CHICAGO–(BUSINESS WIRE)–How the equity portion of a recovery distribution will be accounted for is becoming more important to bondholders as additional defaults are expected this year, Fitch Ratings says. Equity receives no credit in the calculation of a CLO’s aggregate principal balance, or overcollateralization (OC) ratios, until the manager monetizes the equity position. Equity may…
BusinessLine Koushik Chatterjee, Group Executive Director (Finance and Corporate), Tata Steel Efforts on to make steel major leaner and profitable Mumbai, March 30: Restructuring and improving cost competitiveness in Tata Steel is an ongoing process and is not restricted to Europe or business that is suffering, said Koushik Chatterjee, Group Executive Director (Finance and Corporate),…
Far-reaching and long-awaited plans aimed at reforming Nigerias oil industry are gathering pace, though they have met with resistance from some stakeholders. Nigerias flagship hydrocarbons industry which produces an average of 1.95m barrels per day as of January, accounting for two-thirds of government revenue and 90% of export earnings has been targeted for reform for…
Confirmed just days ago, 3 Verulam Buildings‘ (3VB) heavyweight silk Adrian Beltrami QC has pulled out of moving to One Essex Court, deciding to remain at his current set. The news comes despite Beltrami moving his possessions over to One Essex Court last week. The move was considered major coup for One Essex Court. Beltrami…
This is probably the last thing UK steelworkers wanted to hear today. As many as 15,000 workers are facing an uncertain future after Indias Tata Steel last night confirmed plans to put its embattled UK business up for sale. Tata said late on Tuesday that it is looking at strategic alternatives for its UK business,…
Becton Dickinson: A Force to Be Reckoned With (Part 2 of 6) Behind Becton Dickinsons Strategic Restructuring and Business Consolidation By Sarah Collins Mar 28, 2016 1:14 pm EDT Overview The US medical device industry has been undergoing a disruptive change. Margins are shrinking, and competition is intensifying. To better position itself amid such…
222 Shares Share Tweet Share Email Update 1: March 17, 11: 45 PM: Ola has responded to the story and rejected the possibility of any such layoffs. In an email to us, Ola clarifies that the company continues to grow fast and is focused on hiring top talents. They also went…
Profits at Towergate fell in 2015 thanks to hefty financial restructuring costs but the companys chairman said the company was much more stable now. The companys profits were down to £352.1 million, compared to £376.7 million in 2014 a decrease of 6.4 percent. The insurer said that this £24 million revenue decline was partly due…
Acer to undertake major restructuring; form holding company, say sources Aaron Lee, Taipei; Steve Shen, DIGITIMES [Tuesday 22 March 2016] Acer reportedly plans to implement a corporate restructuring project under which the company will divide its business into three major segments: PC, cloud and data center management, and re-investment businesses, according to industry sources. The company…
LANSING The Michigan Senate on Tuesday approved a $720 million restructuring plan that would divide Detroit’s ailing school district in two, creating a new district in which new traditional or charter schools could automatically open only if they replicate a school with top marks in an A-to-F accountability system. But the House does not expect…