This post is co-written with Gordon Campbell, Charles Guan, and Hendra Suryanto from RDC. The mission of Rich Data Co (RDC) is to broaden access to sustainable credit globally. Its software-as-a-service (SaaS) solution empowers leading banks and lenders with deep customer insights and AI-driven decision-making capabilities. Making credit decisions usingContinue Reading
magnez2 American Express’s (NYSE:AXP) consumer and small business credit card delinquency and net write-off rates stayed relatively stable during June, the company disclosed in an SEC filing on Monday. Meanwhile, lending activity ticked up during the month. U.S. consumer card member delinquency rate of 1.3% was unchanged from May. WhileContinue Reading
jetcityimage EV giant Tesla (NASDAQ:TSLA) launched its rear-wheel drive Model 3 long-range vehicle for $5,000 less than the all-wheel drive model, the website showed. The new long range rear-wheel drive variant starts at $42,490, with a federal EV tax credit of $7,500 applicable, bringing its effective price down to $34,990,Continue Reading
Klaus Vedfelt/DigitalVision via Getty Images U.S. consumer borrowing grew by $11.35B in May, surpassing the $10.70B expected and accelerating from $6.49B in April, which was revised up from $6.40B, the Federal Reserve said on Monday. Total outstanding consumer borrowing of $5.06T advanced from $5.05T in the previous month. On aContinue Reading
General Motors (NYSE:GM) has agreed to pay a $145.8M penalty to the National Highway Safety Administration and retire 50 million metric tons of greenhouse gas credits to the Environmental Protection Agency after government regulators found excess CO2 emissions from ~5.9M GM (GM) vehicles made between 2012 and 2018. Automakers areContinue Reading
CytoSorbents (NASDAQ:CTSO) said it has entered into a new $20 million credit facility with Avenue Capital. The proceeds are expected to provide non-dilutive working capital to support the company’s ongoing global CytoSorb franchise in critical care and cardiac surgery. The agreement has an initial term of three years, provides up toContinue Reading
AutoCanada (TSX:ACQ:CA) has amended the syndicated credit facility to increase the Company’s maximum permitted Total Net Funded Debt to EBITDA ratio from 4.00:1.00 to 4.50:1.00 for the period from June 28, 2024 to September 29, 2024. After September 29, 2024, the Company’s maximum permitted Total Net Funded Debt to EBITDAContinue Reading
AnthonyRosenberg/iStock Unreleased via Getty Images Guess? Inc (NYSE:GES) Monday reported the expansion of the borrowing capacity under its existing European revolving credit facility from €250 million to €350 million. The facility, maintained through the company’s wholly owned Swiss subsidiary, Guess Europe Sagl, has a remaining term of roughly three years.Continue Reading
Main Street Capital (NYSE:MAIN) Friday announced the amendment of its revolving credit facility. The amendment provides an increase in total commitments to $1.110 billion and an increase to the diversified group of lenders to 19, while maintaining an expanded accordion feature that allows for an increase up to $1.665 billionContinue Reading
xp3rt5/iStock via Getty Images Waystar Holding (NASDAQ:WAY) has entered into an amendment to its first lien credit agreement with its lenders to reprice term loans, enhancing its ability to allocate free cash flow towards growth initiatives, it said Thursday after market. Under the terms of the amended credit agreement, theContinue Reading
