Business Services Industry
ISSUER RATING OF PROMISE CO., LTD.
Info-Prod Research (Middle East), June, 2004
Moody's Investors Service has affirmed the Baa1issuer rating of Promise Co., Ltd. (Promise), but changed its rating outlook to positive from stable. This action is in response to Promise's announcement of a strategic and capital alliance with Sumitomo MitsuiBanking Corporation (SMBC). At the same time, all of SMBC's ratings were also affirmed.
On June 21, 2004, SMBC and Promise reached an agreement whereby SMBC willacquire a 20% equity interest in Promise, a Japanese consumer financecompany. Of which, 15% equity interest acquisition is expected to beconsummated by mid July 2004. The affirmation of Promise's ratings reflect Moody's view that - despitethe potential enhancement of its franchise value - it may take some timefor Promise to achieve meaningful earnings enhancement...
Most Recent Business Articles
- Multiple criteria evaluation and optimization of transportation systems
- Multi-criteria analysis procedure for sustainable mobility evaluation in urban areas
- A two-leveled multi-objective symbiotic evolutionary algorithm for the hub and spoke location problem
- Multi-criteria analysis for evaluating the impacts of intelligent speed adaptation
- The development of Taiwan arterial traffic-adaptive signal control system and its field test: a Taiwan experience
Most Recent Business Publications
Most Popular Business Articles
- 7 tips for effective listening: productive listening does not occur naturally. It requires hard work and practice - Back To Basics - effective listening is a crucial skill for internal auditors
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- LIFO vs. FIFO: a return to the basics
- Design a commission plan that drives sales - Sales Commissions
- Too Young to Rent a Car? - 25-years-old the minimum age for car renting - Brief Article
