At Trade With Beta , we also pay close attention to closed-end funds and are always keeping an eye on them for directional and arbitrage opportunities created by market price deviations. As you can guess, timing is crucial in these kinds of trades; therefore, you are welcome to join us for early access and the discussions accompanying these kinds of trades.In today's article, we will look in detail at National Storage Affiliates Trust ( NSA ), and we will try to give it a credit rating using Moody's methodo ...

Netflix, a company that built its business on junk bonds, is looking to borrow heavily again. The streaming company once known as “Debtflix,” before it started generating heavy cash flow, is looking to add tens of billions of dollars of debt to finance its planned $72 billion acquisition of most of Warner Bros. Discovery Inc. But Netflix Inc. has a stronger balance sheet than it did before the pandemic, which will probably allow the company to boost the price it pays in any bidding war that emerges, while r ...

Bloomberg Netflix, a company that built its business on junk bonds, is looking to borrow heavily again. The streaming company once known as “Debtflix,” before it started generating heavy cash flow, is looking to add tens of billions of dollars of debt to finance its planned $72 billion acquisition of most of Warner Bros. Discovery Inc. But Netflix Inc. has a stronger balance sheet than it did before the pandemic, which will probably allow the company to boost the price it pays in any bidding war that eme ...

Banco Comercial Português, S.A. informs about rating upgrades by Fitch Ratings Attachment 2025 11 28 Upgrade Fitch EN ...

The rating agency Moody’s Ratings affirmed Coop Pank’s Credit rating at current level with positive outlook. Long- and short-term deposit rating remained on the level of Baa2 and rating outlook remained positive. According to Paavo Truu, CFO of Coop Pank, the affirmation of the credit rating and positive outlook at the current level confirms that the bank is trustworthy with solid capital base, good profitability and high quality of the loan portfolio. “The affirmation of the rating and positive outlook gi ...

Core Insights - Oma Savings Bank Plc reported moderate results for Q3 2025 amid a challenging operating environment, with a focus on strengthening solvency [1][2][14] Financial Performance - The comparable profit before taxes for Q3 was EUR 16.1 million, down from EUR 27.6 million in the previous year, reflecting a decline in net interest income and increased operating expenses [4][16] - Net interest income decreased by 23.2% in Q3, totaling EUR 40.2 million, primarily due to a smaller loan portfolio and reduced market interest rates [6][17] - Total operating income for Q3 decreased by 17.2%, while total operating expenses increased by 19.3% year-on-year [17] - The cost/income ratio for Q3 was 51.1%, compared to 43.4% in the previous year, indicating increased operational costs [17] Loan and Deposit Portfolio - The mortgage loan portfolio decreased by 3.7%, and the corporate loan portfolio decreased by 17.9% year-on-year, attributed to divestments and a controlled winding down of high-risk customers [7][17] - The deposit portfolio saw a slight decrease of 0.7% over the past year, with fluctuations in corporate customer deposits impacting the overall balance [17] Risk Management and Compliance - The company is actively working on risk management and internal operating model development, with costs related to compliance initiatives recorded at EUR 1.7 million for Q3 [3][17] - Impairment losses on financial assets decreased by 23.8% in Q3, totaling EUR -10.1 million, although challenges remain in the SME sector due to economic conditions [7][17] Customer Satisfaction and Service Expansion - Oma Savings Bank maintains a strong customer-centric approach, ranking third in private customer satisfaction according to the latest EPSI Rating bank survey [9][10] - The bank expanded several branches to enhance accessibility and meet customer demand, reinforcing its commitment to personal banking services [8] Capital Position - The total capital ratio strengthened to 19.2% at the end of September, up from 15.6% the previous year, indicating a solid financial position [14][16] - The Common Equity Tier 1 (CET1) capital ratio reached 18.2%, exceeding the regulatory minimum by 8.9 percentage points [14] Outlook - The company has lowered its earnings guidance for 2025, anticipating continued high costs due to investments in risk management and quality processes [17][20] - The expected comparable profit before taxes for 2025 is projected to be between EUR 50-65 million, down from EUR 86.7 million in 2024 [20]

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Core Viewpoint - S&P Global Ratings has downgraded AFL's credit rating to A+/A-1 with a stable outlook, following a similar downgrade of France's sovereign credit rating, effective October 21, 2025 [2][4]. Group 1: Rating Changes - AFL's rating was revised from AA-/A-1+ (negative outlook) to A+/A-1 (stable outlook) [2]. - The downgrade of AFL's deeply subordinated notes intended to qualify as additional Tier 1 (AT1) capital was from A- to BBB+ [4]. Group 2: Business Model and Financial Position - AFL's rating is linked to the French sovereign due to its business model, which focuses exclusively on financing French local authorities [4]. - The bank's intrinsic credit profile remains unchanged at "aa-" and its financial position is solid [4]. - AFL has a robust business model, high liquidity, and prudent financial policies [7]. Group 3: Company Overview - AFL is the only French bank fully owned by local authorities, created to provide tailored financing for local investments while promoting sustainable finance practices [5]. - Since its launch in 2015, AFL has granted nearly €11.5 billion in loans, including €2 billion in 2024, and currently has 1,131 shareholders [5].

Core Points - KBRA affirms the senior unsecured debt rating of BBB for Farmers National Banc Corp. [1] - The subordinated debt rating is affirmed at BBB- and the short-term debt rating is K3 for Farmers National Banc Corp. [1] - For its subsidiary, The Farmers National Bank of Canfield, KBRA affirms the deposit and senior unsecured debt ratings of BBB+ [1] - The subordinated debt rating for the subsidiary is affirmed at BBB and the short-term deposit and debt ratings are K2 [1] - The Outlook for all ratings is stable [1]

Core Viewpoint - The shutdown of the U.S. government poses additional risks to the country's credit rating, which is already under threat of downgrade according to European rating agency Scope [1][2]. Group 1: Credit Rating Implications - Scope currently rates the U.S. at 'AA' with a 'negative outlook', indicating concerns over political polarization and its impact on creditworthiness [1]. - The unconventional policy approach of the current administration is seen as detrimental to the U.S. governance system's checks and balances, which negatively affects the sovereign rating [2]. Group 2: Political Risks - The risk of a U.S. default due to political disputes is increasing, although still considered unlikely; such an event would have significant repercussions [2]. - As political divisions deepen, the likelihood of reaching key policy compromises by debt limit deadlines diminishes [3]. Group 3: Fiscal Outlook - Despite a $5 trillion increase in the debt ceiling, further increases will likely be necessary by 2028 due to a weak fiscal outlook [4]. - Scope projects that the U.S. budget deficit will remain around 6%, with the debt-to-GDP ratio expected to rise to 127% over the next five years [4].