Former M&S chief's motor leasing giant faces debt crunch [Yahoo! Finance]
Moody's Corporation (MCO)
Last moody's corporation earnings: 4/30 07:00 am
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Source: Yahoo! Finance
Zenith Automotive, which is owned by private equity giant Bridgepoint, has been put on debt downgrade watch by the ratings agency Moody's owing to concerns over its finances. The Leeds-based group is one of Britain's largest independent fleet managers, owning and managing more than 170,000 cars including electric vehicles (EVs) for companies such as Travis Perkins. The recent plunge in EV prices has spooked Zenith's bondholders over fears the group's portfolio of vehicles will be worth less in future. Second-hand EV prices have declined in recent months as manufacturers including Tesla cut prices and ex-lease and rental vehicles flood the market. Although the decline in prices is good for drivers, the fall is bad for companies that lease EVs because they likely paid higher prices and so could recoup less of their investments. According to figures from Auto Trader last year, a used electric car costing £50,000 is expected to lose £24,000 of its value over three years. Petrol
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MCO
News
- How the AU's African credit rating agency plan could work [Yahoo! Finance]Yahoo! Finance
- SA Sentiment: What's the best way to address America's $35T debt load? [Seeking Alpha]Seeking Alpha
- SKY Leasing Announces Closing of $569.640 Million Secured Notes Offering [Yahoo! Finance]Yahoo! Finance
- Thames Water Hit by More Rating Agency Downgrades as Cash Crunch Looms [BNN Bloomberg (Canada)]BNN Bloomberg
- US fiscal profile set to weaken under next administration, Moody's says [Yahoo! Finance Canada]Yahoo! Finance Canada
MCO
Earnings
- 7/24/24 - Beat
MCO
Sec Filings
- 9/10/24 - Form 4
- 9/10/24 - Form 4
- 9/10/24 - Form 4
- MCO's page on the SEC website