|
The KUIK Closing Market Report for Tuesday, March 27: |
|||||||
|
|
|||||||
|
Markets ended down. |
|||||||
|
|
|||||||
|
Index |
Direction |
Change |
Units |
Index |
Time |
Change |
|
|
Dow |
Down |
(345) |
points |
23,858 |
|||
|
S&P500 |
Down |
-1.7% |
percent |
2,613 |
|||
|
Nasdaq Composite |
Down |
-2.9% |
percent |
7,009 |
|||
|
30 Year Treasury |
Down |
(4) |
Basis Points |
3.03 |
Annual Yield |
||
|
Moody’s Investors Services today downgraded Tesla’s corporate debt to B3 from B2, one notch further down into junk-bond territory saying the Silicon Valley car maker "will have to undertake a large, near-term capital raise in order to refund maturing obligations and avoid a liquidity shortfall." The ratings reflect "the significant shortfall" in the Model 3 production rate as well as the company’s "liquidity pressures due to its large negative free cash flow and the pending maturities of convertible bonds. Tesla stock is down to $278 a share in late trading. |
|||||||
|
Serving the West Side first, I am Bill Roller of brcapitalinc.com for 1360 KUIK. |
|||||||
|
www.marketwatch.com/story/moodys-downgrades-tesla-debt-to-b3-fearing-liquidity-pressure-2018-03-27 |
|||||||
|
For today’s Closing Market Report click to listen-> |
|
||||||