Fitch Research
Fitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.
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Latest Reports from Fitch Research
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| Ontario, California | May 06, 2025 | ||||||||||||||||||||||
| ...New Issue May #, #### fitchratings.com # Ontario, California The assignment of the 'AA' LRB rating, one notch below Ontario's IDR, reflects the slightly higher degree of optionality of payments subject to appropriation. The 'AA' IDR reflects the... | |||||||||||||||||||||||
| UPL Corporation Limited | May 06, 2025 | ||||||||||||||||||||||
| ...Rating Report # May #### fitchratings.com # Corporates Chemicals Mauritius UPL Corporation Limited UPL Corporation Limited's (UPL Corp) Long-Term Issuer Default Rating (IDR) is aligned with that of its parent, UPL Limited (UPL), under Fitch Ratings' Parent... | |||||||||||||||||||||||
| ???????:2025????? | May 06, 2025 | ||||||||||||||||||||||
| ...| #### # ## fitchratings.com # #### #### ##,### # .#% # #% #,### #### ## #,### #### ##.#% #### #.#% ###.# #### ##.#% # ## # ##.#%#### # #### ###... | |||||||||||||||||||||||
| CGS International Securities (Thailand) Co., Ltd. | May 06, 2025 | ||||||||||||||||||||||
| ...Rating Report # May #### fitchratings.com # Non-Bank Financial Institutions Securities Firms Thailand CGS International Securities (Thailand) Co., Ltd. Key Rating Drivers Parental Support Drives Ratings: CGS International Securities (Thailand) Co., Ltd.'s (CGS TH) ratings are based... | |||||||||||||||||||||||
| Deutsche Bank: Strong Trading, Improved Cost Control in 1Q25 | May 06, 2025 | ||||||||||||||||||||||
| ...Credit Comment # May #### fitchratings.com # Banks Universal Commercial Banks Germany Deutsche Bank: Strong Trading, Improved Cost Control in #Q## Credit Comment Deutsche Bank AG (A-/Stable) reported a ##% year-on-year (yoy) increase in pre-tax... | |||||||||||||||||||||||
| Deposit Margins Boost NWG's 1Q25 Profitability | May 06, 2025 | ||||||||||||||||||||||
| ...Credit Comment # May #### fitchratings.com # Banks Universal Commercial Banks United Kingdom Deposit Margins Boost NWG's #Q## Profitability Credit Comment NatWest Group plc (NWG) reported strong #Q## results, generating an operating profit/risk-weighted assets (RWAs) ratio... | |||||||||||||||||||||||
| Canada Consumer Monitor: 2Q25 | May 06, 2025 | ||||||||||||||||||||||
| ...Canada Consumer Monitor: #Q## U.S. Tariff Policy Consequences to Weigh on Canadian Consumers May #### Exclusively for the use of John Wilcox at Alacra, Inc.. Downloaded: ##-May-#### fitchratings.com Special Report # Economics Canada Key Takeaways Strong... | |||||||||||||||||||||||
| JSC Kaspi.kz - Update | May 06, 2025 | ||||||||||||||||||||||
| ...Update # May #### fitchratings.com # Banks Universal Commercial Banks Kazakhstan JSC Kaspi.kz/Kaspi Bank JSC Update Key Rating Drivers The Issuer Default Ratings (IDRs) of JSC Kaspi.kz and its subsidiary Kaspi Bank JSC are driven by... | |||||||||||||||||||||||
| Beijing Gas Group Co., Ltd. | May 06, 2025 | ||||||||||||||||||||||
| ...Rating Report # May #### fitchratings.com # Corporates Utilities - Non US China Beijing Gas Group Co., Ltd. Beijing Gas Group Co., Ltd.'s rating reflects a Standalone Credit Profile (SCP) of 'a-', which is underpinned by a net cash... | |||||||||||||||||||||||
| Maybank Securities (Thailand) Public Company Limited | May 06, 2025 | ||||||||||||||||||||||
| ...Maybank Securities (Thailand) Public Company Limited Rating Report # May #### fitchratings.com # Non-Bank Financial Institutions Securities Firms Thailand Maybank Securities (Thailand) Public Company Limited Key Rating Drivers Shareholder Support-Driven Ratings: Maybank Securities (Thailand) Public Company Limited... | |||||||||||||||||||||||
| ???????????:1Q25 | May 06, 2025 | ||||||||||||||||||||||
| ...#### # ## fitchratings.com # #### ##.#% #### #.#% #.#% #### "" #### #.# ---- #### #.#% #### ##% #### ##% ##% #.#% AITO #### "" NOA L#+ OTA ##% #### #% #% ##% ###% ##... | |||||||||||||||||||||||
| Guangxi Investment Group Co., Ltd - ESG Navigator | May 06, 2025 | ||||||||||||||||||||||
| ...IPF ESG Navigator Government-Related Entities Credit-Relevant ESG Derivation Environmental (E) Relevance Scores E Score Social (S) Relevance Scores S Score Governance (G) Relevance Scores G Score IPF ESG Navigator Applicable Criteria & References Guangxi Investment Group Co., Ltd #... | |||||||||||||||||||||||
| Saigon - Hanoi Commercial Joint Stock Bank | May 06, 2025 | ||||||||||||||||||||||
| ...Rating Report # May #### fitchratings.com # Banks Universal Commercial Banks Vietnam Saigon - Hanoi Commercial Joint Stock Bank Key Rating Drivers IDR Driven by State Support: The Long-Term Issuer Default Ratings (IDR) of Saigon-Hanoi Commercial Joint Stock... | |||||||||||||||||||||||
| Vallourec SA | May 06, 2025 | ||||||||||||||||||||||
| ...Rating Report # May #### fitchratings.com # Vallourec SA The upgrade of Vallourec SA's Long-Term Issuer Default Rating (IDR) to `BBB' from `BB+' in April #### reflected the company's strengthened balance sheet, having achieved zero net... | |||||||||||||||||||||||
| Osprey Acquisitions Limited; Anglian Water (Osprey) Financing Plc; Anglian Water Services Financing Plc | May 06, 2025 | ||||||||||||||||||||||
| ...Rating Report # May #### fitchratings.com # Corporates Water/Wastewater Utility United Kingdom Osprey Acquisitions Limited; Anglian Water (Osprey) Financing Plc; Anglian Water Services Financing Plc The rating of Anglian Water Services Financing's (AWSF; financing company for opco... | |||||||||||||||||||||||
| Panama Canal in the Spotlight Due to Geopolitical Tensions | May 06, 2025 | ||||||||||||||||||||||
| ...Sovereigns Panama Dashboard # May #### fitchratings.com # Strategic National Asset: The Panama Canal plays a critical role in Panama's economy, through its direct and indirect contributions to GDP and employment, its capital investments, and government revenues. The... | |||||||||||||||||||||||
| Polygon Group AB | May 06, 2025 | ||||||||||||||||||||||
| ...Rating Report # May #### fitchratings.com # Corporates Diversified Services Sweden Polygon Group AB The Negative Outlook on Polygon Group AB reflects a weaker-than-expected EBITDA recovery in #### resulting in leverage metrics further outside their sensitivities and... | |||||||||||||||||||||||
| Polygon Group AB - Recovery Tool | May 06, 2025 | ||||||||||||||||||||||
| European Telecom Incumbents — Peer Credit Analysis | May 06, 2025 | ||||||||||||||||||||||
| ...Corporates Telecom Incumbents Europe Peer Review # May #### fitchratings.com # European Telecom Incumbents -- Peer Credit Analysis May #### Exclusively for the use of John Wilcox at Alacra, Inc.. Downloaded: ##-May-#### Corporates Telecom Incumbents Europe Peer Review... | |||||||||||||||||||||||
| Crimson Bond Trust 2025-1 - Representations & Warranties | May 06, 2025 | ||||||||||||||||||||||
| ...Representations & Warranties # May #### fitchratings.com # Structured Finance RMBS Australia Crimson Bond Trust ####-# - Representations & Warranties Related Report Crimson Bond Trust ####-# The representations, warranties, and enforcement (RW&E) mechanisms contained in the transaction's offering... | |||||||||||||||||||||||
