【资讯导读】 ·穆迪将美国主权信用评级从Aaa下调至Aa1 ·美国与欧盟启动贸易谈判旨在减轻特朗普关税政策的影响 ·特朗普在社交平台敦促美联储降息，严厉批评美联储主席鲍威尔行动迟缓，认为尽早降息对经济更有 利。 ·由于共和党内部成本分歧，特朗普税收法案未能通过众议院小组委员会审议，强硬保守派寻求进一步 削减医疗补助。 ·美联储计划未来几年裁员10%，并提供年长员工延迟辞职选项。马斯克此前曾称美联储"人员臃肿得离 谱"。 ·亚特兰大联储主席博斯蒂克预计2025年可能进行一次降息，今年经济增长或在0.5%至1%之间，但不会 陷入衰退。 ·3月日本增持美国国债至11308亿美元，中国减持至7654亿美元。英国增持至7793亿美元，成为第二大 持有国。海外净流入美国证券和银行现金流总额为2543亿美元。 ·欧洲央行管委温施指出，可能需将利率下调至2%以下以应对增长和通胀的下行风险。 ·特朗普在社交平台敦促美联储降息批评鲍威尔行动迟缓 ·特朗普税收法案未能通过众议院小组委员会审议 【市场资讯】 ·国际信用评级机构穆迪将美国主权信用评级从Aaa下调至Aa1，因债务和利率支付比例增加，并将展望 调整为"稳定"。至此，美国被 ...

现在回旋镖打在了自己身上…… 那为什么会被下调呢？ 穆迪给出的原因是"美国政府债务和利率支付比例增加"，说的很直白： 1、财政赤字增加 近年来，美国每年的财政赤字接近2万亿美元， 名义债务已突破36万亿美元，占GDP的比例超过6%。 先说第一件事情，美国已被三大评级机构全部降级。 穆迪宣布 决定将美国主权信用评级从Aaa下调至Aa1，展望从负面转为稳定。 也就是说，最后一家评级巨头也剥夺美国AAA评级了。 国际三大信用评级机构有标普、惠誉和穆迪： 早在2011年， 标普 就将美国长期主权信用评级由AAA降至AA+，当时还受到了美国财政部的严厉批评。 2023年8月， 惠誉 也取消了美国的AAA评级，并预计，美国财政状况将趋于恶化，联邦政府债务高居不下且不断攀升。 现在， 穆迪 也剥夺了美国AAA评级，主要就是因为美国政府的债务问题。川普政府赶紧就批评了这一决定，并指责穆迪缺乏声誉。 有意思的是，2012年川普发过一条推文，推预测美国将要被再次下调信用评级。当时他想要阴阳一下当时的美国总统奥巴马。 穆迪预计，到2035年，债务负担将上升至GDP的约134%。 3、关税战导致经济走弱，偿债能力变弱 现在川普发起关 ...

Core Viewpoint - The cancellation of mandatory credit ratings in China's bond market has led to a significant shift in the operations of credit rating agencies, with a notable increase in the number of issuer ratings compared to bond ratings, indicating a market-driven approach to credit assessment [1][2][5]. Group 1: Changes in Credit Rating Practices - Since the removal of mandatory ratings, the number of issuer ratings has increased significantly, with 2,787 issuer ratings in Q4 2023, a 64.81% year-on-year increase, surpassing the 2,744 bond products rated in the same period [1]. - In 2023, the total number of issuer ratings reached 10,707, which is on par with the number of bond ratings, indicating a shift in focus towards issuer assessments [1]. - The number of bonds rated without a bond rating has risen sharply, with 15,944 such bonds issued in 2024, accounting for 63.74% of the total, compared to 5,768 bonds (59.85%) in 2021 [4]. Group 2: Cost Implications for Issuers - Despite the removal of mandatory ratings, issuers have not seen a significant reduction in rating costs, as investors still require credit ratings for compliance purposes [2]. - Rating agencies have adjusted their fee structures, leading to higher overall costs for issuers, particularly for those with longer-term bonds that require annual issuer rating fees [7]. Group 3: Market Dynamics and Rating Agency Operations - The shift towards issuer ratings has resulted in a "reverse" situation where the number of issuer ratings exceeds that of bond ratings for several major rating agencies [5][6]. - Major rating agencies have reported varying numbers of issuer and bond ratings, with some agencies issuing significantly more issuer ratings than bond ratings, reflecting the changing market demand [6][7]. - The trend of bundling ratings for multiple entities under a single issuer has emerged, allowing agencies to charge higher fees and potentially inflate issuer ratings [2][9]. Group 4: Regulatory and Structural Changes - The regulatory environment is evolving, with the China Interbank Market Dealers Association encouraging issuers to select multiple rating agencies to enhance the credibility of ratings through cross-verification [8]. - As of the end of 2024, 965 issuers had received ratings from two or more agencies, with a 6.42% inconsistency rate in ratings, indicating ongoing challenges in rating standardization [9]. Group 5: Future Directions for Rating Agencies - Leading rating agencies are focusing on expanding their international business and investor services, enhancing their influence in global markets and providing consulting services to investors [10].

TORONTO, May 15, 2025 (GLOBE NEWSWIRE) -- Base Carbon Inc. (Cboe CA: BCBN) (OTCQX: BCBNF) with operations through its wholly-owned subsidiary, Base Carbon Capital Partners Corp. ("BCCPC", together, with affiliates, "Base Carbon", or the "Company"), is pleased to announce its first-quarter 2025 consolidated financial results and operational highlights. The Company will host an investor update call on Tuesday, May 27 at 11:00 a.m. Eastern Time, with registration instructions provided below. All financial refe ...

COFACE SA: Combined Shareholders’ General Meeting of 14 May 2025 approved all the proposed resolutions Paris, 14 May 2025 – 17.45 The Combined Shareholders’ General Meeting of COFACE SA was held on 14 May 2025 at the Company’s headquarters in Bois-Colombes, and it was chaired by Mr Bernardo Sanchez Incera, Chairman of the Board of Directors. All the proposed resolutions were adopted by COFACE SA’s shareholders, including the payment of a dividend of €1.40 per share for the 2024 financial year with the coupo ...

Core Points - The Combined Shareholders' General Meeting of COFACE SA was held on 14 May 2025, where all proposed resolutions were approved [1][2] - A dividend of €1.40 per share for the 2024 financial year was approved, with the coupon date set for 20 May 2025 and the payment date for 22 May 2025 [2] Company Overview - COFACE SA is a global leader in trade credit risk management, providing services to approximately 100,000 clients across around 200 markets [6] - In 2024, COFACE employed approximately 5,236 people and reported a turnover of €1.84 billion [7] Financial Calendar - The financial calendar for COFACE SA includes the H1-2025 results scheduled for 31 July 2025 and the 9M-2025 results on 3 November 2025 [3]

Core Viewpoint - Carbon Streaming Corporation has made significant strides in cost reduction and financial sustainability in Q1 2025, while exploring strategic alternatives to enhance shareholder value despite challenging market conditions [2]. Financial Highlights - The company reported a net gain of $49 thousand on the revaluation of carbon credit streaming and royalty agreements, a significant improvement from a net loss of $33.1 million in Q1 2024 [4][6]. - Operating loss for Q1 2025 was $1.4 million, down from $36.6 million in the same period last year [5][6]. - The net loss for the quarter was $0.8 million, compared to a net loss of $35.8 million in Q1 2024 [5][6]. - Cash at the end of the quarter stood at $36.4 million, with no corporate debt [5][6]. - The company reduced the number of full-time employees from 24 at the start of 2024 to just 3 by May 2025, leading to substantial savings in operating expenses [5][6]. Portfolio Updates - The Nalgonda Rice Farming Stream project was registered with Verra on February 10, 2025, after overcoming delays related to methodology reviews [7]. - The Sheep Creek Reforestation Stream project has faced significant challenges, including higher than expected mortality rates and slower growth, leading to a potential loss of anticipated carbon credits [9][11]. - The Baccala Ranch Reforestation Stream was terminated by Mast, confirming no further plantings will occur [12]. Strategic Focus - The company is prioritizing maximizing value from its existing portfolio while evaluating potential acquisitions, divestments, and strategic partnerships [2][14]. - Ongoing corporate restructuring efforts have led to reduced operating expenses and streamlined decision-making processes [16]. - The company aims to optimize cash flow generation through the sale of carbon credits from its streaming agreements, despite uncertainties in the carbon market [17].

Financial Data and Key Metrics Changes - For the quarter ended March 31, GAAP and core net investment income was 18¢ per share, with total distributions of 24¢ per share [14][18] - As of March 31, the adjusted NAV was $7.48 per share, down 1.2% from $7.57 per share in the prior quarter [18] - The debt to equity ratio was 1.28 times, indicating a diversified capital structure across multiple funding sources [19] Business Line Data and Key Metrics Changes - During the quarter, the company invested $177 million in three new and 52 existing portfolio companies at a weighted average yield of 10.7% [15] - The joint venture (JV) portfolio grew to $1.4 billion, with the JV investing $170 million at a weighted average yield of 10.1% [15][16] - The portfolio consisted of 46% first lien secured debt, 2% second lien secured debt, 13% subordinated notes, 7% other subordinated debt, 7% equity in PSLF, and 25% in other preferred and common equity [20] Market Data and Key Metrics Changes - Approximately 80% of originations came from existing borrowers, with 20% from new platform investments [6] - The weighted average debt to EBITDA for new portfolio company investments was 3.9 times, with a weighted average interest coverage of 2.3 times [8] - The market yield on first lien term loans stabilized in the range of plus 500 to 550 basis points for high-quality assets [8] Company Strategy and Development Direction - The company aims to generate attractive risk-adjusted returns through income while preserving capital, focusing on growing middle market companies with high free cash flow conversion [17] - The strategy includes rotating out of larger equity positions and redeploying that capital into interest-paying debt investments to increase core net investment income [14] - The company remains selective in pursuing new investments, emphasizing rigorous underwriting and maintaining a conservative orientation [10][11] Management's Comments on Operating Environment and Future Outlook - Management noted that despite market volatility, the company had a solid quarter and expects originations to remain concentrated among existing portfolio companies [6][7] - The management expressed optimism about the upcoming vintage of loans, indicating that market volatility creates opportunities [8] - The company is closely monitoring the potential impact of tariffs across the portfolio, reporting limited exposure [9] Other Important Information - The company has a significant balance of spillover income, amounting to $58 million or 88¢ per share, which will be used to cover any shortfall in core net investment income versus dividends [15] - The credit quality of the portfolio remains strong, with three nonaccruals representing 1.6% of the portfolio at cost and 0.4% at market value as of March 31 [19] Q&A Session Summary Question: How would you characterize the current pipeline for new investments? - Management indicated that M&A deals impacted by tariffs were delayed, but there has been modest activity since April, with a growing pipeline expected for the rest of the year [24][25] Question: How much of the lower level of new deals was due to stricter underwriting? - Management stated that tariff-impacted deals are not being pursued, while the majority of their focus remains on existing borrowers in sectors not significantly affected by tariffs [28][50] Question: Can you discuss the exposure to government reimbursement and health care? - Management highlighted that the defense budget is expected to increase significantly, aligning well with their portfolio, and noted that their health care investments are performing well due to lower leverage compared to peers [39][44]

Core Viewpoint - Wall Street has experienced a strong recovery due to easing trade tensions, particularly the U.S.-China trade truce and the U.S.-UK deal, which has fostered optimism in the stock market. However, uncertainties regarding Trump and Fed policies persist, making dividend investing an attractive option for consistent income [1]. Dividend Growth Strategy - Dividend investing provides a reliable income source, especially when focusing on stocks with a strong history of year-over-year dividend growth, which can lead to higher returns compared to simple dividend-paying stocks [2][4]. - Stocks with a solid history of dividend growth are typically mature companies, offering protection against market volatility and economic uncertainty while providing consistent payout increases [4][5]. Selection of Dividend Growth Stocks - Three dividend growth stocks identified as compelling picks are Qifu Technology Inc. (QFIN), The TJX Companies Inc. (TJX), and UGI Corporation (UGI) [3]. - Qifu Technology, a credit-tech platform in China, has an estimated earnings growth rate of 22.4% for the year and an average earnings surprise of 14.46% over the last four quarters, with a Zacks Rank of 1 and a Growth Score of B [10]. - TJX Companies, a leading off-price retailer, has an estimated earnings growth rate of 3.99% for the fiscal year ending January 2026 and an average earnings surprise of 5.47% in the past four quarters, holding a Zacks Rank of 2 and a Growth Score of A [11]. - UGI Corporation, a holding company in the energy sector, has seen a positive earnings estimate revision of 3 cents for the fiscal year ending September 2025, with a Zacks Rank of 2 and a Growth Score of B [12][13]. Investment Criteria - The selection criteria for dividend growth stocks include a 5-Year Historical Dividend Growth greater than zero, 5-Year Historical Sales Growth greater than zero, and 5-Year Historical EPS Growth greater than zero, indicating solid growth in dividends, revenues, and earnings [6][7]. - Additional criteria include a Price/Cash Flow ratio less than the industry average, a 52-Week Price Change greater than the S&P 500, and a top Zacks Rank, which collectively narrow down the stock universe to high-potential candidates [8][9].

FORT LAUDERDALE, Fla., May 13, 2025 (GLOBE NEWSWIRE) -- via IBN -- FAVO Capital, Inc. (OTC: FAVO), a publicly traded private credit firm specializing in merchant cash advances (MCAs) and revenue-based financing for underserved small and medium-sized businesses (SMBs), today announced the voluntary conversion of all outstanding Super Voting Series C Preferred Shares into common stock. The corporate governance action simplifies the Company’s capital structure and aligns voting rights more closely with public ...