NCIG Holdings

Company updates

NCIG placed on CreditWatch positive

Newcastle Coal Infrastructure Group (NCIG) has issued notices to all its shippers, giving them an option to provide a letter of credit or cash to for a USD85m reserve. As a result, S&P placed NCIG’s BBB- rating for the senior secured debt – and B rating for the junior debt – on CreditWatch with positive implications

Week in review

Trading Desk

Malcolm Turnbull expected to announce his cabinet today, Theresa May sworn in as the UK’s PM and investors take profits with better selling volumes in Qantas and Virgin lines

Week in review

Trading Desk

The prospect of two further rate cuts puts more pressure on the Australian dollar, while evidence builds for a rate rise in the US

Company updates

Company updates – Cash Converters, NCIG and Newcrest

Cash Converters is to make an announcement following the final report into Small Amount Credit Contracts. NCIG announced a proposed refinancing to its commercial structure, allowing additional credit support from major shareholder BHP. Newcrest delivers a 33% quarterly uplift in their cashflow margin

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