New York, July 24 (FinanceEnquiry.com) – Analysts at Moody’s Investors Service has affirmed Baa3 Corporate Family Rating and Baa3 Probability of Default rating for General Cable Corporation (NYSE: BGC). The outlook on the rating has been negative.
In a research note published yesterday, the analysts mention that the rating includes the view that the company’s business profile is a credit strength. On the basis of the view that the revenues might approach $7.0 billion in the next 18 months and include the company’s recently announced two acquisitions which were Alcan Cable, the wire and cable business of Rio Tinto Plc and majority interest in Procables SA General Cable is a very large company which sells across multiple regions.
The change in the outlook indicates the concerns regarding the company’s liquidity profile and credit metrics that are weak relative to the metrics. BGC has around $955 million of committed credit facilities maturing in 2013 and $170 million of additional debt classified as CPLT by creating significant refinancing risks, the analysts say.
New York, May 24 (FinanceEnquiry.com) – The economic statistics unleashed on May 23 signified solid vocation expansion and gave more indications that housing is getting better. Being a level constant with steady...Spice M-5566 Flo Entertainer: Sail Smoothly with New Technology - May 23, 2013
New York, May 21 (FinanceEnquiry.com) – Corn slipped for another day as soon as US planters stepped up planting on warmer climate, improving cheerfulness that output in the largest producer will arrive at a...Crude Oil Futures Fall in Asia; Market Looks Forward to Bernanke’s Evidence - May 20, 2013
New York, May 20 (FinanceEnquiry.com) – Since investors remained on the sidelines prior to the viewpoint of US Federal Reserve chairman on the economy afterward in the week, due to this, crude oil futures...Wall Street Futures on Upturn - May 17, 2013
Detailing it, by 0.21 percent, the Dow Jones industrial...Confidence amid House Builders Improves in May - May 16, 2013
New York, May 15 (FinanceEnquiry.com) – On apprehensions on the subject of increasing supplies from the United States and an austere stance for worldwide demand expansion, Brent futures fell towards $102 per barrel...European Stocks Likely to Start Higher; the Dollar Becomes Feeble - May 14, 2013
New York, May 14 (FinanceEnquiry.com) – On May 14, European stocks are probable to start higher, at the side of feebler government bonds, as soon as US retail sales statistics came above anticipations...Gold and Oil Costs Slip since Dollar Fortifies; Japanese Equities Surpass - May 13, 2013
New York, May 13 (FinanceEnquiry.com) – Pulling Asian shares lower, oil and gold costs slipped on the very first day of this week seeing that the dollar fortified, even though on the back of the yen's fall to...