18.09 0.00 (0.00%)
After hours: 4:17PM EDT
|Bid||18.09 x 800|
|Ask||18.10 x 800|
|Day's Range||18.08 - 18.51|
|52 Week Range||11.99 - 18.73|
|Beta (3Y Monthly)||0.89|
|PE Ratio (TTM)||5.79|
|Forward Dividend & Yield||0.22 (1.18%)|
|1y Target Est||20.13|
Moody's Investors Service ("Moody's") has assigned a B2 rating to Pampa Energía S.A.'s ("Pampa") proposed senior unsecured notes. The rating of the proposed notes assumes that the final transaction documents will not be materially different from draft legal documentation reviewed by Moody's to date and assume that these agreements are legally valid, binding and enforceable.
It could be time for emerging market debt to shine. Bonds from countries with emerging economies could see a banner second half of 2019 if the U.S. dollar stays weaker, as many anticipate, and investors turn away from trillions worth of sovereign debt offering negative yields. Last year was tough for emerging markets, when a resilient dollar made it more costly for many foreign countries and corporations to service their debts, after years of borrowing in U.S. dollars.
(Bloomberg) -- YPF SA, Argentina’s biggest oil company, sold overseas bonds for the first time in more than a year after a plunge in borrowing costs opened a window of opportunity.The driller issued $500 million of 10-year, dollar-denominated notes to yield 8.75%, according to people familiar with the offer, who asked not to be identified because the information is private. Proceeds from the sale, which was managed by Citigroup Inc., HSBC Holdings Plc and Itau Unibanco Holding SA, will go toward working capital and refinancing existing debt. The bonds were initially marketed to yield a bit above 9%.YPF has seen yields on benchmark securities due in 2025 plunge by more than 2 percentage points since late April to 8.67% as Argentine bonds rallied after President Mauricio Macri’s choice of a running mate boosted his outlook for October elections. While state-owned YPF is traditionally among the country’s biggest corporate borrowers, it hadn’t issued in international markets since 2017 as an economic slowdown and a currency crisis sapped investor confidence.The oil producer has also taken steps to improve its balance sheet, reducing its ratio of net debt to a measure of earnings to around 2.5 times, down about 60% since 2016.A spokesman for YPF declined to comment on the sale.YPF is the largest investor in the Vaca Muerta shale field. Covering an area the size of Belgium, it has become one of the world’s top shale plays and is considered key to restoring energy self-sufficiency in Argentina.The sale took place the same day the U.S. Supreme Court published a decision to allow a shareholder lawsuit over YPF’s 2012 nationalization to go forward. Petersen Energia Inversora SAU, which held a 25% stake in YPF at the time of the takeover, says that company breached a contractual promise in its bylaws to make a tender offer to shareholders.“The timing is a little odd since everyone knew the U.S. Supreme Court decision was coming,” said Roger Horn, a senior emerging-markets strategist at SMBC Nikko Securities America in New York. “But one take is that management has confidence in its capital expenditure plans.”To contact the reporters on this story: Pablo Gonzalez in Sao Paulo at firstname.lastname@example.org;Rizal Tupaz in New York at email@example.comTo contact the editors responsible for this story: Nikolaj Gammeltoft at firstname.lastname@example.org, Brendan Walsh, Carolina MillanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Moody's Investors Service ("Moody's") has assigned a B2 rating to YPF Sociedad Anonima's ("YPF") proposed senior unsecured notes due 2029. The rating of the proposed notes assumes that the final transaction documents will not be materially different from draft legal documentation reviewed by Moody's to date and assume that these agreements are legally valid, binding and enforceable. The ratings are mainly constrained by YPF's concentration of operations in Argentina, a moderate-to-high foreign-currency risk given that most of the company's debt is denominated in foreign currency, its portfolio of majority mature producing fields and its rigid labor cost structure.
Power returned to much of Argentina and two neighboring countries following a massive blackout that left tens of millions in the dark on Sunday, but Argentine President Mauricio Macri said the cause of the "unprecedented" outage was still unclear. Argentina's grid "collapsed" around 7 a.m. (1100 GMT), leaving the entire country without power, Argentina's Energy Secretariat said. The outage also cut electricity to much of neighboring Uruguay and swaths of Paraguay, and shut down YPF SA's La Plata refinery, Argentina's largest.
With the first-quarter round of 13F filings behind us it is time to take a look at the stocks in which some of the best money managers in the world preferred to invest or sell heading into the first quarter. One of these stocks was YPF Sociedad Anonima (NYSE:YPF). YPF Sociedad Anonima (NYSE:YPF) was in […]
Argentine oil company YPF SA said on Sunday that it began loading the first shipment of liquefied natural gas (LNG) for export from Argentina. The shipment includes 30,000 cubic metres of LNG from the Vaca Muerta shale play, YPF said in a statement. "This is the first step of a process that YPF is leading to export and expand gas markets to the world," Marcos Browne, executive vice president of gas and electric power for YPF, said in the statement.
For the fiscal third quarter, Telenav (TNAV) expects total revenues between $49 million and $53 million, while net loss is anticipated to be $7 million-$9 million.
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Moody's Latin America Agente de Calificación de Riesgo S.A. ("Moody's") has assigned today a B2 Global Scale rating and an A1.ar National Scale Corporate Family Rating to YPF Energía Eléctrica S.A. (YPFEE) with a stable outlook. NSRs are designated by a ".nn" country modifier signifying the relevant country, as in ".za" for South Africa.
One-time charges, high capex and interest payment obligations associated with huge debt burden may limit Petrobras' (PBR) Q1 profits and cash flows.
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The Insider Monkey team has completed processing the quarterly 13F filings for the December quarter submitted by the hedge funds and other money managers included in our extensive database. Most hedge fund investors endured a torrid quarter, which certainly propelled them to adjust their equity holdings so as to maintain the desired risk profile. As […]
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