Maria Acevedo, Author at ׶Ƶ Know More. Risk Better.® Mon, 31 Jul 2023 20:16:47 +0000 en-US hourly 1 /wp-content/uploads/cropped-favicon-512x512-1-32x32.png Maria Acevedo, Author at ׶Ƶ 32 32 NiSource touts premium valuation in sale of Ind. utility stake to Blackstone https://www.capitaliq.spglobal.com/web/client?auth=inherit#news/article?Id=76243288&KeyProductLinkType=2#new_tab Mon, 19 Jun 2023 14:55:59 +0000 /?p=13323 ׶Ƶ analysts agreed that NiSource’s minority interest sale “compares favorably” to similar vertically integrated utility stake sales and is a “credit-positive deal” with proceeds going toward capex funding and the...

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]]> ׶Ƶ analysts agreed that NiSource’s minority interest sale “compares favorably” to similar vertically integrated utility stake sales and is a “credit-positive deal” with proceeds going toward capex funding and the balance sheet.

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]]> Berkshire unit fire suit heads toward multibillion-dollar finale https://www.bloomberg.com/news/articles/2023-06-14/berkshire-energy-unit-hit-with-punitive-damage-for-oregon-fires#new_tab Wed, 14 Jun 2023 14:54:22 +0000 /?p=13321 ׶Ƶ utility analyst Andy DeVries said in a June 12 research note that a maximum payout of $1.6 billion projected by the PacifiCorp plaintiffs’ lawyers before the trial would be...

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]]> ׶Ƶ utility analyst Andy DeVries said in a June 12 research note that a maximum payout of $1.6 billion projected by the PacifiCorp plaintiffs’ lawyers before the trial would be a “fairly large hit” to the company’s funds from operations to total debt ratio, “but still manageable.”
He said in an interview that the company’s loss in court may encourage more lawsuits. “You see this huge multibillion headline and people start wanting a piece of that pie,” he said.

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]]> WeQuit: WeWork bonds sink after top executives resign from cash-burning company https://www.marketwatch.com/story/wequit-wework-bonds-sink-after-top-executives-resign-from-cash-burning-company-77369859?mod=mw_latestnews#new_tab Fri, 02 Jun 2023 15:20:59 +0000 /?p=13151 “It was an outrageously complex transaction,” said Evan DuFaux, a special situations analyst at ׶Ƶ. But he also called it “effectively a prepackaged bankruptcy, with senior creditors taking control of...

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]]> “It was an outrageously complex transaction,” said Evan DuFaux, a special situations analyst at ׶Ƶ. But he also called it “effectively a prepackaged bankruptcy, with senior creditors taking control of the company from SoftBank.”

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]]> Vedanta: Mining giant Glencore lends $250 million to rival Vedanta Resources https://www.business-standard.com/companies/news/mining-giant-glencore-lends-250-million-to-rival-vedanta-resources-123053000346_1.html#new_tab Tue, 30 May 2023 15:18:56 +0000 /?p=13149 Calling Glencore’s debt investment as “eleventh-hour reprieve”, analysts say the group will be able to tide over the ongoing crisis. “We remain aware of refinancing risk on VRL’s $4.1-billion debts...

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]]> Calling Glencore’s debt investment as “eleventh-hour reprieve”, analysts say the group will be able to tide over the ongoing crisis. “We remain aware of refinancing risk on VRL’s $4.1-billion debts due in FY24, for which VRL will likely have to rely heavily on external fundraising for a $2.1-billion refinancing and an additional $950 million to plug a funding gap. At this point, we would still lean towards VRL being successful at tying up its $2.1-billion fundraising, given VRL’s recent debt reductions, fresh fundraising efforts and that we think various alternative funding channels remain open for VRL like share pledges and some dividend upstreaming,” said Lakshmanan, a senior analyst with ׶Ƶ.

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]]> There were runs on banks, not on insurers. Here’s why. https://www.wsj.com/articles/there-were-runs-on-banks-not-on-insurers-heres-why-c9eea5f0?mod=Searchresults_pos1&page=1#new_tab Tue, 30 May 2023 15:16:23 +0000 /?p=13147 “The risk of a run on a leading life insurer is remote,” said Josh Esterov of research-firm ׶Ƶ.

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]]> “The risk of a run on a leading life insurer is remote,” said Josh Esterov of research-firm ׶Ƶ.

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]]> Dish’s Charlie Ergen flew to Dubai to fundraise for satellite TV giant, source says https://nypost.com/2023/05/18/dishs-charlie-ergen-flew-to-dubai-to-raise-cash-for-satellite-tv-giant-source/#new_tab Thu, 18 May 2023 15:12:21 +0000 /?p=12968 With DISH needing additional capital and debt maturities next year, we need to see a major step change in the level of cash burn to get comfortable with the wireless...

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]]> With DISH needing additional capital and debt maturities next year, we need to see a major step change in the level of cash burn to get comfortable with the wireless side of the business,” ׶Ƶ senior analyst David Herbert wrote following the earnings call.

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]]> Why muni mutual fund and ETF flows are diverging https://www.bloomberg.com/news/videos/2023-05-17/why-muni-mutual-fund-and-etf-flows-are-diverging-video#new_tab Wed, 17 May 2023 15:10:42 +0000 /?p=12966 Pat Luby, ׶Ƶ senior municipal strategist, discusses the divergence between muni mutual funds and muni ETF flows with Vonnie Quinn and Romaine Bostick on “Bloomberg Markets: The Close.”

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]]> Pat Luby, ׶Ƶ senior municipal strategist, discusses the divergence between muni mutual funds and muni ETF flows with Vonnie Quinn and Romaine Bostick on “Bloomberg Markets: The Close.”

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]]> Elliott’s back for blood, but this time is harder https://www.bloomberg.com/opinion/articles/2023-05-16/elliott-investment-s-back-for-blood-at-nrg-energy-but-this-time-is-harder?sref=kOk687Pk#new_tab Tue, 16 May 2023 15:07:35 +0000 /?p=12964 Above all, NRG diverted cash that could have been paid out to shareholders to instead pay a huge multiple for Vivint: 33 times expected free cash flow in 2023, according...

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]]> Above all, NRG diverted cash that could have been paid out to shareholders to instead pay a huge multiple for Vivint: 33 times expected free cash flow in 2023, according to ׶Ƶ.

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]]> NM supreme court rejects request to return PNM-Avangrid merger to regulators https://www.capitaliq.spglobal.com/web/client?auth=inherit#news/article?id=75764671&KeyProductLinkType=19#new_tab Tue, 16 May 2023 15:06:23 +0000 /?p=12961 Analysts at ׶Ƶ said May 15 that the decision was a “clear setback but not a final blow to a deal going through.” They noted that the “consensus has been...

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]]> Analysts at ׶Ƶ said May 15 that the decision was a “clear setback but not a final blow to a deal going through.” They noted that the “consensus has been that the newly appointed NM commission is more likely to approve the merger.”
“In the near term, we still see enough positives at [Avangrid] as a stand-alone entity (including a strong balance sheet) if the PNM deal falls through,” the ׶Ƶ analysts said. But “this lost regulated earnings boost becomes more of a concern as [Avangrid] continues ramping up its non-utility renewables/offshore wind business.”

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]]> Pfizer borrows $31 billion in mega bond deal as debt issuance picks up ahead of debt-ceiling deadline https://www.marketwatch.com/story/pfizer-borrows-31-billion-in-mega-bond-deal-as-debt-issuance-picks-up-ahead-of-debt-ceiling-deadline-a1a464b0#new_tab Tue, 16 May 2023 14:34:13 +0000 /?p=12952 Bankers initially pitched the bonds to investors at a range of Treasurys plus 145 basis points, according to ׶Ƶ. Lower spreads mean investors receive less compensation.

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]]> Bankers initially pitched the bonds to investors at a range of Treasurys plus 145 basis points, according to ׶Ƶ. Lower spreads mean investors receive less compensation.

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