Fitch affirms US credit rating at ’AA+’ with stable outlook Investing.com -- Fitch Ratings has affirmed the United States’ Long-Term Foreign Currency Issuer Default Rating at ’AA+’ with a Stable Outlook, citing the country’s large economy and the dollar’s role as the global reserve currency. The rating agency noted that while the US benefits from its dynamic business environment and exceptional financing flexibility, high fiscal deficits and rising government debt levels constrain the rating. US government debt is more than double the ’AA’ rating median. Fitch forecasts the general government deficit will narrow to 6.9% of GDP in 2025 from 7.7% in 2024, driven by increased revenues. Federal government revenues are rising due to economic growth, stock market performance, and surging tariff revenues. With the effective tariff rate increasing to an estimated 16% as of August from 2.3% at the end of 2024, tariff revenues are expected to reach $250 billion this year. The Trump administration has begun implementing its agenda through tax cuts, higher tariffs, increased deportation of illegal immigrants, and reduced federal regulations. The One Big Beautiful Bill Act, passed in July, extends most provisions of the 2017 Tax Cuts and Jobs Act and expands various tax deductions. Fitch projects the government debt-to-GDP ratio will continue rising, reaching 124% by the end of 2027, up from 114.5% at the end of 2024. Despite this trajectory, the US government maintains strong financing flexibility due to the dollar’s dominant position in global reserves. The rating agency forecasts US economic growth to slow to 1.5% in 2025 from 2.8% in 2024, citing higher tariffs, government spending cuts, tighter border controls, and policy uncertainties that have weakened consumer spending and business investment. 3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads. Fitch anticipates one 25-basis-point interest rate cut this year, followed by three cuts in 2026, as the Federal Reserve remains cautious due to inflationary pressures from tariff hikes. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. Which stocks should you consider in your very next trade? Successful investors know to check multiple angles before making their move. InvestingPro's three powerful features work together to give you that edge: ProPicks AI runs 80+ stock-picking strategies, including Tech Titans, which doubled the S&P 500's performance in just 18 months! Fair Value combines 17 proven valuation models to help you spot overpriced stocks and undervalued gems. And WarrenAI delivers instant insights on any stock. Ask questions, get vetted answers backed by real-time data (unlike ChatGPT). Our subscribers use all three to identify stocks before double-digit gains and avoid costly mistakes. But with 50% during our Summer Sale, even if you only use one of these features the value pays for itself. Sale ends soon—don't wait until prices go back up.

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Sunoco’s ratings confirmed by Moody’s, outlook changed to stable Investing.com -- Moody’s Ratings has confirmed Sunoco LP’s Ba1 corporate family rating, Ba1-PD probability of default rating, and Ba1 senior unsecured notes rating, while changing the outlook to stable from ratings under review. The confirmation concludes the review for downgrade that began on May 5, 2025. Sunoco’s speculative grade liquidity rating remains unchanged at SGL-2. Moody’s noted that Sunoco’s Ba1 rating benefits from its investment grade scale, large operating footprint, and contracted pipeline and storage earnings that provide diversification to its wholesale fuel distribution business. The pending $9.3 billion acquisition of Calgary-based Parkland Corporation expands Sunoco’s wholesale distribution operations into Canada and the Caribbean. The deal received approval from Parkland’s shareholders in June and awaits Canadian regulatory approvals, expected in the fourth quarter of 2025. Post-acquisition, Sunoco will become one of North America’s largest motor fuel distributors. However, the rating is constrained by elevated debt leverage and exposure to fuel volume risk, which makes the company vulnerable to market demand shifts and long-term decline in fuel consumption. Sunoco’s debt/EBITDA ratio of 4.7x (including Moody’s standard adjustments and pro forma for the acquisition) exceeds the 4.5x downgrade threshold. The company has identified synergies through cost reductions and commercial opportunities that should reduce leverage to 4.4x by year-end 2026, with further deleveraging likely in 2027. Moody’s expects Sunoco to remain acquisitive, particularly for logistics assets supporting its distribution business, while adhering to its long-term leverage target of 4x. The company maintains good liquidity with a fully undrawn $1.5 billion unsecured revolving credit facility as of March 31, 2025. Upcoming debt maturities include $500 million notes due in June 2026 and a $550 million issue in 2027. The Parkland acquisition is expected to be funded with a mix of long-term debt, preferred and common equity issuance. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. With valuations skyrocketing in 2024, many investors are uneasy putting more money into stocks. Sure, there are always opportunities in the stock market – but finding them feels more difficult now than a year ago. Unsure where to invest next? One of the best ways to discover new high-potential opportunities is to look at the top performing portfolios this year. ProPicks AI offers 6 model portfolios from Investing.com which identify the best stocks for investors to buy right now. For example, ProPicks AI found 9 overlooked stocks that jumped over 25% this year alone. The new stocks that made the monthly cut could yield enormous returns in the coming years. Is SUN one of them?

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Moody’s affirms Ayvens’ A1 rating, changes outlook to stable Investing.com -- Moody’s Ratings has affirmed Ayvens’ long-term issuer and senior unsecured debt ratings at A1 and changed the outlook to stable from negative, the rating agency announced Friday. The action follows the recent affirmation of Societe Generale (OTC:SCGLY)’s ratings and its outlook change to stable from negative on July 24. Moody’s also affirmed Ayvens’ short-term issuer ratings at Prime-1 and its senior unsecured Medium-Term Note programme at (P)A1. For Ayvens Bank N.V., Moody’s affirmed long-term deposit, issuer and senior unsecured debt ratings at A1 and short-term deposit ratings at Prime-1, while changing the outlook to stable from negative. The rating agency explained that Ayvens’ ratings are largely driven by Societe Generale’s ratings due to the "very high probability of extraordinary support" from the majority shareholder, which holds a 53% stake in Ayvens and considers it strategically important to its mobility business activities. Ayvens’ A1 long-term issuer and senior unsecured debt ratings reflect its baseline credit assessment (BCA) of baa3, affiliate support from Societe Generale resulting in an adjusted BCA of baa2, three notches of uplift under Moody’s Advanced Loss Given Failure analysis, and one notch of further uplift due to moderate probability of support from the French government. The stable outlook reflects both Societe Generale’s stable outlook and Moody’s expectation of a stable standalone credit profile at Ayvens. Moody’s indicated that Ayvens’ BCA could be upgraded if operational risks linked to LeasePlan integration decreased and if prospects of high residual value risk in evolving mobility technologies improved, leading to sustainably higher profitability. Conversely, the BCA could face downgrade pressure if Ayvens fails to manage residual value risks adequately, experiences deterioration in funding and liquidity profiles, or suffers structural profitability decline. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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Shell affirmed at ’AA-’ by Fitch with stable outlook Investing.com -- Fitch Ratings has affirmed Shell Plc’s Long-Term Issuer Default Rating at ’AA-’ with a Stable Outlook and assigned it a Short-Term IDR of ’F1+’ on Thursday. The rating agency also assigned ’F1+’ short-term ratings to Shell’s $10 billion global commercial paper program and $10 billion US commercial paper program issued by Shell and Shell International Finance BV. Fitch stated that Shell’s rating reflects its large scale of global operations, broad business model across energy and petrochemicals markets, large hydrocarbon reserves, and low leverage. The company’s management is working to strengthen its portfolio while preparing for energy transition changes. Shell’s business profile is supported by upstream production of 2.56 million barrels of oil equivalent per day, excluding joint ventures and affiliates. The company benefits from integration across the value chain and holds a leading position in LNG. Fitch expects Shell’s EBITDA net leverage to increase to around 0.5x by 2027 from 0.2x at the end of 2024, based on its price assumptions for oil and gas. This projection includes shareholder distributions at 50% of cash flow from operations for 2025 and 45% for subsequent years. At its capital markets day in March 2025, Shell increased its target range for shareholder distributions to 40-50% of cash flow from operations. The company has indicated it may use debt capacity or divestments to support shareholder returns during periods of lower hydrocarbon prices. Shell’s updated strategy focuses on value creation of more than 10% organic free cash flow per share annually through 2030. The company plans disciplined capital allocation across upstream ($12-14 billion yearly) and downstream and renewables (around $8 billion yearly). Fitch noted that Shell has invested in key energy transition technologies including carbon capture, renewable hydrogen, biofuels, renewable power, and electric charging. However, due to weak returns across many of these businesses, Shell will be more selective with investments over 2025-2027, with a 10% cap on capital expenditure for low carbon options and power. The rating agency expects oil prices to be lower in 2025 due to weaker global economic growth and higher-than-anticipated output from OPEC+, though these pressures are partly offset by security risks in the Middle East. Among EMEA oil and gas majors, Shell has the largest production profile with 2024 production of 2.6 million barrels of oil equivalent per day, compared to 2.1 million for TotalEnergies (EPA:TTEF) and 2.0 million for BP (NYSE:BP). This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. Don't miss out on the next big opportunity! Stay ahead of the curve with ProPicks – 6 model portfolios fueled by AI stock picks with a stellar performance this year.. In 2024 alone, ProPicks' AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. That's an impressive track record. With portfolios tailored for Dow stocks, S&P stocks, Tech Stocks, and Mid Cap stocks, you can explore various wealth-building strategies. So if SHEL is on your watchlist, it could be very wise to know whether or not it made the ProPicks lists.

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Moody’s affirms Cinda HK’s ratings, changes outlook to stable Investing.com -- Moody’s Ratings has affirmed China Cinda (HK) Holdings Company Limited’s Baa2/P-2 local and foreign currency issuer ratings while changing the outlook to stable from negative. The rating agency also downgraded Cinda HK’s notional Baseline Credit Assessment (BCA) to b1 from ba3, according to a statement released Monday. Moody’s affirmed the Baa2 long-term local currency backed senior unsecured debt ratings and the (P)Baa2/(P)P-2 program ratings of China Cinda (2020) I Management Limited. The agency also maintained similar ratings for China Cinda Finance (2017) I Limited’s debt and the program ratings of China Cinda Finance (2015) I Limited and China Cinda Finance (2017) I Limited. These financing vehicles are guaranteed by Cinda HK, which is a wholly owned subsidiary of China Cinda Asset Management Co., Ltd. (Cinda AMC, Baa1 stable). The affirmation reflects Moody’s expectation that the very high level of support from Cinda AMC and indirect support from the Government of China (A1 negative) will remain stable. This support offsets Cinda HK’s weakened credit profile resulting from persistently weak profitability and capital adequacy. Cinda HK’s tangible common equity to risk-weighted assets ratio has remained negative since 2022, primarily due to goodwill from the 2016 acquisition of Nanyang Commercial Bank, Ltd. (NYCB, Baa1 negative, baa2) and sustained net losses from high impairment charges and elevated interest expenses. Despite these challenges, Moody’s expects Cinda HK to maintain sound liquidity with robust funding access from Cinda AMC, including substantial credit facilities from multiple financial institutions and offshore funding arrangements. The stable outlook reflects Moody’s expectation that NYCB’s relatively stable performance and continued strong liquidity support from Cinda AMC will mitigate pressures on asset quality and capital adequacy over the next 12–18 months. In February 2025, Cinda AMC announced that the Ministry of Finance will transfer its 58% stakes to Central Huijin Investment Ltd. While this transfer awaits regulatory approval, Moody’s believes Cinda HK’s credit profile could benefit from Central Huijin’s resources over the long term. The ratings could be upgraded if Cinda AMC’s issuer ratings are upgraded or if Cinda AMC provides a direct guarantee. Conversely, a downgrade could occur if Cinda AMC’s ratings are downgraded, if there are signs of weakening support from the parent, or if Cinda HK’s notional BCA is significantly downgraded. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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Fitch maintains BNP Paribas’ ’A+’ Long-Term IDR with stable outlook BNPP’s ratings are supported by its steady and diversified business model, which yields moderate but resilient profitability. This offsets the bank’s slightly weaker capitalization and asset quality compared to similarly rated global trading and universal banks (GTUBs) and large French peers. Capital market activities contribute 15%-20% to BNPP’s group revenue, more than most large French banks but less than most GTUBs. The bank’s revenue diversification helps manage earnings volatility from these activities. The VR is one notch above the implied VR of ’a’ due to the strong business profile diversification supporting the resilience of financial metrics. BNPP has an extensive presence in commercial and retail banking across Europe. It has significant consumer-finance, wealth-management, and insurance operations. The bank has gradually diversified its leading European investment banking franchise and its wealth- and asset-management businesses through organic growth and acquisitions. This diversification has led to an increase in non-interest and non-domestic revenue. Less than 13% of the bank’s revenue came from French commercial and retail banking in 2024 and the first quarter of 2025. BNPP’s business diversification and strong centralized risk controls support its moderate risk profile. The bank’s tightened underwriting standards in more vulnerable asset classes and geographies, along with a focus on lower-risk jurisdictions, have improved asset quality. Fitch expects BNPP’s asset quality to remain resilient to the challenging environment in France and globally, due to its conservative underwriting standards and diversified exposure. France-based counterparties account for about a quarter of the bank’s total credit exposures, which is moderate compared with other large French banks. BNPP’s revenue base is more diverse than most European banks and has proven resilient to economic shocks. Despite pressure on net interest margins, especially in French retail banking, the group’s operating profit/risk-weighted assets (RWAs) ratio rebounded to 2.1% in 2024 and 2.2% in 1Q25, supported by continued strong performance in corporate and institutional banking amid very supportive markets. BNPP’s common equity Tier 1 (CET1) ratio has declined since 2024 as excess capital from the sale of Bank of the West, its US subsidiary, was used for acquisitions and organic growth. The CET1 ratio is lower than most GTUBs’ and large French peers’, but buffers over regulatory requirements are satisfactory, given BNPP’s above-average business diversification, improved earnings, solid capital management capabilities and high financial flexibility. BNPP’s European retail and commercial deposit franchise benefits its diversified funding profile. Its sound loans/deposits ratio of less than 90% is at the higher end of the GTUBs peer group’s but materially lower than large French peers’. BNPP’s liquidity reserves more than cover short-term financing needs, including net interbank and repo borrowings and medium- to long-term debt due within the next 12 months. A downgrade of BNPP’s ratings could occur if operating profit falls durably below 2% of RWAs, its impaired loan ratio rises materially and sustainably above 3%, or if the bank’s flexibility to maintain a CET1 ratio durably in line with its 12.3% guidance is diminished. An upgrade is unlikely given the negative outlook on the operating environment (OE) score and France’s Long-Term IDR. However, if the OE outlook is revised to stable at the current level, BNPP’s ratings could be upgraded if its CET1 ratio durably rises above its target and, at the same time, if its impaired loans ratio declines to below 2% and its operating profit/RWAs ratio improves toward 3%. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. Should you invest $2,000 in BNPP right now? Before you buy stock in BNPP, consider this: ProPicks AI are 6 easy-to-follow model portfolios created by Investing.com for building wealth by identifying winning stocks and letting them run. Over 150,000 paying members trust ProPicks to find new stocks to buy – driven by AI. The ProPicks AI algorithm has just identified the best stocks for investors to buy now. The stocks that made the cut could produce enormous returns in the coming years. Is BNPP one of them?

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Toyota’s outlook revised to stable by Moody’s Ratings, A1 affirmed TM TYIDF hereremove ads hereremove ads Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks. Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website. It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website. Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

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S&P maintains Hong Kong’s ’AA+/A-1+’ rating, predicts stable outlook Investing.com -- S&P Global Ratings on Tuesday confirmed Hong Kong’s ’AA+/A-1+’ credit rating and anticipates a stable outlook for the region. The ratings agency’s affirmation came in response to the potential impact of U.S. tariffs and the slowing economy of mainland China on Hong Kong’s open economy. The agency’s report suggests that these international factors may lead to a softer domestic demand within Hong Kong. Despite these potential challenges, S&P’s stable outlook indicates that it expects Hong Kong’s economy to maintain its current credit rating. S&P Global Ratings is one of the leading financial services companies that provides credit ratings for the debt of public and private companies. The ’AA+/A-1+’ rating signifies a very low credit risk. The stable outlook implies that the rating is not likely to change in the near future. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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Moody’s downgrades Yanlord ratings; stable outlook expected 0 © Reuters. YNLG -1.00% Investing.com -- Moody’s Ratings has lowered the corporate family rating (CFR) of Yanlord Land Group Limited (Yanlord) from B1 to B2. Additionally, the rating agency has also downgraded the backed senior unsecured rating of a bond issued by Yanlord Land (HK) Co., Limited, a wholly-owned subsidiary of Yanlord, to B3 from B2. This bond is guaranteed by Yanlord. Simultaneously, Moody’s has altered the outlook on these ratings from negative to stable. The downgrade is a result of Yanlord’s diminished operating scale, indicated by continuous contracted sales declines, which Moody’s anticipates will continue to impact the company’s operating performance and credit metrics over the next 12-18 months, according to Daniel Zhou, a Moody’s Ratings Assistant Vice President and Analyst. Zhou also stated that the stable outlook is based on the expectation that Yanlord will maintain sufficient liquidity to meet all funding needs over the same period. The B2 CFR assigned to Yanlord takes into account the company’s established brand and high-quality products. It also considers the company’s adequate liquidity, despite a narrowing buffer, and solid recurring rental income from its investment properties in China and Singapore. However, the rating is constrained by Yanlord’s reduced operating scale, declining sales, weakening credit metrics, geographic concentration, and significant exposure to joint venture businesses. Yanlord’s gross contracted sales fell to RMB22.2 billion in 2024, continuing the declining trend observed in 2023, mainly due to sector challenges and a significant slowdown in land replenishment. Over the next 12-18 months, Moody’s predicts Yanlord’s annual contracted sales to decrease by around 5%. The decline in contracted sales will further reduce Yanlord’s revenue and cash flow during this period, though recurring income from Yanlord’s established investment properties, especially those in Singapore, could partially offset this. Moody’s projects that Yanlord’s debt leverage, measured by adjusted debt/EBITDA, will increase to around 7.0x over the next 12-18 months from 4.3x in 2024. The company’s adjusted EBIT/interest coverage is also expected to decline to around 2.0x from 3.8x for the same period. Yanlord’s liquidity remains adequate, with a cash balance of RMB10.2 billion at the end of 2024 and operating cash flow sufficient to cover its debt maturities over the next 12-18 months, including a USD500 million bond due in May 2026. Yanlord’s ability to obtain secured loans by pledging its investment properties can also support its liquidity. However, the company’s B3 senior unsecured debt rating is one notch lower than the CFR due to structural subordination risk. This risk arises because the majority of claims are at the operating subsidiaries and have priority over Yanlord’s senior unsecured claims in a bankruptcy scenario. The holding company lacks significant mitigating factors for structural subordination, resulting in a lower likely recovery rate for claims at the holding company. In terms of environmental, social and governance (ESG) factors, Moody’s has taken into account Yanlord’s concentrated ownership, with its largest shareholder and chairman, Mr. Zhong Sheng Jian, holding approximately 71.55% direct and indirect stake in the company as of March 10, 2025. Moody’s could upgrade Yanlord’s ratings if the company strengthens its sales performance and credit metrics, and continues to maintain adequate liquidity. Conversely, the ratings could be downgraded if Yanlord’s liquidity becomes inadequate, its contracted sales drop more than expected, or its credit metrics weaken further. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. Should you invest $1,000 in YNLG right now? Don't miss out on the next big opportunity! Stay ahead of the curve with ProPicks AI – 6 model portfolios powered by AI stock picks with a stellar performance in 2024. Unlock ProPicks to find out

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Vital Energy’s outlook revised to stable, ’B’ rating affirmed by S&P Investing.com -- S&P Global Ratings has revised its outlook for Oklahoma-based crude oil and natural gas company, Vital Energy Inc (NYSE:VTLE)., from positive to stable. The ’B’ issuer credit rating and ’B’ issue-level rating on its senior unsecured debt have been affirmed. The ’4’ recovery rating on the senior unsecured debt remains unchanged. The revision in outlook is due to the anticipation of slower improvement in Vital Energy’s credit measures than previously forecasted, attributed to lower commodity prices and slower than expected debt reduction. Despite weaker commodity prices, S&P expects Vital Energy to maintain appropriate credit measures for the current rating, including funds from operations (FFO) to debt of 40%-45%. S&P Global Ratings announced these rating actions on May 14, 2025. The company is expected to generate positive free operating cash flow (FOCF), which it will primarily use to repay borrowings on its credit facility. The outlook revision also reflects S&P’s expectation that Vital Energy’s FFO to debt will average less than 45% in 2025 and 2026, a decrease from the previous estimate of about 55% over the same two-year period. Lower price assumptions for West Texas Intermediate (WTI) crude oil, including $60 per barrel in 2025 and $65 per barrel in 2026, have led to this downward revision. As of March 31, 2025, Vital Energy had $735 million drawn on its reserve-based lending (RBL) credit facility, primarily from financing its 80% interest acquisition in Point Energy Partners in September 2024. The company paid about $815 million cash at the close of the deal, primarily using borrowings under its RBL. S&P anticipates that Vital Energy will generate about $510 million of positive FOCF in 2025 and 2026 combined, which will be used to reduce its outstanding RBL borrowings. This expectation is based on production averaging about 137,000 barrels of oil equivalent per day in 2025 and 2026 and annual capital expenditure of $875 million-$900 million per year. Vital Energy’s ’B’ issuer credit rating is supported by its increased scale following recent transactions, including the acquisition of a three-asset package completed in November 2023, which added about 35,000 barrels of oil equivalent per day of production in the Delaware and Midland basins. The company now holds more than 80,000 net acres in the Delaware Basin and over 200,000 net acres in the Midland Basin, providing about 11 years of drilling inventory at the company’s current drilling pace. The stable outlook on Vital reflects S&P’s view that it will maintain appropriate credit measures for the rating for at least the next 12 months. This includes generating positive FOCF and allocating the majority of this to reduce the borrowings on its credit facility, supporting its credit measures. S&P could lower its rating on Vital if its credit measures weaken such that its FFO to debt falls below 30% for a sustained period. This could occur if commodity prices decline well below current expectations and the company does not reduce its capex or completes a debt-financed acquisition that doesn’t add near-term cash flow. Conversely, S&P could raise the rating on Vital if its credit measures strengthen, forecasting its FFO to debt will remain comfortably above 45% on a sustained basis, and it reduces the outstanding borrowings on its credit facility using its FOCF. The rating could also be raised if the company improves the scale of its production and proved developed reserves to be more in line with those of its higher-rated peers, while maintaining FFO to debt of about 45%. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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