CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

CAPITAL GOODS: Johnson Controls (JCI Baa2[P]/BBB+/NR) Asset Sale

CAPITAL GOODS
BulletCredit Bullets

No expected credit impact.

  • Bloomberg reports JCI is starting the sale process of ADT alarms with a valuation around $2bn. This had been rumoured since 1H this year.
  • JCI has activists including Elliott on its shareholder register and has been rationalising its portfolio, with an $8bn HVAC sale to Robert Bosch already agreed.
  • $2bn would be less than 0.5 turns of leverage and we expect shareholder returns to be prioritised.
67 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

No expected credit impact.

  • Bloomberg reports JCI is starting the sale process of ADT alarms with a valuation around $2bn. This had been rumoured since 1H this year.
  • JCI has activists including Elliott on its shareholder register and has been rationalising its portfolio, with an $8bn HVAC sale to Robert Bosch already agreed.
  • $2bn would be less than 0.5 turns of leverage and we expect shareholder returns to be prioritised.