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Sumitomo Corporation (SSUMY)

Other OTC - Other OTC Delayed Price. Currency in USD
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14.56-0.01 (-0.07%)
At close: 3:57PM EST
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  • Moody's

    West Deptford Energy Holdings, LLC -- Moody's downgrades West Deptford Energy Holdings, LLC to B1 from Ba3; Outlook is negative

    Rating Action: Moody's downgrades West Deptford Energy Holdings, LLC to B1 from Ba3; Outlook is negativeGlobal Credit Research - 26 Feb 2021New York, February 26, 2021 -- Moody's Investors Service, ("Moody's") downgraded West Deptford Energy Holdings, LLC's (WDE or the Borrower) senior secured credit facilities to B1 from Ba3. The debt facilities consist of a $445 million 7-year senior secured term loan due 2026 and a $55 million 5-year senior secured revolving credit facility due 2024. The outlook was changed to negative from stable.The Borrower owns the West Deptford Energy Station (the Project), a 744 MW gas-fired combined cycle electric generating facility located in West Deptford Township, New Jersey, which is in PJM Interconnection's EMAAC capacity pricing zone.RATINGS RATIONALEThe rating downgrade to B1 reflects the Project's weak financial performance in 2020; our expectation for performance to improve to 'B' level metrics in 2021; increased merchant exposure due to the expiration of the revenue put in December 2020; thin cushion relative to the credit agreement financial covenant ratio as of December 2020; and increasing refinancing risk.

  • Reuters

    Japanese shares gain tracking U.S. futures; tech and pharma stocks boost

    Japanese shares rose on Monday, erasing early losses, led by tech and pharma stocks as U.S. futures rose on hopes that lawmakers would soon pass a massive economic stimulus to revive growth in the world's largest economy. "U.S. markets moved irregularly last week but investors were relieved this morning after seeing the rise in U.S. futures," said Masahiro Ichikawa, chief market strategist, Sumitomo Mitsui DS Asset Management. Asian shares also rose as concerns over rising COVID-19 cases and delays in vaccine supplies were eclipsed by expectations of a $1.9 trillion fiscal stimulus plan to help revive the U.S. economy.

  • Reuters

    Japanese shares close little changed, trading firms extend gains

    Japanese stocks closed almost unchanged on Tuesday, as an extended rally in trading companies was offset by investors booking profits after a sharp rise in the last session. The broader Topix fell 0.15% to 1,615.81, with all but eight of 33 sectoral sub-indexes on the Tokyo exchange trading lower. Shares of trading firms extended a rally driven by the acquisition of a 5% stake by Warren Buffett's Berkshire Hathaway in each of Japan's five biggest trading houses.