|Bid||37.73 x 900|
|Ask||38.13 x 900|
|Day's Range||37.48 - 38.14|
|52 Week Range||29.82 - 46.55|
|Beta (3Y Monthly)||1.55|
|PE Ratio (TTM)||34.96|
|Forward Dividend & Yield||0.25 (0.63%)|
|1y Target Est||N/A|
Moody's Investors Service ("Moody's") said that Teekay Corporation's (Teekay or Parent, B3 stable) plan to sell its remaining minority interests in Teekay Offshore Partners L.P. (TOO, B3 stable), one of its two master limited partnership (MLP) subsidiaries, for $100 million to Brookfield Business Partners LP is credit positive. Despite this credit profile enhancement, Teekay's ratings remain unchanged at this time, including the B2 rating on the new secured bond and B3 Corporate Family Rating.
In the company's second quarter earnings call Wednesday, Brian Stief, Johnson Controls' executive vice president and chief financial officer, said the net proceeds from the deal reached $11.6 billion, $200 million more than the company initially estimated.
The rebranded company will work hard to market itself as Clarios, referring to its former name and parent company for just a short time following Tuesday's sale closure.
Moody's Investors Service, ("Moody's") assigned a B2 rating to Teekay Corporation's ("Teekay" or "Parent") proposed senior secured notes due in 2024. Concurrently, Moody's affirmed Teekay's B3 Corporate Family Rating ("CFR") and SGL-3 Speculative Grade Liquidity rating, denoting adequate liquidity.
Moody's Investors Service ("Moody's") assigned ratings to BIFM CA Buyer Inc. ("BIFM"), consisting of a B3 corporate family rating (CFR), B3-PD probability of default rating, and B1 ratings to its proposed senior secured revolving credit facility and senior secured first lien term loan, with BIFM US Finance LLC as a co-borrower. BIFM is a newly formed acquisition vehicle by CCMP Capital Advisors LP (CCMP), a private equity firm, to acquire BGIS Group ("BGIS") from Brookfield Business Partners for about C$1.4 billion.
PLC, is poised sell roughly $3.7 billion worth of secured and unsecured bonds, denominated in both dollars and euros, along with around $6.5 billion in loans, also split between euro and U.S. dollar tranches. Banks this week were able to cut the expected yields on all of the bonds and loans, an indication that demand had well outstripped supply, investors said.
Moody's Investors Service ("Moody's") assigned initial ratings to Panther BF Aggregator 2 LP ("Power Solutions") - Corporate Family and Probability of Default Ratings at B1 and B1-PD, respectively, and Ba3 senior secured rating and a B3 senior unsecured rating. The rating outlook is stable.
Publicly traded REIT has signaled its plans to sell 824,000-square-foot headquarters campus in Cranberry Woods as Westinghouse now operates under new ownership.
Moody's Investors Service (Moody's) has today affirmed the B2 corporate family rating (CFR) and the B2-PD probability of default rating (PDR) to the Dutch returnable transit plastic packaging manufacturer Schoeller Allibert Group B.V. ("Schoeller Allibert" or the "company"). Concurrently, Moody's has affirmed the B2 rating to the outstanding E209.8 million senior secured notes due 2021 issued by Schoeller Allibert. The outlook on all ratings has been revised to negative from stable.
In an interview Tuesday afternoon, Johnson Controls chairman and CEO George Oliver said he expects Power Solutions to remain based in the current facility in Glendale both before and after the $13.2 billion sale closes.
Johnson Controls employs 2,600 people in the Milwaukee area, including 500 Power Solutions employees at the Glendale headquarters. Power Solutions is expected to remain based in Glendale following Tuesday's sale news, according to a company spokesman.
Moody's Investors Service assigned a B2 Corporate Family Rating (CFR) and a B2-PD Probability of Default Rating (PDR) to Brookfield WEC Holdings Inc. (Westinghouse Electric Company). At the same time, Moody's assigned a B2 rating to the proposed $2.6 billion first lien term loan and $200 million revolving credit facility, and a Caa1 rating to the $450 million second lien term loan.
Mid-caps stocks, like Brookfield Business Partners LP. (NYSE:BBU) with a market capitalization of US$5.23B, aren’t the focus of most investors who prefer to direct their investments towards either large-cap orRead More...