An investment firm, Blackstone's asset management businesses have USD512bn in assets under management, including investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade
credit, real assets and secondary funds, worldwide.
It is the largest issue of debt securities by a Russian corporate borrower with a non-investment grade
credit rating since June 2017, and the first Eurobond offering since February 2018 for this type of issuers.
Turkey has launched a $2 B 10-year at 7.68%.
Fitch also undertook defined sensitivity testing to show the model-implied sensitivities the transaction faces when recovery-rate assumption stresses are increased to a level that is required to reduce note rating by one full category, to non-investment grade
and to 'CCCsf'.
With approximately USD 99bn of assets under management, GSO is one of the largest alternative managers in the world focused on the leveraged-finance, or non-investment grade
The government, which still has a non-investment grade
, is facing debt maturities worth e1/4451m next year and e1/4945m in 2018, when repayment of the e1/42.5bn loan from the Russian Federation will begin, according to the debt management office.
More negatively, the significant exposure to (i) equity holdings, including large investments in affiliates (totaling to 42 per cent of total invested assets at YE 2015), and (ii) meaningful amount of non-investment grade
deposits and fixed-income securities (12 per cent of total invested assets at YE 2015) translates into elevated high-risk assets, which represented 130.2 per cent of shareholders' equity at YE 2015.
of 20 new (mostly non-investment grade
) ratings to emerging economies.
Parsing corporate bond credit ratings data from 2006 to 2012, they report that the agencies rate bonds as non-investment grade
20 percent more often than before Dodd-Frank and issue false warnings nearly twice as often.
* Investment grade big box properties are priced at a 100 basis point premium over non-investment grade
big box properties
Standard & Poor's downgraded Russia's rating to BB-plus late on Monday, a non-investment grade
, for the first time since 2004, citing a slide in the ruble and weakening revenue from oil exports.