Consider Credit--Fundamental Ratings Monthly Briefing March 2026
Morningstar DBRS released its March 2026 Consider Credit—Fundamental Ratings Monthly Briefing, presenting a Credit Rating Actions Dashboard that spans sovereign, public‑finance, banking and corporate sectors. Most ratings were confirmations, with a handful of trend upgrades, a single bank downgrade, and upgrades for a project‑finance issuer and a mining company. The edition also spotlights commentary on the escalating Middle East conflict, examining its ripple effects on Gulf sovereign credit, global shipping capacity, and European gas‑price dynamics. These insights aim to guide investors navigating heightened geopolitical risk.
Morningstar DBRS Posts Securitisation Insights Podcast Episode 40 on Synthetic SRTs: From Capital Relief to Key Risks
Morningstar DBRS released episode 40 of its Securitisation Insights podcast, featuring Mudasar Chaudhry, Andre Soutinho and Nicola De Caro discussing synthetic Significant Risk Transfer (SRT) transactions in Europe. The hosts explained how synthetic SRTs let banks shift credit risk to...
The CFO’s New Mandate for AI Assurance
Artificial intelligence is moving from simple automation to core financial workflows, forcing CFOs to assume direct responsibility for AI outcomes. The article argues that AI‑driven forecasts, reconciliations and working‑capital decisions must meet the same audit‑ready standards as traditional accounting. To...
Yes Madam Nears Rs 100 Cr Revenue in FY25; Remains Profitable
Yes Madam, the Noida‑based at‑home salon platform, doubled its operating revenue to Rs 92.5 crore in FY25, up from Rs 45.8 crore a year earlier. Product sales now account for 54% of revenue, reaching Rs 50 crore, while services generated Rs 42.5 crore. Despite a 100% rise in...
Denmark’s Wealth Tax Plan Would Be a Disaster for Startups
Denmark is proposing a wealth tax on illiquid shares, forcing owners of private‑company stock to pay annually on paper valuations. The measure would compel startup founders to liquidate or borrow against equity, diverting capital from growth to tax compliance. Norway’s...
Airtel Lines up $1 Bn Investment for Data Centre Arm Nxtra
Bharti Airtel's data‑centre subsidiary Nxtra Data is raising $1 billion to expand capacity to a gigawatt scale. The round includes $300 million each from Airtel and private‑equity firm Carlyle, and a $400 million commitment from Sheikh Tahnoon bin Zayed’s Alpha Wave Global. Funds will...
Heritage Commerce Corp (HTBK) Q4 2025 Earnings Call Transcript
Heritage Commerce Corp reported a strong deposit surge of $160.7 million in Q4 2025, with 95% of the growth coming from non‑maturity accounts, while loan balances slipped $37 million due to higher payoffs. Net interest margin rose to 3.44% as funding costs...
Eltek Ltd (ELTK) Q4 2025 Earnings Call Transcript
Eltek Ltd reported a 20% year‑over‑year revenue increase to $12.5 million in Q2 2025, driven by strong defense demand and a higher‑margin flex‑rigid product mix. Gross profit doubled and gross margin rose to 24.1% from 15.6% a year earlier, while operating profit...
Septerna Inc (SEPN) Q4 2025 Earnings Call Transcript
Sequans Communications reported Q4 2025 revenue of $7 million, a 72.6% sequential increase driven primarily by product shipments. Gross margin was 37.7% (about 43% excluding inventory provisions) and operating expenses fell to $11.5 million. The company ended the quarter with $68 million in...
Heritage Insurance Holdings Inc (HRTG) Q4 2025 Earnings Call Transcript
Heritage Insurance Holdings (HRTG) posted Q4 2025 revenue of $357 million, a 19% year‑over‑year increase, driven by strong written‑premium growth and an 80% surge in Marketplace revenue. Adjusted EBITDA rose 97% to $57 million and net income jumped 238% to $29 million, helped...
NET Power Inc (NPWR) Q4 2025 Earnings Call Transcript
Ideal Power Inc. reported a Q4 2025 earnings call highlighting a multiyear strategic cooperation with Lazen, a letter of intent with an Asian power‑module maker, and progress on a Stellantis purchase order for EV‑related B‑TRAN devices. The company raised $12.6 million...
Boundless Bio Inc (BOLD) Q4 2025 Earnings Call Transcript
Biodesix reported fiscal 2025 revenue of $88.5 million, a 4,124 % year‑over‑year increase driven largely by its lung‑diagnostics business. Gross margins rose to 83 % in Q4 and the company posted its first positive adjusted EBITDA of $530 k. A strengthened balance sheet now...
Voyager Technologies Inc (VOYG) Q4 2025 Earnings Call Transcript
Global Business Travel Group (GBTG) posted a strong Q4 2025, reporting $10 billion total transaction value—a 45% jump—and $792 million revenue, up 34% year‑over‑year. Adjusted EBITDA rose 17% to $130 million, while free cash flow reached $104 million for the full year. AI‑driven digital...
Franklin Street Properties Corp (FSP) Q4 2025 Earnings Call Transcript
Franklin Street Properties Corp announced Michael Comparato as CEO and Brian Buffone as President, signaling a leadership overhaul as the firm pivots toward a diversified commercial‑real‑estate platform. The board reduced the quarterly dividend to $0.20 per share to preserve book...
Castellum Inc (CTM) Q4 2025 Earnings Call Transcript
Constellium Inc. reported a strong fourth‑quarter 2025, delivering $2.2 billion in revenue, a 28% year‑over‑year increase, and an adjusted EBITDA (excluding metal‑price lag) of $213 million, the highest ever for the quarter. Net income swung to $113 million from a $47 million loss, driven...
Korn Ferry (KFY) Q3 2026 Earnings Call Transcript
Kforce reported Q4 2025 revenue of $332 million, a 3% sequential increase per billing day, and annual 2025 revenue of $1.33 billion, down about 5% year‑over‑year. Adjusted EPS fell 22% to $2.09, while GAAP EPS was $1.96, impacted by a $0.13 charge...
As Middle East Conflict Rages, DBS Urges SMEs to Hedge at Least Half Their FX Exposure – Not Time the...
DBS is urging Singapore‑based SMEs to hedge at least half of their foreign‑exchange exposure amid heightened volatility from the Middle‑East conflict. The bank’s SecureFX facility, which lets companies lock in rates up to US$1 million without credit lines, is already used...
EPFO Budgets 12.4% Rise in 2026-27 Contributions
India’s Employees’ Provident Fund Organisation (EPFO) has forecast a 12.4% jump in total contributions for FY 2026‑27, targeting ₹3.80 lakh crore, up from ₹3.38 lakh crore in FY 2025‑26. The increase is driven by the PM Viksit Bharat Rozgar Yojana, which seeks to create...
Zambia and UK Sign Debt Restructuring Deal Under G20 Framework
Zambia and the United Kingdom have signed an amendment that reduces Zambia's outstanding debt to the UK from $291 million to about $277 million and pushes the final repayment deadline from 2032 to 2043. The deal is part of Zambia’s broader debt‑restructuring...
DORA Raises the Bar on Operational Resilience
The EU Digital Operational Resilience Act (DORA) has been in force since January 2025, obligating financial services firms to retain operational control during severe IT incidents, not merely avoid failures. While many institutions have bolstered continuity and cyber‑response capabilities, a Veeam‑commissioned...
War Jitters Drain Liquidity From Iran’s Markets as Rial Pricing Fractures
Iran’s financial markets entered a pronounced lull after US and Israeli strikes heightened geopolitical risk, leaving many trading venues partially shut and liquidity thin. Online dollar pricing via USDT surged to IRR 1,550,000 per dollar, yet physical dollar dealers accept roughly...
Aircraft Leasing Gains Altitude at GIFT City
Aircraft leasing activity in India's International Financial Services Centre (IFSC) at GIFT City surged from 63 units in December 2024 to 196 units by December 2025, a 211% increase. The leased fleet, now valued at $6.886 billion, attracted $615 million of financing...
Russia's Budget Deficit Was Higher than Officially Stated
Germany’s Federal Intelligence Service (BND) disclosed that Russia’s 2025 federal budget deficit is actually just over 8 trillion rubles (~€89 billion), far higher than the Kremlin’s published figure. The agency also found that Russian military expenditures have been concealed, running up to...
Do Concentrated Portfolios Work – and What Are the Risks?
High‑conviction, concentrated portfolios are championed by UK fund legends like Nick Train and Terry Smith, and by hedge funds such as TCI and Pershing Square. While a few have delivered spectacular returns—Pershing Square’s 325% NAV gain—most concentrated funds exhibit volatile...
Inside FrieslandCampina’s Strategic Reset
FrieslandCampina reported €13.4 bn revenue and a 3.8% drop in operating profit for FY2025, while milk volume rose 2.4% – the first increase in eight years. The co‑op faced a perfect‑storm of commodity price pressure and a global milk oversupply that...
“We Are Building on Top of an Immature Ecosystem”: Day 1-1000 of Bujeti
Bujeti, a Lagos‑based fintech founded in 2021, has transformed from a diaspora remittance app into a comprehensive finance control centre for African businesses. The platform now offers corporate cards, expense limits, payroll, automated VAT vaults and an AI‑powered assistant, serving...
Stanza Living Turns Profitable in FY25 on the Back of Rs 277 Cr Other Income
Stanza Living reported a Rs 130 crore profit for FY25, reversing a Rs 273 crore loss from the prior year. The turnaround was powered by a Rs 277 crore miscellaneous income line, while operating revenue slipped 6.6% to Rs 545.5 crore. Total expenses fell...
Realbotix Reports Financial Results for Fiscal Year Ended September 30, 2025
Realbotix Corp. posted a 121% revenue jump to $2.0 million for FY 2025, driven by its Simulacra acquisition and a shift toward AI‑powered robotics. Gross margins rose to 34.3% while net loss narrowed to $6.3 million after exiting its cryptocurrency business and generating...
Cross-Border Restrictions in the Age of Geopolitical Tensions: What Seven Decades of Data Tell Us
A new study uses large‑language‑model techniques to convert the IMF’s 70‑year AREAER narrative archive into a daily, country‑level dataset of cross‑border financial restrictions (iBoP‑C and iBoP‑S). The high‑frequency indices reveal a stop‑go pattern of financial liberalisation, with advanced economies easing...
Planet Financial Grows 58% in Originations, 21% Servicing
Planet Financial Group reported a 58% jump in originations to $28.6 billion and a 21% increase in its servicing portfolio to $144.8 billion for 2025, achieved organically despite recent acquisitions. The growth was driven by strong retail retention (52% rise to $2.5 billion)...
CFOs See Month-End as the Front Line of Finance Automation
Month‑end close remains one of finance's most labor‑intensive tasks, with spreadsheets and manual reconciliations still dominant despite ERP deployments. CFOs are now adding automation layers that ingest data from payments, banks, and internal systems to reconcile records using rules and...
How One CFO Solved His Talent Shortage
A recent Robert Half survey shows only 6 % of finance teams possess needed skills, with 53 % reporting widening gaps and hiring shortages persisting. Liberty Bank’s CFO Paul Young tackled this by launching a combined apprenticeship and job‑rotation program in 2022,...
IRS Seeks to Scrap Basis‑shifting TOI Reporting Regulations
The Internal Revenue Service has issued proposed regulations to withdraw the basis‑shifting transaction‑of‑interest (TOI) reporting rules that were finalized in January 2025. The withdrawal would be treated as effective retroactively to Jan. 14, 2025, allowing taxpayers and advisers to consider the rules...
Alchemy Pay Hits 15 Money Transmitter Licenses With Delaware Win
Alchemy Pay announced it secured a Money Transmitter License in Delaware, bringing its total U.S. state coverage to 15. The company added four licenses this year, including Nebraska, South Dakota and West Virginia, expanding its regulated fiat‑crypto payment network. Alchemy...
Jackson Hospital Bondholders Offered Less than 19% Recovery
Jackson Hospital & Clinic in Alabama has filed Chapter 11, offering bondholders an estimated 18.7% recovery on par, or 22.9% for the broader secured class. The $87.5 million secured claim pool will be paid via a $2.5 million cash injection, $7.5 million senior unsecured...
Galapagos Creates New Subscription Right Plan
Galapagos NV announced the creation of 1,750,000 subscription rights under its new Subscription Right Plan 2026, aimed at current and future employees. Each right entitles the holder to subscribe for one new share, expanding the pool of employee equity incentives....
Aqua Finance Prepares to Sell $381.3 Million in ABS
Aqua Finance is re‑entering the securitization market with a $381.3 million asset‑backed security backed by loans for water‑treatment equipment, home‑improvement projects, marine craft and recreational vehicles. Originations through Q4 2025 jumped 30.6% year‑over‑year, fueled by new partnerships that lifted borrower quality to...
Priority 1 Issuer Logistics DAC – Q4 FY25 Investor Update and Management Accounts
Priority 1 Issuer Logistics DAC has published its consolidated management accounts and interim management report for the three‑month period ended 31 December 2025. The Q4 FY25 investor update is now accessible via the company’s investor portal and Oslo Børs NewsWeb. The filing...
AWILCO LNG ASA – PRIVATE PLACEMENT SECURING NEW EQUITY, NEW STRATEGIC INITIATIVE AND ENHANCED DEBT TERMS
Awilco LNG ASA announced a conditional private placement of 77.3 million new shares, raising roughly NOK 251.3 million (US$26 million). The proceeds will finance the launch of its ALNG Trading subsidiary, cover pre‑payments under its sale‑leaseback facilities with China Development Bank, and extend...
How Gaiia Used Its R&D to Help Finance a Pivot From Services to Software
In early 2023, Quebec‑based Oxio sold its ISP business to Cogeco for $100 million and rebranded as Gaiia, a software platform for challenger ISPs. The spin‑out entered a seed round of $13 million, but with less than $1 million in revenue and a...
Swift Moves Ahead with Retail Cross-Border Payments Network
Swift has introduced a new framework for retail cross‑border payments, with over 25 banks slated to process transactions under the rules by June. The initiative expands Swift’s traditional focus on interbank and commercial transfers to consumer‑level payments, targeting faster settlement,...
IRS Dirty Dozen Adds New Capital Gains Scheme for 2026
The IRS’s 2026 Dirty Dozen list introduces a new entry targeting abusive undistributed long‑term capital gains claims filed on Form 2439. Scammers are inflating or fabricating these filings, often linking them to nonexistent or misrepresented investment funds and real‑estate trusts. The...
IRS Releases Proposed Regs on Trump Accounts
The IRS and Treasury have issued proposed regulations for the Trump‑account pilot program, which will deposit a one‑time $1,000 into accounts for children born between 2025 and 2028. The rules clarify the election process, eligibility criteria, and the new Form 4547...
AM Best Upgrades Issuer Credit Rating of First Chicago Insurance Group Members
AM Best upgraded the Long‑Term Issuer Credit Rating for First Chicago Insurance Company and United Security Insurance Company to “bb+” from “bb,” while affirming a B‑rated Financial Strength Rating. Both entities now carry a stable outlook for the Long‑Term ICR, replacing...
Senate Democrat’s New Tax Proposal Could Change Paychecks for Millions
Senator Chris Van Hollen introduced a bill to eliminate federal income tax for individuals earning up to $46,000 and married couples earning up to $92,000, potentially covering nearly half of U.S. workers. The measure would raise the number of taxpayers...
IASB Finalizing Standard for Rate-Regulated Cos.
The International Accounting Standards Board is finalising IFRS 20, a new standard titled “Regulatory Assets and Regulatory Liabilities.” It targets rate‑regulated entities in utilities, energy and transportation, requiring them to recognise assets and liabilities that arise from timing differences between service...
Schellman Announces Strategic Partnership with Goldman Sachs Alternatives
Schellman, a leading cybersecurity compliance provider, secured a strategic investment from Goldman Sachs Alternatives, while Lightyear Capital stays on as a minority holder. The partnership aims to fund Schellman's next growth phase, expanding capabilities in AI governance, federal compliance, and digital trust....
Washington ‘Millionaires Tax’ Headed for Passage as Governor Says He’ll Sign It
Washington is poised to enact a 9.9% income tax on earnings above $1 million, projected to generate about $4 billion annually. Governor Bob Ferguson announced he will sign the revised bill, which allocates 5% of proceeds to child‑care and early‑learning accounts and...
Brightline Florida Hit with Another S&P Downgrade
Brightline Trains Florida LLC saw S&P Global Ratings downgrade its $2.2 billion Opco debt and $1.19 billion East bonds to CCC‑minus, deepening its junk‑status. The downgrade follows a series of rating cuts by KBRA and Fitch, all warning of a possible default...
Mumbai - Ahmedabad High-Speed Line Costs Rise by 83%
The Mumbai‑Ahmedabad high‑speed rail corridor’s budget has surged 83%, climbing to roughly Rs 2 trillion after land‑acquisition disputes inflated costs. Japan’s Official Development Assistance, which covered 81% of the original estimate, is unlikely to be extended, forcing India to tap its Consolidated...