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its this one-------Rating Action: Moody's withdraws Autovia del Camino S.A.'s rating for business reasons
Global Credit Research - 05 Feb 2015
London, 05 February 2015 -- Moody's Investors Service has today withdrawn the Ba2 rating assigned to the EUR175 million senior secured loan provided by the European Investment Bank due 2029 and the EUR145 million senior secured commercial bank loan maturing in 2030 (together, the "Loans") of Autovia del Camino S.A. for business reasons, and does not reflect a change in Autovia del Camino S.A.'s creditworthiness.
RATINGS RATIONALE
Moody's has withdrawn the rating for its own business reasons. Please refer to the Moody's Investors Service's Policy for Withdrawal of Credit Ratings, available on its website, www.moodys.com.
The last rating action on Autovia del Camino S.A. was taken on 12 December 2013, when Moody's downgraded the rating of the Loans to Ba2 from Ba1, and maintained a negative outlook.
Autovia del Camino S.A. is a special purpose company that entered into a 30-year concession agreement in September 2002 with the Spanish Regional Government of Navarra to build, operate and maintain a 70 km shadow toll road linking the cities of Pamplona and Logroño in northern Spain.
REGULATORY DISCLOSURES
For any affected securities or rated entities receiving direct credit support from the primary entity(ies) of this rating action, and whose ratings may change as a result of this rating action, the associated regulatory disclosures will be those of the guarantor entity. Exceptions to this approach exist for the following disclosures, if applicable to jurisdiction: Ancillary Services, Disclosure to rated entity, Disclosure from rated entity.
Regulatory disclosures contained in this press release apply to the credit rating and, if applicable, the related rating outlook or rating review.
Please see www.moodys.com for any updates on changes to the lead rating analyst and to the Moody's legal entity that has issued the rating.
Please see the ratings tab on the issuer/entity page on www.moodys.com for additional regulatory disclosures for each credit rating.
Declan O'Brien
let me save u the trouble- loads of digging- Autovia del Camino S.A.
Denny - your are good- nice representations on the pics- the single credit risk 160 mm loss is from Spain- check out the reduction in Geography exposure in the supp from Q3 to Q4 2014 .. 172 mm - its gone- its a toll road- northern spain..ratings were withdrawn in february of 2015 for Business Reasons , not creditworthiness according to Moodys- austerity isnt helping and a govt not building infrastructure isnt helping- ur right on other pts.. leverage is lower, -70 mm on consolidated policy surplus - clearly stock reflects that- but- what happened to this toll road is the question... LT surplus at 82 -- ST surplus at 87.5 - prefs unchanged - equity down 25% from 2 bucks .. so - looks like someone knew about this before us....
yea!!!!! this came 5 months ahead of schedule.. I hear red blood cells in europe look ok.. stay tuned
ok- trading in syncora in the mots has abated ... not much join on.... u guys recall that ebola stock idea i gave you... CERS..... WELL . double - less than 2 months ` sitting here waiting for syncora to 2x... may be little bit longer- stay well check in when we are at 2.5 ... 45 days my guess...
nice find denny on the 3mm she.. i knew they had them..
i actually dont expect much from the filings.. i hope to be proven wrong on the NOTE section... this 1st call to investors .. IS THER A Q AND A ? according the press release they read from a preso deck off the website and call the call a day,,,,,who knows.. but its a start... end game here . Infrastructure Investment Fun.. this wont get sold to AGO .. they want RDN's biz...they own all the lots , tunnels in motor city coupled with american roads.. Pike is their dream,, utilizing their NOL's.. u guys keep forgetting.. u CANT sell the a majority stake in the company to Utilize the NOL's ..IRS doesnt allow that.. they need to convince a HF to put in capital.. surely, if the HF owns surplus , twins and 6.88 and common and wrapped bonds they will help the process...............
and btw.. the 50 k block... this is a pink sheet stock... there are rules of enagement.. only the bid need to be good for 100 shs on a call... if u have siize to sell or buy there have only been a handful inv in this stock.. eberyone knows who to whom to call to execute a trade.
Listen.. lets not get too excited ............
here we go ..let them put this out there. I hear surplus noteholders are restricted .. they cant trade .. they have info.. so several things are occuring.. as we wait for this posting.. either they are inv in a commutation or they are ... and this is a reach.. funding PIKE Point .. who knows .. something to chew on as you wait and drink bevvys ......
Ok- there is something going on
Long term surplus Notes ripped higher this week from 77 to 83 bid looking for offers.. highs were 86 .. twin reefs are 51 bid looking for offers- hearing 3 hedge funds are RESTRICTED in trading syncora now... ( that means that are getting private info from company) could be commutation, some cash investment for Pike Pointe.. who know .. something going on-good luck
I just found a Gem- like sycrf when it was .45 cents... CERS -
not to push anything on anyone - 4 bucks - It cleans plasma, platelet, red blood cells- most are looking for Ebola cures - well this company can clean plasma of survivors and reintroduce into ebola infected people .. did some work- looks like WHO comming out with guidelines on Ebola and this could be one of em- FDA has an IDE out with them.. this could be a nice entry point from technicals too for u traders out there- Syncora - seeing buyers of surplus notes - bid 86 , down 2 pts from hi's - good luck
Ebola is a Catalyst for this,, FDA will approve- Europe will buy more - full adoption comming
Another treatment of Ebola is to Clean Plasma of pathogens and Transfuse it.. CERS does this an is on FDA IDE approval for chigungaya and denge - cleans all blood products of all pathogens including Ebola - CERS
Syncora Capital Structure rallied significantly today... Syncora 6.88's closed 46.5 bid for 5 mm , Twin reefs 55 bid for 5 mm .. thats up 10% today... LT surplus notes 85 bid , up from 81 bid 2 weeks ago and ST surplus Notes traded as high as 91 today... everything rallied, Multiple Hedge Fund Buyers and No supply... except for the equity which remains cheap.. come get some-
this stock is a DOUBLE- Minimum
surplus notes are 84 bid for the Long Term and Twin reefs are 53 bid now.. up 2 pts- stock hasnt moved.. will catch up eventually....
banks quote them- trade with institutions- no cusip reporting i have been told... numbers and quote are good i have been told - we are going higher
Twin reefs refers to the prefered at SGI .. they have only 135 mm outstanding- they own the rest which was part of the commutation settlements- its bid ... not many other bonds you can buy in the insurers space with this upside IRR .. all of you are right .. HF have been buying both surplus and Prefs- problem with the stock is its too illiquid and a 5% ownership threshold... better sizing for what they want.. dont worry as the rest of the cap stack goes higher the equity will follow-
cap structure away from equity goes higher- Surplus notes traded north of 82 and the twin reefs are 51 bid .. 2 more pts for both in 1 week--- equity will catch up.. just a matter of time..look at it this way.. would u rather buy ambac jan 2015 calls struck at 30 for 4 bucks .. 2 pts out of the money - or syncora equity for 2.15 ??? we should be at 3 .. give it time -
Syncora's cap structure is bid.. surplus , holdco's and the pref at the opco- twin reefs.. buyers around.. this is the last play in bond insurance space- blocks of stock will be trading into the news- clearly we can extract that it will be positive - stay long
its going higher- surplus notes are still 76 bid and cap structure onlyt game in town after AMBAC rip this week-
stock will reflect it Monday by 12 pm ... there will be some low ball sales in the low 2's .. HF will scoop them up- will be much higher into close- everyone on this board should be astatic with the 400 mm cash settlement - as a result of the jeffco and other commutation they mention in the notes- we are going higher.. mkt cap at 2 is 130 mm area.. add another 200 mm - they got 400 less 200 mm expectations then u get 5 bucks 200+ 135 - 335 mm .. it will be discounted - so 3 is easy .. maybe 3.5 - have a good weekend
well - mkt expectations were for 200 mm ... havent gone thru the news.. so- 400 mm -this stock will open at 3 on monday