Articles tagged with:
credit ratings

  • Virgin territory in the capital markets

    Interesting times at Virgin Media, the telecommunications and entertainment company. In the same week that it announced plans to buy back up to $500m of its outstanding dollar-denominated 9.50% senior notes due 2016, the ratings agency Standard & Poor's changed its outlook on the company to positive from stable.

  • Uta Kemmerich-Keil, Executive VP, Head of Corporate Finance, Merck KGaA

    A ‘centred’ treasury: Uta Kemmerich-Keil, Merck

    PORTRAIT
    Uta Kemmerich-Keil
    Executive VP, Head of Corporate Finance

    Uta Kemmerich-Keil began her career as a financial auditor at Hoechst AG, a chemicals and life-sciences company. She joined Merck KGaA in 1999 as Director of Acquisitions and Controlling and became Executive VP and Head of Corporate Finance in 2007.

    She earned a Master’s degree in Economics from the University of Albert-Ludwigs-Universität Freiburg im Breisgau in 1995.

  • The Federal Reserve System

    Dating back almost a century, the central banking system of the United States has evolved substantially over the years. Since 2008 it has responded to the global financial crisis with a series of unorthodox measures that challenge its underlying monetary principles.

  • Eurozone Crisis: A Treasurer’s Survival Guide

    What will the future hold for the Eurozone?

    The Eurozone is facing a crisis of unprecedented proportions. Greece, Ireland and Portugal have succumbed to bailouts, and European leaders are still scrambling to limit the contagion. Only one thing is certain: the euro must change drastically if it is to survive. But which direction will it take?

  • Jurassic 'Junk' Does Not Meet the Standard (& Poor's)

    Boy: I wish I had enough money to buy a dinosaur.  Girl: What would you do with a dinosaur?  Boy: Who wants a dinosaur? I just want the money!
  • CDS uncovered: the naked truth

    With a Eurozone rescue by emerging market countries only wishful thinking and rumours abounding that Germany has had enough - it may be a case of every man (or country) for himself.  At this point, the foundation on which each member state bases its financial security requires even deeper analysis, and a review of their corresponding risk mitigation tools by the European Council and Parliament is imperative.  However, the recent EU-wide prohibition on ‘naked’ credit default swaps (CDS) trading has been met with mixed reviews…

  • Conflict of interest destroys ratings’ value

    “The management and board of Moody’s are squarely responsible for the poor quality of previous Moody’s opinions that ushered in the financial crisis” – so says a former senior analyst at the agency, William J. Harrington…

  • A perfect storm - US downgrade good for investment grade issuers

    US government debt may have lost its AAA rating, but its spreads have tightened over the past week as markets begin to digest the downgrade. A move that should give some corporates cause for concern and others cause for optimism.

  • Carol Power, Group Treasurer, Cable&Wireless Worldwide

    Carol joined Cable&Wireless Worldwide as Interim Treasurer in September 2009 to drive the de-merger financing for the Worldwide business and to establish a new treasury function; she became Group Treasurer of Cable&Wireless Worldwide in April 2010. She started her treasury career in 1992 at Burmah Castrol and has since worked at TI Group, ERM Holdings and Carphone Warehouse.

  • S&P puts US AAA rating on ‘negative outlook’ – and it could hit you

    Standard and Poor’s outlook change officially means there is a one-third chance that the safe haven for spare cash will have its headline rating downgraded. That could have short-term funding effects, but looking beyond that minor impact the effect on treasurers’ careers may be the one to watch…