Hunt Companies, Inc.: Update to credit analysis

Hunt Companies, Inc.: Update to credit analysis - Credit Opinion – 2023/04/26 – US$ 250.00 – ...Hunt's B2 corporate family rating (CFR) reflects its opportunistic growth strategy and the inherent risk in its cash flow generation - an income stream from a highly levered, diversified commercial real estate and financial services business coupled with the integration of newly acquired and recently expanded strategic initiatives. The company's recurring capital events mask historical performance, impact earnings visibility and create significant volatility in revenues and earnings. Other rating considerations include its high leverage and secured debt funding strategy, which decreases financial flexibility. The ratings also take into account Hunt's complex organizational structure and diversified business model that provides income streams from multiple growing business lines, including financial services, infrastructure and asset services....

Hunt Companies, Inc.: Update to credit analysis - Credit Opinion – 2022/04/01 – US$ 250.00 – ...Note: All ratios are based on 'Adjusted' financial data and incorporate Moody's Global Standard Adjustments for Non-Financial Corporations. [1] Approximately $887 million in goodwill excluded from gross assets calculation per Moody's standard adjustments. If included, gross assets would be approximately $4.2 billion. [2] Total Debt + Preferred Stock/Gross Assets would be approximately 54.5% if goodwill is included in the gross assets calculation. [3] Secured Debt/Gross Assets would be approximately 53.1% if goodwill is included in the gross assets calculation. Source: Moody's Financial MetricsTM...

Hunt Companies, Inc.: Update following debt refinancing - Credit Opinion – 2021/04/01 – US$ 250.00 – ...Hunt's B2 senior secured debt rating reflects its opportunistic growth strategy and the inherent risk in its cash flow generation - an income stream from a highly levered diversified commercial real estate and financial services businesses coupled with the integration of newly acquired and recently expanded significant strategic initiatives. The continued capital events mask historical performance, impact earnings visibility and create significant volatility in revenues and earnings. Leverage remains high at approximately 14x net debt to EBITDA and approximately 71% of total debt to gross assets. Furthermore, the company primarily pursues a secured financing strategy with a nearly fully encumbered portfolio, which decreases its financial flexibility. The rating also takes into account Hunt's very complex organizational structure and diversified business model that provides an income stream from multiple growing business lines from financial services to infrastructure and asset services....

Moody's affirms Hunt's B2 senior secured rating; stable outlook - Rating Action – 2021/03/29 – US$ 180.00 – ...MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS, AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS AND IT WOULD BE RECKLESS AND INAPPROPRIATE FOR RETAIL INVESTORS TO USE MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS OR PUBLICATIONS WHEN MAKING AN INVESTMENT DECISION. IF IN DOUBT YOU SHOULD CONTACT YOUR FINANCIAL OR OTHER PROFESSIONAL ADVISER. ALL INFORMATION CONTAINED HEREIN IS PROTECTED BY LAW, INCLUDING BUT NOT LIMITED TO, COPYRIGHT LAW, AND NONE OF SUCH INFORMATION MAY BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT MOODY'S PRIOR WRITTEN CONSENT. MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY ANY PERSON AS A BENCHMARK AS THAT TERM IS DEFINED FOR REGULATORY PURPOSES AND MUST NOT BE USED IN ANY WAY THAT...

Hunt Companies, Inc.: Update to credit analysis - Credit Opinion – 2021/02/24 – US$ 250.00 – ...Hunt's B2 senior secured debt rating reflects its opportunistic growth strategy and the inherent risk in its cash flow generation - an income stream from a highly levered diversified commercial real estate and financial services businesses in the process of integrating newly acquired and recently expanded significant strategic initiatives. The continued capital events mask historical performance, impact earnings visibility and create significant volatility in revenues and earnings. Leverage, including effective leverage remains high. Furthermore, the company primarily pursues a secured financing strategy with a nearly fully encumbered portfolio, which decreases its financial flexibility. The rating also takes into account Hunt's very complex organizational structure. The ratings also incorporate Hunt's diversified business model that provides an income stream from multiple growing business lines from financial services to infrastructure and asset services. Hunt has been a commercial real...