|Bid||51.28 x 1000|
|Ask||51.32 x 1200|
|Day's Range||50.80 - 51.37|
|52 Week Range||35.02 - 55.39|
|Beta (5Y Monthly)||1.61|
|PE Ratio (TTM)||116.34|
|Earnings Date||May 03, 2021|
|Forward Dividend & Yield||2.40 (4.68%)|
|Ex-Dividend Date||Feb 18, 2021|
|1y Target Est||57.27|
Rating Action: Moody's assigns first-time B1 long-term senior unsecured rating to MidCap's senior unsecured notesGlobal Credit Research - 19 Apr 2021New York, April 19, 2021 -- Moody's Investors Service ("Moody's") has assigned a first-time long-term corporate family rating (CFR) of Ba3 and a first-time long-term senior unsecured rating of B1 to MidCap Financial Issuer Trust (MidCap Financial), a wholly owned subsidiary of MidCap Finco Intermediate Holdings Limited (MidCap), a commercial lender managed by Apollo Global Management, Inc (Apollo). As of 31 December 2020, MidCap had approximately $8 billion in gross loans outstanding.Today's rating action follows MidCap's announcement that MidCap Financial would issue $825 million in senior unsecured notes maturing in 2028. The notes are guaranteed by MidCap.Assignments:..Issuer: MidCap Financial Issuer Trust....LT Corporate Family Rating, Assigned Ba3....Senior Unsecured Regular Bond/Debenture, Assigned B1Outlook Actions:..Issuer: MidCap Financial Issuer Trust....Outlook, Assigned StableRATINGS RATIONALEMidCap Financial's Ba3 CFR reflects its ba3 standalone assessment, which is supported by the firm's solid earnings profile stemming from a diversified investment portfolio, adequate capitalization, a history of low loan losses, and the capabilities and management expertise of Apollo.
(Bloomberg) -- Apollo Global Management Inc. and Toto Holding SpA may offer to buy control of Atlantia SpA’s Italian toll-road unit, La Stampa and other Italian newspapers reported Sunday.The U.S. investment firm and Italy’s Toto want to jump back into the running for control of Autostrade per l’Italia SpA following the move Friday by Spanish construction company Actividades de Construccion y Servicios SA to reaffirm its own interest in buying the unit, La Repubblica said, citing “financial sources.”Atlantia, whose biggest shareholder is the billionaire Benetton family, is selling its 88% stake in Autostrade following a deadly 2018 bridge collapse on a section of highway managed by the unit.An investor group led by Italian state-backed lender Cassa Depositi e Prestiti SpA has already made a revised offer for a controlling stake in Autostrade in an effort to seal a deal after months of acrimonious talks.Last September, Il Sole 24 Ore reported that Toto sent a letter to Atlantia expressing interest in its Autostrade stake, and that Toto would have to team up with a financial investor, possibly Apollo.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
(Bloomberg) -- Apollo Global Management Inc. is considering opening additional offices in Florida and elsewhere as it seeks to lure and retain talent in a world upended by the pandemic.The private equity firm is weighing outposts in Miami and West Palm Beach, as well as an office elsewhere in the U.S., and another in Europe, said spokeswoman Joanna Rose. Apollo, which will retain its New York headquarters, recently surveyed employees about where they prefer to work as part of a strategy to attract a broader talent pool, she said.Apollo, with 1,729 employees at year-end, has been gathering feedback over the past year as the pandemic forced companies to rethink how their employees work. Many are relocating or experimenting with more flexible work arrangements. Apollo is among those to test giving employees the option of working remotely two days a week.The pandemic has also prompted Wall Street firms to consider moving staff to locales with no state income taxes, such as Florida and Texas. This year, Goldman Sachs Group Inc. asked managers to identify employees who wish to relocate to West Palm Beach. Several hedge fund firms, including Elliott Management Corp., Citadel and Point72 Asset Management, announced plans to establish offices in Florida.New York’s wealthiest residents also face higher taxes after Governor Andrew Cuomo and state lawmakers struck a budget deal earlier this month. The combined top rate for the city’s top earners will be the highest in the U.S. BlackRock Inc. Chief Executive Officer Larry Fink said Thursday that he worries the higher tax burden may encourage people to relocate.Read more: Fink Frets Over NYC’s Future, Fearing an Exodus Over TaxesWhile Apollo’s employees may choose to go elsewhere, the firm has no plans to pull back from New York, Rose said.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.