Ratings agency Moody’s Investors Service said it has strengthened the focus of its rating analysis with regard to liquidity and generation of free cash flow, rating triggers and parent-subsidiary support structures. The firm said it was acting in anticipation of the potential for continued turbulence in Europe’s bond markets and closer public scrutiny of rating agencies following a number of high-profile corporate defaults. ‘Moody’s credit analysis of European corporates now places greater emphasis on liquidity and the generation of free cash flow than on earnings (as represented by EBITDA.) We believe that liquidity and free cash flow are better indicators of a company’s ability to meet financial obligations when facing a variety of unforeseen challenges,’ said Richard Stephan, Chief Credit Officer of Moody’s European Corporate Finance Group. He added that Moody’s ratings for European corporates will also reflect the risks posed by rating triggers found in bank and bond documentation.
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more