CreditSights

Rig Count: Increase of Oil and Natural Gas Rigs Sends U.S. Count Higher The BHI U.S. rig count increased by ## last week to settle at #,###, as both the natural gas and oil counts trended higher. At #,###, the U.S. count remains #%...

CreditSights: Top Articles Read (April ##) Ambac #Q##: HELOCs and Closed-End Seconds Sink the Ship REIT Handbook April #### CDS Q&A for the Non-CDS Participant GMAC/ResCap: Board Bails, Ducking a Pre-Packaged Decision? Bank...

CreditSights: Weekend Reader (April ##) Our Weekend Reader is a compilation of all CreditSights articles published from April ## - April ##. The Weekend Reader is divided into Strategy, BondScore, Corporate Developments, Spreadsheets,...

Euro Markets Weekend Reader (April ##) Our Euro Markets Weekend Reader is a compilation of all CreditSights articles published to the Euro Markets page from ## April - ## April. The Weekend Reader is divided into European Finance, European...

Starwood Hotels: #Q## Results - Beats Guidance On Stronger European RevPAR Growth Starwood Hotels blew away its guidance for the first quarter, which can be attributed to both strong results among the international assets, and the doctrine...

Housing Weekly Monitor: March Home Sales - Weak and Weaker While "Super Bowl Sunday" typically marks the official start of the homebuilders' selling season, the two months that have passed since have been less than super. March new...

GMAC/ResCap: Board Bails, Ducking a Pre-Packaged Decision? (Excerpt) GMAC was downgraded to B#/B (from B#/B+) by Moody's and S&P, largely driven by ResCap, which received two-notch downgrades from both agencies to Caa#/CCC+ (from B#/B)....

Earnings Note: Nova Chemicals #Q## - Alberta and Exports Drive Growth, But Will It Last? Nova Chemicals reported revenues of $#.## billion and adjusted EBITDA of $### million, up ##% and ##%, respectively from the prior year figures.   ...

ABB #Q## - Great Results in an Period of Strategic Hiatus After Schneider Electric had kick-started the #Q## Earnings Season in European Capital Goods by reporting resilient (though lower than Consensus) sales figures on Monday, ABB...

Earnings Note: Safeway #Q## - Private-Label Reigns Supreme SWY reported a #.#% increase in total sales to $##.# billion and an impressive ##.#% gain in adjusted EBITDA to $### million. Excluding the positive Easter holiday shift, id...

GMAC/ResCap: Board Bails, Ducking a Pre-Packaged Decision? GMAC was downgraded to B#/B (from B#/B+) by Moody's and S&P, largely driven by ResCap, which received two-notch downgrades from both agencies to Caa#/CCC+ (from B#/B). Recent...

Earnings Note: Dow Chemicals #Q## - Cost Back Breaker Dow Chemical reported sales of $##.## billion, up ##% YoY, supported by higher prices (+##%) and volumes (+#%).    DOW implemented double-digit price increases in all regions and...

US Airways #Q## – Descending to Distressed Value Altitude #Q## results lag the industry. The credit card processing agreement was renegotiated in a positive way. There is no fixed charge coverage covenant in the term debt, except...

Ford #Q##: Resilient Autos, Consumer Quality Pressure at FMCC Ford auto numbers bring a rare bout of positive karma to the OEM sector after all the bouts of systemic angst, consumer-based macro jitters, deleveraging blues, and subprime...

Earnings Note: Brunswick #Q## - The Challenging Backdrop Remains Brunswick reported first quarter results that continued to exemplify the downturn underway in the boat industry. Companywide sales dropped #% to $#.# billion while adjusted...

Earnings Note: Black & Decker #Q## - Waiting Out the Storm #Q## sales decreased #.#% versus the year-ago quarter, to $#.## billion, despite #% of benefit from favorable currency movements. Organic volumes fell #%, while pricing was...

BondScore #Q## Review: Record Spreads But Less Than Record Default Risks Default risk continued to climb in the first quarter as the credit crisis pressured companies' health according to our BondScore model. While the credit repair...

Motorola: More Suffering, Implications for Market and Semi Suppliers Motorola's #Q## results reflect revenue decline in Mobile Device driven by an almost # percentage point share loss during the quarter, primarily in North America....