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NAC maintains 22% ROE

Airfinance Journal - 9/22/2017
Operating lessor Nordic Aviation Capital (NAC) yielded a 22% return on equity (ROE) during its 2016-17 fiscal year, which ran until 30 June. The Danish lessor reported a $153 million net result, up from $142 million in the previous fiscal year. During the 12-month period ordinary operating profit (EBITDA) increased by 33% to $587 million. During the 12-month period NAC continued to build its business platform through the addition of new aircraft and new customers and increased business with existing customers. As a result, NAC improved its financial performance for the 21st consecutive year: “We successfully integrated the acquisitions made late last year, establishing our presence in the Regional Jet market, and expanded our customer base to 69 customers in 46 countries. In line with our ambitions to develop flexible and cost-efficient funding options, we also established unsecured facilities with renown financial institutions and made our first private placement. This will allow us to continue to serve our customers with flexible, timely solutions in the regional markets,” says chief executive officer Søren Overgaard.
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Connecticut leaders to knock heads over budget

The Bond Buyer - 9/21/2017
PHILADELPHIA -- Connecticut's Republican legislative leaders say they will meet with Gov. Dannel Malloy in hopes of reaching a bipartisan solution to the state's three-month budget impasse. Democrat Malloy has promised he would veto the GOP's $40.7 billion biennial spending plan, which passed the legislature Friday after a handful of Democrat lawmakers broke with their leadership. The Senate is split 18-18 between Democrats and Republicans while the Democrats hold a narrow advantage in the House of Representatives. More jawboning from both sides erupted Wednesday.
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IDA chief hails Brexit 'win' as rating agency Kroll to open Dublin office

Independent Business - 9/21/2017
The decision by US bond rating agency Kroll to open its European headquarters in Dublin has been hailed as a "Brexit win" by IDA boss Martin Shanahan. Kroll, a smaller rival to the traditional big three of Moody's, Standard & Poor's and Fitch, was born at the height of the financial crisis in 2010. Since then the firm has published over 8,000 ratings totalling $740bn. It employs more than 275 staff and has offices across the US in New York, Pennsylvania and Maryland.
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Rating agency picks Dublin as its European base

The Times - 9/21/2017
Kroll Bond Rating Agency (KBRA), a US company, is to base its EU headquarters in Dublin, creating 100 jobs over the next three years (John Walsh writes). The firm was set up in 2010 “to restore trust in credit ratings following the financial crisis”, it said. It has more than 275 employees and offices across the United States. KBRA has published more than 8,000 ratings totalling $740 billion. The Dublin office will be its first outside the US.
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