Ixe y Banorte; será la tercera institución mas solida del pais (L...banorteixe
Banorte e Ixe confirmaron que su fusión creará la tercera institución bancaria más sólida del país. La fusión valuada en 16.2 mil millones de pesos consolidará a ambas instituciones en un solo grupo financiero, Banorte Ixe, con activos totales de 698 mil millones de pesos. La transacción, sujeta a aprobaciones regulatorias, se espera cierre en el tercer trimestre de 2011 y fortalecerá la presencia del capital nacional en el sistema financiero mexicano.
Banorte y Ixe anunciaron su fusión definitiva, lo que los coloca como el tercer banco más grande de México. La nueva institución se llamará Grupo Financiero Banorte Ixe y estará mejor posicionada para jugar un rol protagónico en la expansión de la banca en el país. La fusión se realizará mediante un intercambio de acciones valuado en aproximadamente 16,200 millones de pesos.
Formalizan la fusión de Grupo Banorte e Ixe (La Jornada)banorteixe
La fusión entre Grupo Financiero Banorte e Ixe Grupo Financiero fue anunciada. La transacción valorada en 16,200 millones de pesos creará el tercer mayor intermediario financiero de México. La nueva entidad, llamada Grupo Financiero Banorte Ixe, integrará las operaciones de ambos bancos para fortalecer su posición con activos totales de 698,000 millones de pesos. El acuerdo está sujeto a aprobación de accionistas y autoridades.
Fitch considera que la posible adquisición de Ixe por parte de GFNorte podría afectar negativamente las calificaciones crediticias de GFNorte en el corto plazo, pero mejorar las calificaciones de Ixe a largo plazo. Si se concreta el acuerdo, Fitch colocaría las calificaciones de GFNorte y sus subsidiarias en observación negativa debido a posibles presiones sobre la capitalización de GFNorte. Sin embargo, la transacción podría mejorar la posición competitiva de GFNorte a largo plazo. Las cal
Banorte e Ixe llegan a acuerdo preliminarbanorteixe
Banorte y IXE han llegado a un acuerdo preliminar para fusionarse o integrarse de alguna manera con el objetivo de generar mayor valor conjunto. Ambas instituciones son complementarias en cuanto a marcas, líneas de negocio, segmentos de clientes y presencia geográfica. La institución resultante sería la tercera más grande de México y se beneficiaría de importantes sinergias que podrían incrementar su rentabilidad y beneficiar a accionistas y clientes.
Moody's mantiene calificaciones de Banorte tras anuncio de intención de compra de Ixe
1. Global Credit Research
Announcement
21 OCT 2010
Announcement: Banco IXE, S.A.
Moody's mantiene las calificaciones de Banorte tras anuncio de intención de compra de Ixe
Mexico, October 21, 2010 -- Moody's Investors Service anunció que las calificaciones que tiene asignadas a
Banco Mercantil del Norte, S.A. (Banorte) permanecen sin cambio luego de que el Grupo Financiero
Banorte S.A.B de C.V. (GFBanorte) anunciara que celebró un contrato no vinculante con Ixe Grupo
Financiero S.A.B. de C.V. (Ixe GF). Banorte es la principal subsidiaria de GFBanorte, representando 91% de
los activos. Ixe GF es la compañía tenedora de Banco Ixe, S.A. (Ixe), que representa 67% de los activos del
grupo.
Moody's señala que es probable que la adquisición propuesta tenga un limitado efecto en los fundamentos
financieros y franquicia de Banorte, con base en su análisis de escenarios de los activos y capital pro forma
para las entidades combinadas. Ixe GF es pequeño en relación al GF Banorte, representando 16% del
capital del banco al 30 de junio de 2010.
"Las condiciones de la adquisición están por definirse todavía y serán tomadas en cuenta en la evaluación
de la calificación que haga Moody's al cierre, en caso de haberlo, de la negociación, y conforme se aclaren
los detalles de la estructura final de la transacción y su correspondiente financiamiento", señaló el analista
de Moody's Felipe Carvallo. Moody's indicó que continúa monitoreando los niveles de capitalización de
Banorte, que aún cuando son adecuados para su calificación individual de solidez financiera de bancos,
están por debajo de los de sus principales pares bancarios.
Moody's indicó que la adquisición, aun cuando es relativamente pequeña, podría fortalecer la presencia de
Banorte en el área metropolitana de la Ciudad de México, en donde se encuentran principalmente
enfocadas las operaciones de Ixe. Adicionalmente, la franquicia de Banorte podría beneficiarse con las
líneas de negocio complementarias y sinergias de costos en ciertos segmentos.
El 6 de agosto de 2010, Moody's afirmó la calificación de solidez financiera de bancos (BFSR por sus siglas
en inglés) de Banorte en C- y cambió la perspectiva de esta calificación a estable de negativa. Al mismo
tiempo, Moody's afirmó todas las demás calificaciones que tiene asignadas a Banorte.
Banorte tiene su sede en la Ciudad de México, México, y es la principal subsidiaria de GF Banorte que
reportó activos por $601,140 millones de pesos al 30 de junio de 2010. Ixe tiene su sede en la Ciudad de
México, México, y es la principal subsidiaria de Ixe GF que reportó activos por $97,995 millones de pesos al
30 de junio de 2010.
Mexico
Felipe Carvallo-Mendoza
Analyst
Financial Institutions Group
Moody's de Mexico S.A. de C.V
Telephone:+52-55-1253-5700
New York
M. Celina Vansetti
Senior Vice President
Financial Institutions Group
Moody's Investors Service