Most companies in the Fitch 50 had sufficient covenant headroom, although six issuers had remaining headroom of 10% or less.
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Financial Headroom Supports Expansion: The current low leverage is among the lowest for Fitch-rated Chinese homebuilders, and provides headroom for further expansion.
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KEY RATING DRIVERS Lower Rating Headroom: LGE's credit profile will deteriorate in the short term - leaving narrower rating headroom - because of weakness in the consumer electronics industry and the wider economy.
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It's a Max Headroom moment of sorts, with authoritarian overtones.
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After falling hard last year stocks in China had headroom.
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However, this is balanced by a lack of leverage headroom.
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This headroom provides additional cushion in case of tenant default.
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Limited Rating Headroom, Negative Outlook: The softer operating performance coupled with the completion in 2017 of a USD5 billion share buyback programme have increased financial leverage, thus limiting rating headroom at the 'AA' level.
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KEY RATING DRIVERS High Investment, Low Rating Headroom: Fitch expects the rating headroom of mobile-phone operator AIS, headquartered in Bangkok, to remain low in 33718256 and 33710321 due to high capex and spectrum payments.
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"We have got ample headroom to accommodate expansion opportunities," Ralphs added.
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However, SKT's cash position would have deteriorated, leaving lower rating headroom.
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KEY RATING DRIVERS Investment Lowers Rating Headroom: Fitch expects the rating headroom of Bangkok-headquartered mobile-phone operator, AIS, to shrink as its credit metrics deteriorate due to its large investment in 212000GHz and 4807123MHz spectrums.
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On a phased-in basis the headroom above the requirement was 170bp.
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The Model Y has a bit more headroom and a third row.
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Tall people looking for a small car will appreciate the lofty headroom.
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As a result rating headroom is limited during the group's transformation phase.
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Narrower Rating Headroom: Rating headroom for TDP at the current rating level of 'BBB+' has been eroded rapidly, and the company's failure to turn around the ongoing mobile subscriber loss trend in coming quarters will pressure the ratings.
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But they won't travel with anything that even vaguely resembles legroom or headroom.
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Goodbody analyst John Cronin said that meant more headroom for distribution to investors.
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Does having that little bit of extra headroom make much of a difference?
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However, Singer has sufficient headroom to increase leverage while maintaining its current ratings.
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Moody's estimates Noble's liquidity headroom, of cash and undrawn debt, at $1.2 billion.
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Provident also said it currently has capital headroom amounting to 200 million pounds.
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And there is so much headroom to improve things in government right now. Yeah.
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Lightweight "expedition-style" models typically have tentlike fabric sides, popping up to add headroom.
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But the steeply raked roofline means headroom for taller passengers is a bit tight.
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Those cuts, if enacted, would create plenty of budgetary headroom for Tax Reform 2.0.
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Impreza's back seat will welcome two adults with good foot, leg, knee and headroom.
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Both are rated at the same level but SCCC has more limited rating headroom.
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Leverage Headroom Exhausted: Higher projected drawn debt at refinancing, together with utilisations under the capex facility between 2017-2019, will lead to some re-leveraging to 7.0x on a funds from operations (FFO) basis, leaving only small leverage headroom under the current rating.
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The backseat is remarkably roomy for a compact car, especially when it comes to headroom.
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SG remains committed to maintaining a CET1 ratio with 100-150bp headroom above regulatory requirements.
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However, Rostelecom retains comfortable headroom below the downgrade threshold of 3.5x FFO adjusted net leverage.
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The carbon fiber chassis has also been made more accommodating with increased legroom and headroom.
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"See what's happened is [the Headroom hack] has become a cult following now," Swirsky said.
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But even before its place in culture, the Headroom hack was a major news story.
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This is despite the additional cash headroom provided by lower debt and the toggle option.
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However, this is unlikely in the short to medium term given the large ratings headroom.
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We expect further leverage reduction over FY212000-FY4807123, creating some headroom under the current rating.
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Well, certainly they're still growing, and they have a lot of headroom for growth still.
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"There's massive headroom in the markets they are in, from a growth standpoint," he added.
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The bed itself is a cozy space with more headroom than in some tiny houses.
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Panoramic roof glass adds drama, but the headroom is pinched in the raised center seat.
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But assess rear headroom closely if the giant glass roof is on your option list.
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Four adults can sit comfortably, and the rear seat has good headroom and a comfortable cushion.
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After 30 years and an intense FCC investigation, the people behind the Headroom hack remain unknown.
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A sharp rise in prices could also cap the headroom to ease monetary policy, it added.
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The revolving credit facility provides financing headroom from the date of the completion of the acquisition.
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But the question is whether they should have included some more headroom, or a bigger buffer.
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This forced designers to give the exterior shape a crossover roofline to aid in interior headroom.
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IKKS has recently announced its intention to amend the covenant threshold to allow for wider headroom.
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This level of leverage is not commensurate with a 'B+' rating, which indicates low financial headroom.
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The Camry's rear cabin features slightly less legroom than the Accord while boasting slightly better headroom.
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In addition, Alibaba had an unutilised USD2613bn revolving credit facility, which can provide further liquidity headroom.
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Singtel will have limited headroom under its ratings, although the Netlink IPO proceeds provide some flexibility.
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A cavernous interior with impressive headroom is perfect for tall people looking for a compact ride.
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There are 35.5 inches between the lower and upper levels, leaving a decent amount of headroom.
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But when the Max Headroom hack was posted to YouTube, he got a new type of attention.
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Fitch believes Singer has more headroom in its current rating to withstand these challenges compared with Abans.
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We expect SLT's ratings to remain unaffected, as it has sufficient headroom to absorb the proposed tax.
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However, hitting the 23°C target leaves just 0.5°C of headroom over the next 80 years.
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Despite the reduction, DMGT retains significant leverage headroom within its rating and financial flexibility for operational execution.
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He understands that the meters don't always need to be slamming and he left plenty of headroom.
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KEY RATING DRIVERS High Investment, Low Headroom: Fitch believes that AIS, which won 1083GHz and 900MHz spectrum in the November 2015 and May 2016 auctions, will be able to support the investment in the medium term, although its credit metrics are likely to deteriorate, reducing its rating headroom.
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The higher inflation would have meant higher interest rates and more "headroom" for the Fed to cut rates.
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Fitch expects the company to retain substantial headroom below the downgrade threshold of 3.5x FFO-adjusted net leverage.
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This may also put pressure on earnings, given limited headroom below the regulatory loans/deposits ratio of 90%.
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The Stable Outlook is predicated on the group's financial headroom increasing from 2110 as the EBITDA margin improves.
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With the downgrade threshold at 2.5x the company therefore has headroom notwithstanding the materiality of the guidance revision.
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"We believe Sky will likely use some of this headroom to invest more in original programming," he said.
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This would still remain in line with our sensitivity for a 'BBB' rating, although financial headroom would reduce.
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And some of the biggest countries in Europe have headroom for fiscal spending, including Poland by the way.
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This acts as a key constraint on the IDR, and results in tight headroom under the 'B' rating.
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"Our strategy implementation will continue and we still have significant financial headroom available for market consolidation," he added.
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"You want to have a little bit of headroom but a million units is a lot," she said.
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Improved Leverage Headroom: TDC's FFO-adjusted net leverage reduced to 3.7x in 2016 from 4.6x at end-103.
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To add more headroom between levels, you can purchase a leg extension set to raise the upper berth.
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The sovereign retains some fiscal headroom, with growth expected to be 22001% and 2.9% in 2016 and 2017, respectively.
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The working age population keeps growing slowly, while the headroom for growth in our labor force continues to shrink.
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That's enough headroom to potentially fit some of the most powerful gaming laptop parts in a relatively thin chassis.
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The lower rating level does offer additional headroom to absorb these risks; this is reflected in the Stable Outlook.
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Third, with the fiscal headroom generated by higher inheritance tax, reduce other taxes, lightening the load for most people.
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We expect FFO adjusted net leverage to trend towards 3x by FY18, improving the headroom under the group's ratings.
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Headroom over balance sheet covenants is solid (eg, gearing was 1.6x at end-1H13 versus a covenant of 3.75x).
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The international ratings, which are constrained by the sovereign ratings, have sufficient headroom to absorb a debt-funded acquisition.
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We expect TCG to continue to have minimum liquidity headroom of GBP200m, which is consistent with the current rating.
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In removing a host from the Oscars, fresh winners were given the headroom to speak about their own accomplishments.
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Gradual inflation allows wages to rise and offers headroom to guard against outright price decreases when the economy weakens.
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But the advantage is that Microsoft now has a lot more thermal headroom to play with than ever before.
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The rear seats have serious lounge room for family and friends, but tall passengers may yearn for extra headroom.
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A rise in the neutral level gives more headroom for the central bank to lift rates without slowing growth.
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Reduced Financial Headroom Tightening headroom reflects our expectation of a higher lease-adjusted FFO net leverage due to shareholder-friendly activity in 2016, while we expect the group's business profile to continue to experience greater pressure than other 'BBB' rated food retail companies such as Carrefour (BBB+/Stable) and Kroger (BBB/Stable).
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KEY RATING DRIVERS Rating Headroom, M&A Fitch Ratings expects the large acquisition headroom that thanks to funds from operations (FFO)-adjusted net leverage well below 21000x, Henkel AG & Co. KGaA has had for its 'A' rating level since 211, to diminish by end-21500 and not to materially recover over 21000-212000.
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More headroom never hurt anybody, but AMD is no longer a power hog, and for that we can be grateful.
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The country has still some headroom to use central bank statutory advances, as only 25% had been used in 7503.
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In contrast, AIB's fully loaded CET1 ratio of 15.3% (post-dividend) gives it headroom to absorb volatility and resume dividends.
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There's also plenty of headroom in such a job, with the average computer and information systems manager making over $120K.
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Improving Leverage Headroom: Investments in restructuring and reshaping its portfolio saw FFO-adjusted net leverage spike in 2015 at 2.8x.
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Draghi also defended the tools that the organization has available, saying that its asset purchase program still has considerable headroom.
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This, coupled with normal banking headroom, meant the business should have adequate funds to ride out the turnaround, he said.
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"Monetary policy will have less headroom to provide adequate rate cuts when large disinflationary shocks hit the economy," Evans said.
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Rating headroom is low due to a history of generous shareholder distributions followed by GBP443bn M&A spending in 2015.
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However, PGE's rating headroom will largely be eliminated by 2020 by planned high capex and a projected increase in leverage.
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The additional capital will provide further liquidity headroom through the coming 2019/20 winter cash low period, Thomas Cook said.
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This would be hard to achieve, but not impossible: turnout among whites in 2012 was 64%, which leaves some headroom.
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At this level, the ratio still compares favourably with most peers and provides ample headroom over the bank's SREP requirement.
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Rear legroom was ample, and the curving, fastback roof didn't create too many headroom issues, although taller adults might disagree.
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This provides some rating headroom under its unconstrained-'BBB' credit profile during its ongoing heavy investment in the telecom operation.
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The capital buffer above regulatory minimums is sufficient, but provides limited headroom to accommodate RWA growth or negative rating migrations.
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Dialog's ratings have sufficient headroom for a debt-funded acquisition of a smaller telco for around LKR10 billion-12 billion.
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However, Fitch believes that ABB has limited headroom in its balance sheet for further sizeable acquisitions compared with its peers.
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We expect Tinder to once again print one of its best quarterly net adds ever, with further headroom to grow.
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Moving to the inside of the Model Y, customers will find a tiny bit more headroom — less than an inch.
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Their lack of financial headroom could spell trouble if a downturn hits, whether triggered by events at home or abroad.
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More importantly, this headroom is a one-off; tax cuts and recurring spending would have to be financed each year.
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Some effects we tried early on felt too much like an old TV fritzing or Max Headroom or something like that.
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Lower-end systems may see a greater benefit because of the lack of headroom via the RAM, processing and/or graphics.
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Moreover, as Philip Hammond, the chancellor, says, any fiscal headroom he has would soon be exhausted by a no-deal Brexit.
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These measures are intended to provide headroom for further expansion of its Premier Inn hotel chain in the U.K. and Germany.
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And given our starting point, even though we've been growing a lot, there's a lot of headroom there in our mind.
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Bharti's ratings have moderate headroom, given its plan to sell non-core assets despite higher competition and capex requirements in India.
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Noble reported that its liquidity headroom fell to $800 million in the third quarter from $1.4 billion in the second quarter.
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Both companies, based on their existing capex plans, have limited rating headroom for any large- scale on-balance sheet new investments.
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He said he was likely to have 15.4 billion pounds of headroom below that target, up a bit from November's forecast.
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Companies highlighted in the latest edition had higher than average enterprise valuation multiples, mostly sufficient covenant headroom, and diverse credit metrics.
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We have assumed no dividend payments or acquisitions, for which MMI is likely to have little headroom at the current rating.
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The Opus 15 also has a pop-up roof, allowing for more headroom in the interior when the trailer is parked.
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Gunvor's financing lines remained above $20 billion, in line with a year ago, although lower oil prices have allowed more headroom.
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It has about 9 feet of headroom space, in addition to an alfresco dining area, a sun pad, and lounging area.
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In creating its robot, Nuro had not provided as much headroom as it should have — and people behave in inexplicable ways.
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Finance minister Philip Hammond has warned the two candidates that their plans would cost more than the headroom in his budget.
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Domino's Pizza Group, Britain's biggest pizza delivery company, said it has financial headroom of nearly 100 million pounds ($122.18 million). (reut.
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The massive headroom for growth plus its use of software to coordinate supply chains and optimize routing is what attracted SoftBank.
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With FFO net leverage of 3.3x as at September 2016, the group has limited headroom versus a rating sensitivity of 3.5x.
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We expect TT's leverage in 2016 and 2017 to be high relative to our rating threshold, leaving TT with limited headroom.
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"The goal is to create some headroom so it can be deployed if necessary," the unnamed official was quoted as saying.
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It wasn't a buttery smooth experience, but it wasn't a laggy one either, and it felt like I had headroom to spare.
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We therefore expect non-food retailers across our portfolio to have little or no leverage headroom at their current ratings in 2017.
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A combination of restructuring, voluntary one-off pension payments and acquisitions over the past two years has reduced headroom within the rating.
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We deem any potential larger debt-funded transactions as an event risk given that the rating has limited headroom to absorb them.
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Even though X5 exhibits weaker fixed charge cover metrics, overall, we assess X5 has more headroom under its 'BB' rating than Lenta.
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Basically, it's an X3 sport utility with the useful boxy back end sliced off and a smidgen of back-seat headroom excised.
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The iPhone XS has a lot more headroom there that could be taken advantage of if a developer optimized for the chip's power.
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For more about the theories and conspiracies behind the Headroom hack, read Motherboard's classic 2013 investigation, The Mystery of the Creepiest Television Hack.
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At center screen, a person wore a Max Headroom mask—a character who appeared on various television shows and movies in the 1980s.
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There's more than enough headroom for my six-foot frame, and that's before I lowered the seat to a more race-ready position.
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AND JEFF, DOES THIS TEAMING UP, THIS ACQUISITION OF LINKEDIN, GIVE YOU MORE HEADROOM TO INVEST AGGRESSIVELY IN GROWTH IN THE NEAR TERM?
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Service penetrations of broadband and pay-TV are estimated to be just over 50%, which indicates further growth headroom over the medium term.
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In addition, M&S at FYE220 had GBP160bn headroom to issue new bonds, although subject to market conditions, under its GBP21103bn EMTN programme.
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Such an acquisition, if debt-funded, would further weaken Singtel's net leverage, and may threaten its ratings, as ratings headroom is already low.
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Covenant Breach, Leverage Headroom Exhausted in 2016 The EBITDA contraction is likely to result in a covenant breach under the RCF during 2016.
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While Instagram's continued growth is encouraging considering the struggles of rivals like Twitter, there's still quite a bit of headroom for the service.
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Modest Leverage: Fitch expects credit protection measures will remain solid and provide Jabil headroom for short-term operational shortfalls and incremental debt issuance.
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I'm uncertain if Mr. Wiedeking has adequate headroom, but the Executive model with 5.9 inches of wheelbase stretch should cure any legroom issues.
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With many global central banks slashing rates because of concerns about sluggish economic growth, that kind of headroom is bound to inspire jealousy.
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Our current projections show more conservative leverage metrics than our previous forecasts, which contribute to improving X5's headroom under its 'BB' rating.
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And with plenty of headroom, you can sit up and use the bottom level not only for sleeping but also for hanging out.
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Headroom on Huiyuan Juice's ratings has decreased following a significant rise in accounts receivable as of end-June 2017, contrary to Fitch's prior expectations.
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Bank of Korea governor Lee Ju-yeol said on Thursday a slower Fed gives global central banks more headroom to manage their monetary policy.
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Ghost Squad took credit for the attack in a Max Headroom-styled YouTube video the next day, accusing the group of anti-white racism.
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Hammond said in a BBC interview he wanted to keep some fiscal "headroom" as two years of difficult negotiations about leaving the EU approach.
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"We have some investment headroom and we are willing to use it," he says, hinting that infrastructure, science and defence will be his priorities.
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KEY RATING DRIVERS M&A, Rating Headroom The acquisitions of Aqualande's downstream activities, Pere Olive and King Cuisine improve the group's business risk profile.
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Funds from operations (FFO) adjusted net leverage is forecast at around 4.8x over the medium term, with limited headroom at the current rating level.
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I personally would have scored some of the other pairs even higher, but I get that they need some headroom as the season continues!
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An earlier-than-expected divestment of NetLink Trust - ahead of Infocomm Development Authority's (IDA) mandated April 2018 deadline, will also provide additional financial headroom.
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The rear is especially welcoming: comfortable and with plenty of headroom, this is a car that is exceptionally nice to be driven around in.
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The headroom on Huiyuan's ratings has decreased following a significant rise in accounts receivable as of end-June 2017, contrary to Fitch's prior expectations.
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"That said, we believe that Amazon has plenty of headroom to improve its performance and monetization," Mizuho analyst James Lee wrote in the note.
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Britain's budget forecasters also say the headroom could be almost halved by the way that official statisticians treat student loans in the public accounts.
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Any additional investments, capex or further return of shareholder funds that are not funded by other sources of cash could place pressure on this headroom.
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"These challenges weighed on our service revenue growth during the year, and together with high spectrum auction costs have reduced our financial headroom," he said.
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Leverage headroom is low across all ratings categories in Fitch's portfolio of non-food retailers, leading to our overall negative rating outlook for the sector.
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As his fiscal headroom is reduced he will have less to offer after Brexit—say, to farmers affected by new EU tariffs on their exports.
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Chief executive Willie Walsh told investors he expected to see airline consolidation in Europe and that IAG had the financial headroom needed to pursue acquisitions.
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Specifically, Fitch expects total leverage (total debt/operating EBITDA) below 1.5x through the intermediate term, although Fitch's negative rating sensitivity provides headroom up to 2x.
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Fitch's Eyerman calculated that even a 200bp rise in interest rates is unlikely to stress credit profiles, given the size of issuers' debt service headroom.
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While the merged company has made no announcement in respect of possible future special dividend payments, depending on their size, this may limit financial headroom.
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A transaction that is effectively equity-funded at the UPC level is expected to provide around 0.2x-103x of annualised leverage relief/headroom upon completion.
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But headroom is shrinking, especially following Hurricane Harvey, and a further deterioration in profit metrics beyond our current expectations could lead to negative rating action.
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Slow Deleveraging Profile Headroom under our negative guidance is low with FFO gross leverage at 3.3x at FY16 relative to our negative guidance of 3.5x.
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It wasn't long until a black SUV rolled up alongside him and a man who looked like Max Headroom asked if he wanted a ride.
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TDC has improved leverage headroom within its rating over the past 7503-24 months through a combination of dividend cuts, hybrid securities and asset sales.
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The rear seats have tons of headroom and do feel as luxurious as the A33's €90,600 price tag and status as Audi's flagship would suggest.
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On the downside, though, Cornegy Jr. told the publication that being so tall does come with his hardships — including not having enough headroom on subway trains.
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Nvidia's already greatly improved the headroom of gaming laptops by shipping basically unaltered 21080, 24, and 7993 cards for laptops, instead of scaled down mobile versions.
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At the same time, a period of inflation above the Fed's 2% target would give the central bank more headroom to raise its benchmark interest rate.
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It's not a choice I can imagine many PC gamers with 1080p monitors making when they still have headroom to improve graphical effects or frame rate.
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"This will give us more financial headroom for important investment areas such as local content, platforms and technologies," finance chief Jan Kemper said in a statement.
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Relatively low current tariffs do not leave much headroom for further undercutting as operators risk turning consistently free cash flow negative and never recouping their investments.
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Tauron, Energa and ENEA have limited headroom under their negative rating guidelines due to a projected increase in leverage in 2017-2018 driven by large capex.
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Lai Fung's flagship development project in Hengqin (an island near Macao) does not pressure its ratings, as debt headroom is sufficient to fund the project development.
|
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This greater debt-service headroom means the vast majority of our leveraged finance portfolio could comfortably cope with even an immediate 200bp rise in borrowing costs.
|
|
Fitch's negative rating sensitivities contemplate potential negative rating actions should Fitch expect core leverage to remain above 1.25x, currently providing IBM headroom for modest incremental debt.
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In order to give them some headroom, companies that have borrowed money on October won't have to pay back their loans for the next three months.
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It gives companies a little headroom to raise wages, and it lifts interest rates, leaving the Fed with more room to cut them in a downturn.
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Noble's liquidity headroom — including readily available cash and unutilized committed facilities — fell to $1.4 billion at end-June 2017 from $2.4 billion at end-March 2017.
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Both of these feel like first-generation attempts at this kind of thing, and there is a lot of headroom for improvements to come in later iterations.
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Fitch may also widen the notching if non-performance risk increases, for example, if the bank fails to maintain reasonable headroom above the minimum capital adequacy ratios.
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I became nauseous much quicker than I did in an Oculus, and HTC Vives have much less headroom, making it a struggle to experience VR with glasses.
|
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"They haven't yet turned on the monetization spigot for Messenger or WhatsApp, so there should be significant headroom still," said Jan Dawson, chief analyst at Jackdaw Research.
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The car comes with Koenigsegg's new 9-speed Light Speed Transmission and a new carbon fiber chassis that Koengisegg says gives more legroom, headroom and greater visibility.
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"We need to absolutely make sure the capital ratios are at a level that are sustainable and provide headroom over what final (regulatory) requirements are," Halford said.
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"Mobile search, PLAs and YouTube are all showing strength and we believe have plenty of headroom," wrote Rob Sanderson, an analyst at MKM Partners, in an Oct.
|
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Fitch expects the company's funds from operations (FFO) adjusted net leverage in 2017-2020 to remain below 2x, leaving comfortable headroom below the downgrade threshold of 2.5x.
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Fitch expects the full-year land premium to remain less than 0003% of contracted sales, which have increased; giving the company comfortable headroom for further land acquisitions.
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"We believe there is meaningful monetization headroom going forward as Snap leverages its hard-to-reach audience, builds out innovative ad products, & increases ROI," the analysts wrote.
|
|
Daimler has important headroom in its ratings, with funds from operations (FFO) gross adjusted leverage below 33718.1x and a sustained net cash position at its industrial operations.
|
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High Ratings Headroom: We believe Dialog could potentially receive support from its 83% Malaysian parent, Axiata Group Berhad (Axiata), if its standalone credit profile were to weaken.
|
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Repeal of Obamacare would mean large federal tax cuts for top earners in every state, creating budgetary headroom for states to adopt their own versions of Romneycare.
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With interest rates expected to rise, that could be in prospect for a sizeable number of businesses whose cash flow offers little headroom above their interest payments.
|
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Leverage Headroom, FCF Constrained: We expect Orange's funds from operations (FFO)-adjusted net leverage to remain broadly stable at 103x over the next three to four years.
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Characters are often framed in shots with extra headroom, their environments looming large over their heads, like the history they dare to dig up after their father's death.
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The idea is to get some headroom so the boys would not be reliant on scuba apparatus for a long stretch and could keep their heads above water.
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Streamers should be able to record in 1440p (or 1080p for that matter) without worrying at all about having the performance headroom to simultaneously handle streaming and gameplay.
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The A267's GPU is 230 percent faster, but, as usual, that feels like headroom for the future since these devices tend to stick around for so long.
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Able to carry 2380 passengers in a typical three-class layout, on two full-length decks, the aircraft still feels spacious, with wide aisles and plenty of headroom.
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The company's financial policy nevertheless reduces headroom at the current rating category and leaves its ratings more vulnerable to event risk, including debt-funded acquisitions of significant size.
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KEY RATING DRIVERS No Leverage Headroom PMI's FFO-adjusted gross leverage continued to increase to 3.3x in 2015 (203: 3.2x), above the 3.0x ceiling for PMI's 'A' rating.
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Still, with prices starting at $213,215, there's a lot of headroom to max out a Spectre x360's spec before reaching even the entry-level MacBook Pro's cost.
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"That said, MX is consumed daily as much as the leading TV channel in India, so there's significant headroom to capture larger advertising spends as well," he added.
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Limited rating headroom is also evidenced by the FCF-margin trending now at or just below the 6.0% negative rating sensitivity and which is likely to be volatile.
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The last restructuring was in March 2014 when Cortefiel amended and extended around €1.4bn of debt through a scheme of arrangement which saw covenant headroom extended by 25%.
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Reduced Rating Headroom from FY18: Fitch anticipates that FFO adjusted net leverage could approach 3.0x in FY18 due to the decline in FFO driven by lower pharma margins.
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Headroom under our rating guidance is improving with funds from operations (FFO) gross leverage expected to be around 2.8x by FY18, from 3.3x at FYE August 2015 (FY15).
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Ocado expects the peak cumulative net capital outflow of the initial three CFCs to be 90 million pounds - well within its financing headroom of over 500 million pounds.
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And her presentation — in the first four episodes, she's a kind of Max Headroom figure seen through the news media — feels better suited to this fast-motion story.
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This will provide up to one turn of leverage headroom for the company within its current rating that provides some flexibility to manage operational risks and investment opportunities.
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The second season, which had its premiere in August, found more headroom as it explored Roystar-Wayco's history of sexual-assault cover-ups and indulgence of white nationalism.
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Furthermore, Britain's budget forecasters have said that almost half of Hammond's fiscal headroom might be lost depending on how official statisticians treat student loans in the public accounts.
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"Both M&S and Next have a decent amount of headroom in their rating categories although they face the same challenges as the rest of the sector," said Beadle.
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Should the Monsanto acquisition not go ahead we would likely affirm the 'A' rating, assuming that Bayer will actively manage its balance sheet towards exhausting this ample rating headroom.
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Draghi said the ECB would need to ease policy again, if inflation did not head back to its targets, and that there was still "considerable headroom" to do so.
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Most Italian life insurers have capital headroom relative to their rating level, meaning that they can absorb a degree of capital depletion due to wider spreads without being downgraded.
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Cloud servers usually come with local storage, but you might reach the limit even though you still have a lot of headroom when it comes to CPU and RAM.
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We assume that leverage at UPC is likely to be managed in line or below historic levels over the medium term, leaving limited headroom at the current rating level.
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Reuters photo of the dayMax Headroom Phoenix Suns forward Derrick Jones Jr. attempts a dunk over his teammates in the slam dunk contest during the NBA All-Star game.
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Undoubtedly that makes it hard to scale a pure marketplace model for used cars, without a large amount of funding and plenty of headroom, something that Hellocar didn't have.
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Lendlease benefits from its diversification into investment management, retirement villages and provision of US military housing, which generate stable and predictable revenues and provide considerable headroom to the rating.
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With this action, he has given Lagarde all the headroom she needs to keep monetary policy as loose as she possibly can, even if inflation exceeds the 2% target.
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RATING SENSITIVITIES JHL - IDRS AND SENIOR DEBT Near-term upside for JHL's ratings is limited by the additional debt now being taken on at MidCo1, which diminishes rating headroom.
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However, any operational weakness compressing profit margins, additional investments, or further return of shareholder funds that are not funded by other sources of cash, could erode this financial headroom.
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The main downgrade guideline is funds from operations (FFO) net leverage above 2.5x on a sustained basis, a level that provides rating headroom notwithstanding Fitch's revised expectations for FFO.
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We also highlight the largely utilised liquidity reserve under the committed facilities, and the exhausted leverage headroom of 101146403x calculated on a funds from operations (FFO) adjusted leverage basis.
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Low Ratings Headroom: Fitch expects fund flow from operations (FFO)-adjusted net leverage on a hedged debt basis to fall to around 5.5x in 2016 and 2017 (2015: 6.1x).
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It will provide some extra headroom for the company in the medium and longer-term for potential acquisitions, but there is no imminent acquisition plan, the same source added.
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In addition, the refinancing saw an equity contribution of GBP28 million into the business and provided a GBP45 million revolving credit facility (RCF), resulting in slightly better rating headroom.
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But the Cue infotainment system isn't nearly as good as BMW's excellent iDrive, and the back seat is cramped, headroom is poor, and ingress to the rear is punitive.
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Hammond, under pressure for more public spending after years of austerity, has said he could use that headroom to ease any Brexit shock to the world's fifth-largest economy.
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Implats has a net debt to EBITDA ratio (earnings before interest, tax, amortisation and depreciation)of 0.96 times, with 6.2 billion rand headroom consisting of cash and undrawn facilities.
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With more headroom and elbow space than most backpacking tents, MSR's Hubba Hubba NX 2 sleeps two backpackers with ease (as if the name didn't already allude to that).
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The Department of Homeland Security, which oversees FEMA, already suspended limits on the size of bi-weekly paychecks, which gives employees more headroom before hitting the annual pay limits.
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"Culmination is a vicious cycle: as the government's headroom for running (even) higher fiscal deficits is (virtually) exhausted," the 24th governor of the Reserve Bank of India (RBI) said.
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In other words, there may not be much headroom left for further hikes, especially since the new iPhones are not expected to be substantially different from the current models.
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Headroom for price cuts is sufficient given sound after-subsidy profitability of certain NEVs - especially e-buses - and potential cost savings through economies of scale and battery technology improvement.
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"The chancellor continues to take a low-risk approach to fiscal policy, setting generous fiscal targets with sufficient headroom in case growth slows by more than expected," he added.
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He said that the headroom for the e-commerce market in Singapore is huge as online commerce comprises only a small percentage of overall retail in the city-state.
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You get less headroom for passengers in the rear, you lose out on a lot of cargo space, visibility out the rear window is limited and you're paying more.
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I've been using the Ether 2s primarily with a Schiit Jotunheim, which is just about adequate, but these headphones have vast reserves of headroom to scale up with beefier components.
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Pressure on operating costs will continue to weigh on profitability, but we think conduct fines have peaked at most banks, providing some headroom to offset revenue weakness and higher LICs.
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"The 2.5 gigawatt exemption gives us quite a bit of headroom to import tariff-free cells," he said on a panel at the Renewable Energy Finance Forum in New York.
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But adding an extra set of doors, a rear seat, headroom for those in the rear seat, and some useful trunk space had an effect on the iconic Lamborghini lines.
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We expect deleveraging will continue over 2016-17 with FFO-adjusted net leverage declining to around 3x by 2017, progressively creating headroom against our negative rating trigger of 3.5x leverage.
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While the 2080 Ti certainly offers a lot more headroom for upcoming games like Battlefield V, the RTX 2080 is more than capable of running modern titles at this resolution.
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Large Investment; Adequate Headroom: Fitch believes DTAC's weaker operating cash flows and high capex will lead to negative FCF and an increase in net debt and financial leverage in 2016.
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Headroom remains limited, as we expect TI's FFO adjusted net leverage to remain at around our downgrade threshold of 4.2x in 2016, improving to an estimated 443x by end-2018.
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Limited Rating Headroom: We expect interest costs from additional debt associated with BTSC's electrical and mechanical (E&M) system project to significantly reduce its debt service coverage from cash flows.
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Fitch expects the full-year land premium would still be less than 0003% of contracted sales, which have increased; this would give the company comfortable headroom for future land acquisitions.
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Axtel disclosed that the merger synergy during 7503 was about MXN500 million, with additional MXN500 million headroom to be achieved in 2017 for a total run-rate of MXN1 billion.
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Full or partial equity funding, or divestment of Singtel's stake in NetLink Trust ahead of the Infocomm Development Authority's mandated April 2018 deadline would provide Singtel with additional financial headroom.
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"We have headroom to borrow and are doing so aggressively in the short to medium term in order to address our infrastructure deficit and to stimulate growth," Thursday's statement said.
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"We at the IMF see a particularly strong case to use headroom in the budget to invest more in public infrastructure, such as roads, railways, and digital infrastructure," Lagarde wrote.
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While Deutsche relies on senior debt to meet loss absorbing requirements, it has a surplus of 20210bn-403bn according to its Q240 presentation, leaving plenty of headroom for a buyback.
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Eagle High's increased landholdings and land rights signaled "significant headroom for expansion" of palm oil production, Priscilla Tjitra, an equity analyst for the bank, said in a report to clients.
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The board has therefore decided to reduce the self-imposed headroom between the regulatory minimum and its actual capital level, previously 100 million pounds, on an ongoing basis, it added.
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Budget watchdogs warn that the winner of the 2020 presidential election won't have much budget headroom to work with, constraining their ability to launch new programs and fulfill campaign promises.
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We further anticipate FFO adjusted net leverage to be in the range 2.8x to 3.3x in the next three years, which should mean improved headroom against the negative sensitivity of 4.0x.
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There was a surprising amount of headroom for my 6-foot-tall frame, though, which is thanks to the fact that the seats are bolted to the bottom of the monocoque.
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If growth disappoints compared with the OBR forecasts, the budgetary "headroom" that Hammond has allowed himself could easily be exhausted, resulting in more borrowing, according to the Institute for Fiscal Studies.
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Against these strengths Sky's leverage remains high at a forecast 0003x for the financial year ending June 2017 in our rating case, leaving no headroom against a downgrade threshold of 3.2x.
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You get 970mm of headroom and 892mm of legroom at the rear, plus a generous 10L glovebox and a "mega bin" in the center column that can accommodate two wine bottles.
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Compared with China South City Holdings Limited (CSC, B/Stable) and Hydoo International Holdings Limited (B-/Stable), Wuzhou faces greater financial risk because of lower leverage headroom to sustain ongoing capex.
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Compare with China South City Holdings Limited (CSC, B/Stable) and Hydoo International Holdings Limited (B-/Stable), Wuzhou faces greater financial risk because of lower leverage headroom to sustain ongoing capex.
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However, Fitch expects the leverage headroom to be small as CNLP's unsecured assets/unsecured debt coverage was only 1.1x and will continue to hover around 1x in the next three years.
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Less Debt on Better Terms The replacement of public debt with a new senior term loan will extend maturity headroom to five years post-refinancing, while significantly lowering debt service cost.
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"Unfortunately, if other steelmakers gain in terms of higher prices thanks to consolidation, this may only provide them more headroom to maintain the status quo for years to come," he said.
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Mitie said it would also begin talks with its lenders to change its banking arrangement as it expected to have only limited headroom as of March 31 under its current contract.
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If you're a tall person, the coupé roofline makes for a lack of rear headroom, but it's not impossible for the AMG CLS 53 to serve as a high-performance limo.
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Our forecast of a persistently elevated leverage until the financial year to September 2018 constrains rating headroom for M&A or for a step-up in shareholder distributions, including share buybacks.
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So while short-term rates are only just above zero, monetary policy is not as accommodative as it might appear, and the Fed has less "headroom" to raise rates, he said.
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Under the plans outlined on Wednesday, Mr. Hammond created $31 billion of "headroom" that will give him the resources to stimulate the economy, should the exit negotiations founder, dragging down growth.
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However, this is unlikely in the short- to medium-term term, given the large ratings headroom LIQUIDITY Solid Liquidity: We forecast Telkomsel to maintain its net cash position over FY17-FY19.
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Taking into account the market structure and exposure to broadcast TV, EIT's ratings are currently positioned towards the lower end of the 'BBB' rating level, with limited headroom within its leverage metric.
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So the renewed rise in benchmark oil prices is unlikely to be welcomed by the White House, but prices might have headroom to rise by another few dollars before drawing another intervention.
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Singapore Telecommunications Limited's (A+/Stable) rating headroom remains limited, as its FFO-adjusted net leverage is likely to stay close to Fitch's 2.0x negative guidance because of high capex and dividend commitments.
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Fitch limits the rating differential between the two companies to one notch, primarily because of the present sizeable headroom within Together's restricted payment basket under the terms of FinCo's senior secured notes.
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These changes have been applied to the sector as a whole and are not unique to India, but their timing suggests the RBI has felt pressure to provide headroom to state banks.
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Capital Economics' Chief Markets Economist John Higgins projected in a note Tuesday that even with euro zone bond yields at all time lows, there is still headroom for the rally to continue.
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Nemo Equipment Losi 2P Three-Season Tent for $231 ($99 off): Nemo's award-winning backpacking tent is known for its creative pole design, which creates a lot of headroom for the weight.
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Pour some diluted dish soap or diluted all-purpose cleaner in a small bowl, leaving enough headroom to accommodate a toothbrush or small rag (here, again, a washcloth is a great choice).
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However, Aamal's weight will only increase to 28 percent from 20 percent because of shareholding limits, FTSE said, while Qatari Investors Group's weighting will not change because it failed a headroom test.
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While Fitch forecasts Quechan's liquidity to remain stable, there is little headroom for deterioration in casino operating performance in terms of the casino transfers being able to cover the tribe's governmental budget.
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PrivatBank's nationalisation highlights the importance of fiscal consolidation to expand fiscal headroom to absorb shocks and stabilise government debt, and the challenge of anchoring the fiscal gains of the last two years.
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The bonds, which are governed by the laws of France, will be issued to repay EUR2110m of senior unsecured bonds maturing in 21000, hence improving the group's financial headroom and maturity profile.
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Cash Allocation Strategy: Fitch believes that CNHI has limited headroom for M&A and shareholder-friendly policies compared with its peers and will continue channelling available cash for debt repayment and capex.
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KEY RATING DRIVERS --The company maintains decent headroom under the 2.0x gross leverage level Fitch considers appropriate for the 'A-' rating after incorporating the effect of a recently announced $2 billion ASR.
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Rating headroom for Telkom's IDRs remains large, although FFO-adjusted net leverage is likely to increase to around 7503x in 2017 and 2018 (2016: 0.5x) on high capex needs and dividend commitments.
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"And if we make buildings more resilient to floods and heat, and more effective at using water resources, then we can create more headroom for adaptation to more extreme events," he said.
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They stripped and reseated the main auditorium to create better sightlines, rebuilt the studio theatre to give it more headroom and greater technical capacities and extended the stage and back-of-house facilities.
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Low Ratings Headroom: HT Global's ratings are constrained by leverage that is higher than most IT peers, which typically have minimal debt as these businesses generate stable cash flows and require minimum capex.
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Built from both an actual hot tub and a real DeLorean chassis complete with functional gull wing doors, the car can be raised or lowered to create more headroom for taller party guests.
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However we believe the rating headroom is now much reduced following weaker-than-expected operations so far in 2017 due to geopolitical issues as well as rising costs and sluggish top-line growth.
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"Having this headroom and flexibility is going to drive a lot of innovation and new applications" for the auto industry, the ARM executive said, referring to new ARM-based chips built by customers.
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And given price pressures are largely contained in places like China and Japan as well as smaller economies including Singapore and Indonesia, policymakers will have headroom to boost stimulus if the need arises.
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Johnson has said he is willing to funnel more money into public services, using the previous government's so-called "fiscal headroom", which had been earmarked to support the economy through a no deal.
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Debt reduction over the last two years has increased SABM's rating headroom against its FFO-based net leverage sensitivity threshold of 3.0x, enhancing SABM's ability to absorb potential negative impacts from FX volatility.
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Du said that while there is "immense" short-term pressure facing China amid domestic challenges and the trade war with the United States, steady consumer price inflation provides headroom to tweak monetary policy.
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After driving the GTR, I didn't hesitate for a second to ask, to which they humbly said that it's seconds faster than their own McLaren 720S GT3 car, and still had some headroom.
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Small- and mid-sized companies in America, the borrowing costs are going to increase, so they are basically giving themselves some headroom to end the tightening cycle a little early if it's needed.
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Most famously, still-unidentified hackers hijacked TV signals in the Chicago area in 1987, broadcasting footage of a person wearing a Max Headroom mask and a man's bare buttocks being spanked with a flyswatter.
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The bank's capital position is not as weak as the market takes it, but it's clearly one of those banks that does not have as much headroom as CoCo investors would like to see.
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At present there is some £27bn ($34bn, or 1.2% of GDP) of fiscal headroom, which would have allowed Mr Hammond to give the economy a one-off boost in the event of a slowdown.
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"To be perfectly honest, I would probably never give [Max Headroom] a second thought, beyond the fact that people email me or call me [about it] probably four, five times a year," he said.
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Draghi said the ECB, which has consistently undershot its inflation target of just under 2% since 2013, could still cut rates, adjust its interest rate guidance and had "considerable headroom" for more asset purchases.
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Limited Rating Headroom: Fitch expects IBREL's leverage to remain high until FYE21000 because the company is likely to use the improving cash flows from its property-development business to expand its investment-property portfolio.
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Nonetheless, GTM thinks that if robot vendors work more cooperatively with module vendors, costs come down a bit more, and some big incumbents get in the game, the market has a lot of headroom.
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By declaring that the ECB had "considerable headroom" to ease monetary policy, Mr Draghi was trying to convince sceptical investors that the central bank would be able to boost the euro area's flagging economy.
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"Our growth plans will require significant investment in people, products, technology and brands over the next years," said Doepfner, adding that the strategic partnership with KKR would create headroom for organic investments and acquisitions.
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"Even as past rate cuts are being gradually transmitted to the real economy, the benign inflation outlook provides headroom for policy action to close the negative output gap," the MPC said in its statement.
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"In subsequent years, the reduction in employee numbers will have a significant positive impact on the operating costs of the group, creating additional headroom to reduce prices and improve value for customers," it said.
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We expect headroom to continue to improve, and to be sufficient to absorb a potential acceleration in bolt-on M&A activity, which we assumed at up to EUR200123 million annually in our projections.
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Moody's warned that the combined $2.1 billion in debt due over the next 12 months cannot be covered by Noble's liquidity headroom, and said the company is unlikely to return to profitability this year.
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Johnson has said he is willing to funnel more money into public services, using the previous government's so-called "fiscal headroom", which had been earmarked to support the economy through a no-deal scenario.
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"We have a relevant headroom to go on for quite a long time at this rhythm without the need to raise the discussion about limits," he told a regular news conference after the meeting.
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While all Fitch-rated life insurers have headroom above the regulatory minimum, smaller firms that would not have met the requirement without transitional measures may become takeover targets or opt to enter run-off.
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BANK OF ENGLAND GOVERNOR CARNEY SAYS THERE IS SUFFICIENT HEADROOM TO AT LEAST DOUBLE THE AUGUST 2016 PACKAGE OF 60 BILLION POUNDS OF ASSET PURCHASES, A NUMBER THAT WILL INCREASE WITH FURTHER GILT ISSUANCE
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The increasing leverage is likely to narrow CCL's headroom within its rating unless the company is able to fend off the challenges of increasing competition and continued structural challenges in the Australian beverage market.
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Insofar as the present offering's proceeds are used for paying down existing debt, Fitch continues to expect IHS Markit to maintain roughly 0.2x to 0003x headroom to Fitch's negative rating sensitivity over the rating horizon.
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KEY RATING DRIVERS Adequate Leverage Headroom: Leverage is comfortable for DT's rating with Fitch-defined funds from operations (FFO)-adjusted net leverage estimated to have improved slightly at end-0003 from 3.4x at end-2015.
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KEY RATING DRIVERS Lower Rating Headroom: Globe's FFO-adjusted net leverage is likely to increase to around 2.7x-3.1x in 2016-653 (2015: 1.9x), due to higher capex and slower EBITDA growth as competition intensifies.
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Hammond said the government was on track to meet its future fiscal targets and there was significant headroom in his budget for flexibility on spending or tax decisions, but Brexit was stalling longer-term planning.
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Fitch believes the regained financial flexibility provides management with sufficient rating headroom to pursue their turnaround strategy in the UK and continue to repair the group's business model, notably through their newly implemented property strategy.
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"Because interest rates in the UK are higher than they are in the euro zone, they have a lot more headroom to buy gilts rather than move into other areas of the market," he said.
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From a positioning perspective, short positions remain high, creating the potential for more short-covering to support price gains, while long positions are low, leaving plenty of headroom for funds to add to their holdings.
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Others at risk include BMW, Peugeot (BB/Positive), Volkswagen (BBB+/Negative) and Daimler (A-/Stable), which all generate 21387%-203% of unit sales and revenue in the UK. Peugeot and Daimler have substantial ratings headroom.
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Transaction Improves Financial Profile: The completed refinancing has reduced gross debt to EUR425 million (excluding the EUR30 million RCF) from EUR440 million and will provide increased leverage and financial flexibility headroom at the current ratings.
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Should you require a little more headroom, there's the £3,800 ($4,840) Uniti Nova, which drops the CD drive in order to maximize space for its amp circuitry and raises the limit to 80W per channel.
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However the Stable Outlook balances the improved financial headroom against the increasingly high risks in the tour operator business, particularly structural changes, intense competition and a more uncertain economic outlook within its key end markets.
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This temporary reduction in liquidity headroom is partially relieved by a potential drawdown from its newly signed USD173bn borrowing base facilities, and will increase post-realisation of planned equity placement and non-core asset sales.
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"The combined sum of the financing package gives us considerable balance sheet strength and working capital headroom so we can continue to push through this period of market weakness," Altura Managing Director, James Brown, said.
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The latter is more likely if the capital ratios fall in the capital buffer zone, although this risk is mitigated by Tiknoff's stable financial profile and general policy of maintaining decent headroom over minimum capital ratios.
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Fitch's analysis shows that Vodafone has limited headroom within its current rating over the next two years due to exceptional capex relating to the completion of Project Spring and substantial spectrum investments in Germany and India.
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IHS Markit's offering underscores Fitch's stated expectation at the time of its affirmation that the company will likely continue to operate with reduced headroom due to higher share repurchases, expected acquisitions and associated future debt issuance.
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CVB's loan-to-deposit ratio stood at 70% as of 2Q17, one of the lowest in its peer group and a level that provides headroom for optimization of the deposit mix in a rising rate environment.
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The final accord dropped a previous draft proposal, seen by Reuters, to create fiscal headroom by adjusting the formula used to calculate debt burdens in the EU, and contained nothing questioning Italy's membership of the euro.
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Sure, having the fastest 0–60 mph time might be a simpler concept with much broader appeal (you don't tend to see Nürburgring times in dealership materials), but there's much less headroom left in that fight.
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Lenta is rated at the same level as X5 Retail Group N.V. (BB/Stable) but has less headroom under its 'BB' rating, primarily because Lenta has lower scale and format diversification despite its stronger coverage metrics.
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Liquidity remains healthy with an available cash position of AED1.4 billion as of 1H17 coupled with sufficient headroom under the committed undrawn facilities at corporate level of AED13 billion in 1H17, with extended maturities beyond 2020.
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"No matter what the economic circumstances are, no matter what the backdrop is, there's this dynamic that companies like to lowball and analysts like to give them headroom," said Ed Keon, chief investment strategist at QMA.
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As the game's many pop culture references remind us, Technolust is Blade Runner rolled into Snow Crash, Max Headroom, Transmetropolitan, and several other cultural touchstones, topped off with an increasingly popular kind of '80s retro-futurism.
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The rating affirmation is based on our expectation that solid cash flow generation should enable FFO adjusted net leverage to further reduce to 4x-4.8x over FY17-FY7503, creating a comfortable headroom under the current rating.
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Alphabet-owned "Google continues to grow very fast off a large base, and we believe there is considerable headroom for both mobile search and YouTube over time," analyst Doug Anmuth wrote in a note to clients.
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Because as strong as Roku's position appears to be in the exploding "connected TV ad market," the company's aspiration to build the advertising infrastructure for TV's future is likely to run out of headroom — maybe soon.
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BDO's CET1 ratio had fallen to 11.3% at end-June 2016 on a consolidated basis (end-2014: 12.4%), which was adequate based on current regulations, but would have left limited headroom above the higher incoming requirement.
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AngloGold, which also has operations in Ghana, said it has drawn down $1.4 billion on its U.S. dollar revolving credit facilities for a $700 million bond redemption due mid-April and to provide additional liquidity headroom.
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KEY RATING DRIVERS Weak Metrics, Lower Headroom: Fitch expects Telstra's leverage, as measured by funds flow from operations (FFO)-adjusted net leverage, to remain elevated, but within guidelines for the rating, reflecting higher capex and shareholder returns.
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It searches 40,000 dealerships and private sellers for cars, and its 59 search filters include every conceivable parameter to find your dream car — even obscure ones like driver height, so you find a car with enough headroom.
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Armed with 401.4 million pounds in cash, with headroom of 218 million above the regulatory capital it is required to hold, Gilbert said he was open to bolt-on acquisitions, although there was nothing in the pipeline.
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Therefore our forecasts assume a deterioration in the financial risk profile beyond 2017 with FFO adjusted net leverage approaching 2.5x, which we expect to comfortably fall within the enhanced financial headroom available at the 'A' rating level.
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The rating headroom is limited because Fitch expects IBREL's leverage to be high in the next few years as the company uses improving collections in its property development business to fund expansion in its investment-property portfolio.
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He has built up £27bn of headroom in 2020-21, relative to his self-imposed fiscal targets for that year, so as to be able to boost the economy in the event of a no-deal Brexit.
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RATE CUTS, QE Draghi said the ECB, which has consistently undershot its inflation target of just under 2% since 2013, could still cut rates, adjust its interest rate guidance and had "considerable headroom" for more asset purchases.
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He has said spending could be financed using the 27 billion pound "fiscal headroom", an amount of extra borrowing possible without breaking a budget deficit cap of 2% of GDP introduced by former finance minister Philip Hammond.
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A more favorable macroeconomic environment, though, could give Kate Spade "a bit more headroom to execute its growth strategy," and it will help Coach grow its reach globally, Siegel has said about the combination of the two.
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At the current rating level, Fitch calculates that BUT's cash from operations generation capacity, measured as FFO after change in working-capital needs, provides some headroom for network development through owned store openings or bolt-on acquisitions.
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While this does imply plenty of headroom for a sustained rally, it also implies that sustained tightness is needed in the market, meaning that new supply shouldn't arrive too quickly or it will risk stifling the recovery.
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In addition to increased headroom for power delivery (up to 100 watts), USB-PD also has some fancy features like multi-directional charging, and flexible power management (devices can signal when they need more or less power).
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At a speech in Sintra, Draghi said the ECB could still cut rates, adjust its guidance, offer mitigating measures to counter the unwanted side effects of negative rates, and also had "considerable headroom" for more asset purchases.
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LONDON, Oct 12 (Reuters) - Britain's newly-announced retail energy price cap should allow providers enough "headroom" to compete within the market, business minister Greg Clark said on Thursday following the publication of draft laws on the policy.
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However, STP's management may have to take a disciplined approach to future acquisitions given their commitment to deleverage and low headroom on its incurrence covenant (net debt/last quarter annualised EBITDA of 5.5x) in its unsecured bond documents.
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Capital discipline was the priority, he said, adding that a $7 million headroom for further share buybacks this year, out of a $10 million programme, was an option to be tapped but might not necessarily be used fully.
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Lloyds rose 1.6 percent after it cut its target for its Common Equity Tier 1 ratio - a closely watched measure of balance sheet strength, with Goodbody analyst John Cronin saying that meant more headroom for distribution to investors.
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At a speech in Sintra, Portugal, Draghi said the ECB could still cut rates, adjust its guidance, offer mitigating measures to counter the unwanted side effects of negative rates, and also had "considerable headroom" for more asset purchases.
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The MacBook Pro gives you noticeably more headroom for this kind of multitasking work, so you don't have to worry as much about opening that one extra app or browser tab that can slow down the MacBook Air.
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He has said he will tap into the 27 billion pounds of "fiscal headroom" that has built up in the public finances, referring to the difference between the government's target for the budget deficit and its projected size.
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LONDON (Reuters) - Britain would need to spend all its existing, 27 billion-pound ($34 billion) "fiscal headroom" and more to offset the impact on the economy of a no-deal Brexit, finance minister Philip Hammond said on Tuesday.
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He has said that spending could be financed using the 27 billion pound "fiscal headroom", an amount of extra borrowing possible without breaking a budget deficit cap of 2% of GDP introduced by former finance minister Philip Hammond.
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LONDON, March 13 (Reuters) - British finance minister Philip Hammond said he now had 26.6 billion pounds of fiscal "headroom" -- which is earmarked for possible increased spending or tax cuts -- up from a previous estimate of 15.4 billion pounds.
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Johnson has said that spending could be financed using the 27 billion pound "fiscal headroom", an amount of extra borrowing possible without breaking a budget deficit cap of 2% of GDP introduced by former finance minister Philip Hammond.
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In 2015 the group raised a further EUR20150m (due 21399) under its euro medium term note programme and PLN244m (due 3530) under its Polish medium term note programme, contributing to year-end headroom under borrowing facilities of GBP2530m.
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KEY RATING DRIVERS Low Rating Headroom: Fitch expects Singtel's FFO-adjusted net leverage for the financial year ending March 2017 (FY17) to be around 2.0x (FY03073: 2.1x); near the level above which we may consider negative rating action.
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In a direct challenge to EU fiscal rules, the draft accord also wants the bloc to create fiscal headroom for spending by adjusting the formula used to calculate Italy's debt burden, which the rules say must be reduced.
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AngloGold, which also has operations in Brazil and Ghana, said it has drawn down $1.4 billion on its US dollar revolving credit facilities for the $700 million bond redemption due mid-April and to provide additional liquidity headroom.
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Fitch thinks that it is still too early to assess the possibility of LVGEM executing its option to sell parts of the office building to deleverage, but the option remains and will provide leverage headroom for the company.
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There's a wealth of headroom and legroom, 29 cubic feet of storage space in the back (accessible via a hatch door), and 4.8 cubic feet of storage in the front trunk where the internal combustion engine usually lives.
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"We believe the decision is positive for the company over the long term as it would create enough headroom on the balance sheet to lead industry consolidation," said Goldman Sachs analysts, who have a "neutral" rating on the stock.
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This gives it enough headroom to stay above 10.123 fps almost all the time, and for times like intense firefights when things dipped below 60, the Y920's G-sync-enabled helps make gameplay look as smooth as possible.
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The latter is more likely if the capital ratios fall in the capital buffer zone, although this risk is somewhat mitigated by Alfa's stable financial profile and policy of maintaining reasonable headroom (about 150bps-200bps) over minimum capital ratios.
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Headroom Under Current Covenants: Transocean, as provided in its bank credit agreement, is currently subject to a maximum debt-to-tangible capitalization ratio of 0.6x (0.34x as of June 30, 2017), excluding intangible asset impairments and certain other items.
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The euro fell 0.24% to 1.1191 as of 0845 GMT after Draghi said the ECB will need to ease policy again, if inflation doesn't head back to its targets, and that there was still "considerable headroom" to do it.
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Dell also managed to cram in new vents for the XPS 13 2-in-1 behind its hinge, and with its active cooling, there's enough thermal headroom to support much faster processors than what was available on previous models.
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Previously the BoE has said rates would need to reach around 2 percent before it started to sell its 435 billion pounds ($603 billion) of government bonds, in order to give headroom for future rate cuts during a downturn.
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Pros: Fits shorter truck beds easier than a standard truck tent, weighs just 10 pounds, features glow-in-the-dark zipper pulls, and has fully-taped seamsCons: Less than five feet of headroom can feel cramped for taller campers
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Headroom Under Current Covenants: Transocean, as provided in its bank credit agreement, is currently subject to a maximum debt-to-tangible capitalization ratio of 0.6x (0.34x as of June 103, 2017), excluding intangible asset impairments and certain other items.
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"These figures back up outgoing Bank of England Governor Mark Carney's suggestion that there is clear headroom to cut interest rates to stimulate the economy if required," said Robert Alster, head of investment services at Close Brothers Asset Management.
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The rating headroom of Bharti Airtel (BBB-/Stable), the market leader, is likely to narrow as Jio's high data-allocation plan will hit its premium customer base, which accounts for most of the profitability at its Indian mobile segment.
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Taken together, the data suggest economic growth is still expected to easily meet or beat the government's full-year target of around 6.5 percent and signaled that China has sufficient headroom to keep policy tight over the next year.
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Hammond said in March that he had nearly 27 billion pounds ($34 billion) in fiscal headroom - equivalent to the difference between the target he has set himself for the budget deficit and the shortfall projected by Britain's budget forecaster.
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While Fitch still expects leverage to remain below 3.0x over the rating horizon, there is less headroom for commercial challenges owing to sector headwinds, and as a result there will be increased reliance on attaining margin expansion and expected revenue uplift.
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Snap said users spend an average of 30 minutes a day in the app, and that the number of ads being shown today is likely to increase, giving it headroom to boost revenue per user and move closer to profitability.
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The question, though, is how long that will remain the case: without the space or power headroom for another graphics card, you're basically left hoping that buying the greatest parts today will keep you going for a good few years.
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"The Q1.663 forecast is below expectations probably to give them some headroom given the holiday period is always a bit less predictable, but Black Ops 4 looks like it's off to a strong start," Atlantic Equities analyst Kunaal Malde said.
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Well, Corsair's first product to feature Capellix LEDs is a new Dominator Platinum RGB memory stick, which the company says has been tweaked with more aggressive timings because of the extra power headroom allowed by the LEDs consuming next to nothing.
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In 2013, Motherboard published one of the most comprehensive articles on the subject, but this week—to celebrate the anniversary of the Max Headroom hack, I caught up with Dan Roan and Chuck Swirsky—the local newscasters Max interrupted and mocked.
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"This would absorb almost half the government's current headroom of 1.2 per cent of GDP against the fiscal mandate, as well as making a balanced budget harder to achieve," it added, responding to finance minister Philip Hammond's spring budget statement.
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This has reduced the bank's stock of liquid assets and further erosion in the bank's liquidity buffer would put pressure on the VR. This may also put pressure on earnings, given limited headroom below the regulatory loans/deposits ratio of 90%.
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This is where disruptive technologies come in (and I despise the d-word but I'll use it in this context.) The assumption that comes with "disruptive" technologies is that there is still plenty of headroom for new improvements to take root.
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That leaves you with much more headroom to play with the intensity and dynamics of the sound and emotion I might actually have a tendency towards reduction in most other areas of my life but it's just some intuitive thing.
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"While the mix of ad revenue differs from expectations, we believe it shows the sustainability of search growth led by mobile, and the headroom for YouTube, especially as bigger TV dollars begin to shift online," JPMorgan's analysts wrote in a note.
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NUSA DUA, Indonesia (Reuters) - Italy must respect European Union budget rules with its 2019 budget and improve public finances if it wants to create headroom to loosen fiscal policy during the next economic downturn, a top International Monetary Fund official said.
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Limited Rating Headroom: Lippo's leverage stood at 173% at end-March 2016, lower than the 48% at end-2015 supported by cash collected on presales made in prior years, capex cuts, as well as a strengthening of the Indonesian rupiah.
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Fitch does not see much headroom for further M&A under Syngenta's current rating and any significant M&A that could harm the deleveraging of Syngenta to expected levels would be likely to have a negative impact on the rating.
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Nevertheless, we expect Lippo to finalise the sale of Lippo Kuta Mall and Lippo Plaza Jogja/Siloam Hospitals Yogyakarta in the next three to six months; both the REITs have sufficient headroom on their balance sheets to purchase the earmarked assets.
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Low Rating Headroom: For 2018, our rating case forecasts FFO-adjusted net leverage reducing to 3.1x and FFO fixed-charge coverage reducing to 2.3x, compared with the levels at which Fitch would consider negative rating action of 17273x and 2.0x, respectively.
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The latter is more likely if the capital ratios fall in the capital buffer zone, although this risk is somewhat mitigated by Alfa's stable financial profile and general policy of maintaining decent headroom (about 150bps-200bps) over minimum capital ratios.
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Both men have said they will tap into the £211 billion of "fiscal headroom" that has built up in the public finances, referring to the difference between the government's target for the budget deficit and its projected size, which is lower.
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The ratings also factor in the increase in leverage following acquisition activity conducted in 33718 and allows for some headroom for additional possible bolt-on acquisition spending over 21750-21000, in particular reflecting Henkel's newly announced corporate strategy - Henkel 2110+.
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Hammond said in March he had nearly 27 billion pounds ($34 billion) in fiscal headroom - or the difference between the target he has set himself for the budget deficit and how big Britain's budget forecaster think the shortfall will be.
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I played latest Gears last month and yet I played through a good chunk again — for TechCrunch's readers, of course — and for the first time in a Gears game, felt like the system had enough headroom to provide the smoothest possible experience.
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Nvidia's GTX 1080 Ti was always close to (or achieved) the 4K / 60 ideal, and as these performance gains are only being revealed with the RTX 2080, the RTX 2080 Ti should have some reasonable headroom for modern titles at 4K / 60.
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Despite being predominantly debt-funded, the transaction will use headroom available under the current rating, as Fitch estimates consolidated funds from operations (FFO) adjusted net leverage upon completion to peak at 21292x in 244, comfortably within Fitch's negative rating sensitivity of 220x.
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But Hammond is still likely to have around 13 billion pounds of headroom to meet his goal of keeping borrowing in 2020/21 under a self-imposed cap of 2 percent of gross domestic product (GDP), said Samuel Tombs of Pantheon Macroeconomics.
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Fitch also forecasts adequate headroom under Fitch's 2.5x total leverage (total debt to operating EBITDA) sensitivity to draw on the $700 million RCF should FCF fall short of expectations but would also expect Seagate to repay borrowings within the subsequent near term.
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The company said cancelling its dividend will save it 700,000 pounds ($808,220.00) of cash, adding that it has 16 million pounds cash headroom and a "strong relationship" with its bank, Barclays, as well as with its founder and major shareholder, Tom Joule.
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Brainard's comments show she believes that stimulus from tax cuts and government spending are lifting the neutral level of interest rates above which higher borrowing costs slow investment and hiring, giving more headroom for the central bank to lift rates without impeding growth.
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But that doesn't mean this isn't Apple's fastest chip ever, and it's great to see the company continuing to give us more processor headroom for computing tasks — particularly if it's true that Apple's future Macs will run on these ARM-based processors, too.
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The bill came as the result of a 2011 standoff over the US debt ceiling, when Republicans in Congress demanded spending cuts in exchange for giving the Obama administration the needed legal headroom to pay the federal government's obligations to its bondholders.
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So even if the S&P blipped higher another 3 percent to retake the former highs fairly soon, it's likely that valuation and sentiment would be less extended this trip — leaving a bit more headroom for a foray into fresh record territory.
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Ireland is likely now to have room for almost nine more months of ECB purchases at 500 million euros per month, up from just over seven months of headroom in August, estimated Ryan McGrath, head of fixed income strategy at Cantor Fitzgerald.
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AccorHotels said a plan to turn property unit HotelInvest - whose assets are worth 6.6 billion euros ($7 billion) - into a subsidiary in 2017 ahead of then selling the majority of its capital to institutional investors would give it significant headroom for expansion.
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The shift in regulatory buffers has had no immediate impact on our AT10 ratings because we consider the standalone financial profile, including financial flexibility of each bank and the actual and expected headroom above each issuer's combined buffer requirements remains consistent with the AT21464 ratings.
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One of them wearing a mask of fictional AI TV host and New Coke spokesthing Max Headroom, the pranksters hijacked two stations that November evening—first WGN-TV, and two hours later an even more memorable takeover of WTTW during a broadcast of Dr. Who.
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KEY ASSUMPTIONS Fitch's key assumptions within the rating case for MAF include: - continued revenue growth at the group level with stable EBITDA margins for the forecast period; - vacancy rates for comparable shopping malls to remain low; - ample headroom under committed available revolvers; - stable dividend policy.
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Rishi Sunak, Johnson's new deputy finance minister, told Sky News on Thursday there was 26 billion pounds ($32.4 billion) of "headroom" for more spending, although he said he wanted to keep the rule that debt should fall as a percentage of economic output each year.
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Negatively, the long-term growth headroom would be limited given an increasing importance of pay-TV and internet as alternate advertising platforms, while the entrance of Grupo Imagen, the new broadcaster which started its operations in 211Q21500, could gradually encroach on TV Azteca' market share.
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The move is broadly in line with Fitch's expectations (see "Fitch: No Rating Impact on Bertelsmann from Stake Increase in PRH" dated January 2017) and will not impact Bertelsmann's rating due to the company's strong retained free cash flow, reduced dividend leakage and leverage headroom.
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Measured Financial Policy Clearly stated financial policies, including a commitment to a 'BBB+' target rating, public guidance on free cash flow and a progressive but measured dividend policy, underline Fitch's rating-case expectations of moderately improving leverage and a relatively high degree of ratings headroom.
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Fitch expects CCL's financial results for 2017 to be weak due to deteriorating trading conditions in both grocery and non-grocery channels in Australia and expects that CCL's headroom within its rating will narrow over the rating horizon in the absence of any countermeasures.
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It's very hard to judge processor improvements in a demo setting, but the A12 Bionic in the XR already had so much headroom that it's hard to see how that will be a noticeable improvement for the target market here in the near term.
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KEY RATING DRIVERS Limited Rating Headroom: We view the near-term financial profile of AZ as stretched compared with our rating sensitivities due to current pressures from intensifying generic competition, investment in its R&D base and front-loaded restructuring costs to protect profitability.
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Although the gap narrowed during the global financial crisis as market values saw a steep decline about 2,000 of the total 8,125 municipalities in Spain are considering raising their cadastral values in 5003, which implies headroom for increasing the registered real estate asset base.
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Image: QualcommQualcomm also says that because of the smaller physical dimensions of its chips version traditional x86 processors, laptops running Windows 10 on Snapdragon should have more thermal headroom and thus more consistent peak performance, and smaller physical motherboards which means more room for bigger batteries.
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Downgrade Improves Financial Headroom, FCF Remains Weak Fitch expects near-term financial leverage to stabilise with FFO adjusted net leverage at 2.0x and FFO fixed charge cover of greater than 8.5x over the next two years, despite continued negative FCF generation due to significant dividend distributions.
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Put it this way: the asymmetric-risks story many of us have been using to argue against rate hikes is also a reason to consider increased public investment a valuable insurance policy, giving the economy headroom that might turn out to be crucial if anything goes wrong.
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Large Rating Headroom: Fitch expects Protelindo's FFO-adjusted net leverage for 13 to increase to around 2.3x-2.5x (2015: 2.1x), as the IDR3.6trn acquisition of PT XL Axiata Tbk's (XL, BBB/Stable) towers in Indonesia offsets cash proceeds from the EUR112m tower sale in the Netherlands.
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In our view, a balancing act would be to stick to the 3 percent of GDP target for the core fiscal deficit, and, if necessary, use extra headroom of strictly under 0.3 percent of GDP for compensating states for implementing the Goods and Services Tax (GST).
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COMMITMENT TO SHAREHOLDER RETURNS LIMITS RATINGS HEADROOM Agilent's commitment to return 85% of pre-dividend FCF to shareholders through dividends and share repurchases reduces flexibility at the current rating level, as the company plans to finance the share repurchases by issuing $0003 million of annual incremental debt.
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"The biggest thing that's being missed today is that the Fed has to cut to provide headroom for the global economy, particularly in places like Hong Kong where their exchange rates are pegged to the US dollar," said Jay Hatfield, portfolio manager at InfraCap, in emailed comments.
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He continues to act as president of the Freedom of the Press Foundation, beaming into his colleagues' computer screens like Max Headroom—and occasionally into a mobile telepresence robot—to lead a team of programmers and engineers focused on building tools designed to improving journalists' digital security.
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KEY RATING DRIVERS Limited Rating Headroom: Fitch downgraded RSM's rating in March 2017 from 'BBB+' to reflect its rising leverage due to continued negative free cash flows and a delay in achieving our recurring EBITDA expectation, a view we still hold after reviewing its 05003H17 results.
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However, of Russia's 10 D-SIBs, three had only moderate headroom in the Tier 103 ratio (the main potential bottleneck) over the minimum level (6.7% including buffers; it will be increased to 7.6% in 2017), these are GPB, Alfa-Bank (both at 7.9% at end-9M16) and PSB (6.8%).
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Footprint expansion through acquisition of small operators; - The Multimedia Polska acquisition effective on a pro-forma basis from 2017; - Available cash up-streamed through shareholder loan payments subject to covenant headroom and Fitch's assumption that leverage is likley to remain lower at UPC than in other LG credit pools.
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Meanwhile, 4K gameplay and ray tracing is out of the question for current Nvidia GeForce graphics cards, but thanks to the headroom afforded to me by the 850 watt power supply, I'll be able to just swap out these cards for an RTX 2080 once those are available.
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Fitch has limited the rating differential between the two companies to one notch, primarily because of the sizeable headroom within JHL's restricted payment basket under the terms of the senior secured notes (50% of post-June 2013 accumulated net income, equivalent to around GBP0003m at end-June 2016).
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Given Pernod's improved balance sheet, we assume that it might look for these purchase opportunities more actively, and project expenditure of up to EUR500 million per year for small to medium-size acquisitions, instead of larger debt-funded transactions, which the rating has more limited headroom to absorb.
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Sunak said new finance minister Sajid Javid would be setting out more details on 'no deal' spending plans this week, but cited the "fiscal headroom", an amount of extra borrowing possible without breaking a budget deficit cap of 2% of GDP introduced by former finance minister Philip Hammond.
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The affirmation reflects our view that on a standalone basis Ahold will maintain adequate rating headroom at the 'BBB' level, despite its business model remaining under competitive pressure and a fairly aggressive financial policy (reflected in over EUR3.5bn in share buy-backs and capital repayments over 2013-2015).
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To his credit, the president-elect recently made some headroom when it comes to taking on his party by objecting to a measure that would put lawmakers in control of the Office of Congressional Ethics, the independent body created in 2008 to investigate the allegations of misconduct by lawmakers.
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Although not included in our forecasts, we would expect that a continuation of this programme, in the absence of other material investments, if funded through the issuance of new debt, could result in slower deleveraging prospects and limited headroom under the maximum threshold of 3.5x compatible with its rating.
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While the headroom is better than peers' such as Telefonica SA (BBB/Stable) and Deutsche Telekom AG (BBB+/Stable), organic deleveraging capacity and free cashflow generation is slightly more constrained as a result of network capex, which we do not envisage a significant decline in the next three years.
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This is precisely what happened to the last batch of Core-i9 MacBook Pros that Apple released, and while Apple was able to alleviate some of those issues through a software update, there's only so much you can do before the MacBook Pro's cramped internals run out of thermal headroom.
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The documents contain figures for the first nine months of 24, and show that the cash and current assets of HNA Group International Company Limited (HNAI) cover its current liabilities - debts and payments due within a year - with just 2300 percent headroom, down from 21 percent at the end of 20.8462.
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There may be other options based on different markets (like luxury cars, cars with extra legroom and headroom, cars with car seats, cars that allow pets, and cars with a rack for your ski equipment), but most markets simply offer a regular ride, an XL ride, and a carpool ride.
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Kara Swisher (left) and Ford's Mark Fields As for the changing landscape of car ownership, Fields believes there's still significant headroom in the traditional automotive business, especially because of the massive growth of the middle class (outside the U.S.) and the continuing need for personally-owned vehicles outside urban areas.
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Paired with the new processors, you're looking at an embarrassment of I/O — you can load a system up with multi-gigabit Ethernet, a few GPUs, and a couple of M.2299 SSDs, and still have headroom to spare for your USB 3.1 daisy chain, Thunderbolt, and a handful of SATA devices.
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The group most at risk of revenue and earnings pressure is JLR, with over 23530% of unit sales in the UK and substantial local production exported to the EU. But we believe JLR has sufficient headroom within its ratings, including robust credit metrics and ample liquidity, to weather some decline in earnings.
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With the European Central Bank (ECB) cutting interest rates to a record low -0.5% last year, new ECB President Christine Lagarde has joined her predecessor Mario Draghi's calls for governments with fiscal headroom, such as Germany and the Netherlands, to start fiscal spending programs in order to boost the ailing euro zone economy.
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He told the FT that official fiscal forecasts he is due to announce next week would show that the public finances were in better shape than expected in his last budget statement and he would have more than the 15.4 billion pounds of fiscal "headroom" he has previously earmarked for potential spending.
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Pros: Good value, sturdy, safe for young kids, can be separated into two twin beds Cons: A bit tight for bigger kids and adults, limited headroom in lower bunk Buy the Storkcraft Caribou Solid Hardwood Twin Bunk Bed on Amazon for $257.49 Buy the Storkcraft Caribou Solid Hardwood Twin Bunk Bed on Jet.
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"I would caution any of the leadership contenders in going beyond the headroom that we know we will have and starting to move into the realms of unfunded spending or tax-cutting commitment: it is simply not the case, as some people like to assert, that tax cuts pay for themselves," Hammond said.
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Footprint expansion through acquisition of small operators; - The Multimedia Polska acquisition effective on a pro-forma basis from 2018, EBITDA synergies expected from 2018; - Available cash up-streamed through shareholder loan payments subject to covenant headroom and Fitch's assumption that leverage is likely to remain lower at UPC than in other LG portfolio companies.
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Those looking for an electric car with extra headroom for driving around town might be willing to shell out $32,250 for the Soul EV. With a compact, mousy design similar to the Toyota Prius and a price tag of $37,495, the Chevy Bolt might not be the perfect budget alternative to the Model 3.
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And everything is getting updated at different times, causing an effect sometimes known as software entropy: Certain sections of code (such as APIs built into the OS) having to leave headroom for various different ways other apps might want to interact with them, and make allowances for an ever-increasing array of hardware and other apps.
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Image 2 of 2 MAE SAI, Thailand – Intensive efforts to rescue 12 boys and their soccer coach who have been trapped inside a flooded cave in northern Thailand for three days hinge on pumping out water so that navy divers have headroom to operate, the first high-level Thai official to visit the site said Tuesday.
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As Matt Corallo put it: At this point, however, the entire Bitcoin community seems to have unified around a single vision – roughly 2MB of transactions per block, whether via Segregated Witness or via a hard fork, is something that can be both technically supported and which adds more headroom before second-layer technologies must be in place.
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"Under a typical en-bloc sale, homes are taken out of the physical supply for an extended period (as the old development gets demolished and redeveloped over four to seven years) while previous home owners, flush with cash and credit headroom, often re-enter the market rapidly to re-establish their exposure," he said in a note on Wednesday.
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And the costumes on her many dancers were consistently fresh, from the Ettore Sottsass-inspired chess pieces during "Teenage Dream" to the bodysuits draped in green, orange and pink hair on "Part of Me." At times, two performers controlled towering bodies — flamingos in one section, and Max Headroom-like dystopic figurines in another — with a set of puppetry sticks.
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Weak economic forecasts are derailing the UK's budget plans and as much as two-thirds of the 26 billion pounds ($34.04 billion) of headroom in public finances that Philip Hammond created last year as a buffer for the economy through the Brexit period is likely to be wiped out after the government's fiscal watchdog concludes its forecasts for growth have been too optimistic.
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KEY RATING DRIVERS Low Rating Headroom: The Stable Outlook reflects our expectation that Singtel can maintain FFO adjusted net leverage below 212000x - the level at which Fitch would consider negative rating action - for the financial year ending March 4807123 (FY212001) and FY20, particularly if the company uses the SGD2.3 billion proceeds from NetLink NBN Trust's IPO for its investment needs and debt reduction.
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Most iPad minis have shipped with chips a year out of date or more, and the $329 9.7-inch iPad is already two generations behind, but the new mini's A12 is the same chip you'll find in the current iPhone XS. Its performance is phenomenal, and I feel like there's enough headroom in this little tablet to last another several-year stretch of Apple forgetting it exists.
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Vulkan isn't a cure-all, and it doesn't make the hard math and heavy load of modern graphics any less hard — in fact, it often requires more work on the part of the developer, at least at the outset — but it does offer a little more headroom for anyone willing to put in the effort, and even a few extra FPS or a few million more polygons is always nice.
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One of its demonstrations during the Mac Pro event featured a thousand audio tracks loaded up in Logic Pro X. That's a good example of the performance headroom of this new machine: truly heavy-duty professional tasks that would overwhelm lesser machines can be sustained by the Mac Pro's excess of power provided by an Intel Xeon CPU with up to 28 cores and a maximum of 1.5 terabytes of memory.
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No doubt the PS5 and the next Xbox will have more powerful GPUs, but there actually isn't a ton of headroom with current technology to allow for the kind of generational leap we're used to — at least not if you want to keep the size of the box down and the price around the $33 mark, as the PS4 Pro and Xbox One X are already pushing those limits.
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"The impact will I think be relatively harsh over the next five or 10 years, starting with the fact that I think people are under the illusion that there is an easy divorce from the EU." With that said — and factoring in that we don't yet know what a post-Brexit world will look like — he reckons there's still "easily enough headroom" in the U.K. to create world transforming companies.
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It will offer $25 off "Comfort Rides," or UberXs with more legroom and headroom, to all riders taking an Uber on Wednesday to certain airports: San Francisco International, Los Angeles International, Chicago's O' Hare International or Dulles International near Washington, D.C. Inclement weather threatens to throw another wrench into Thanksgiving travel plans, with heavy rain and snow expected across the central U.S., plus northwest California and southwest Oregon.
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Our forecasts project slightly positive free cash flow (FCF) generation from 2017, with FFO-adjusted net leverage moving towards 3.3x by 2018, improving the group's financial headroom, based on the current perimeter before deconsolidating HI. AccorHotels' forecast fixed charge cover ratios, measured as EBITDAR to gross interest expense plus rents and FFO fixed charge cover (adjusted for variable leases) of around 2.0x and 2.4x respectively for 0003, remain in line with the rating.
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The result has been that playing HQ can be a pretty tortuous experience, with host Scott Rogowsky continually locked in a rictus of low-res agony before lagging out of existence like Max Headroom trying to hijack your TV. It's not uncommon for Rogowsky to disappear for 15 seconds or so before another question pops up on the screen, and he's clearly spending half of the time he does appear on the screen stalling for the lag many users are experiencing.
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But also the fact that the Y-series TDP has crept up from 153W or 215W to what's now 235W or 29W, while the U-series' base clockspeeds have slunk down to around a Y-series-like 1GHz instead of hovering around 1.6GHz, suggest that U and Y are more alike than ever before — suggesting you may no longer be able to rely on a U-series processor to give you fast sustained performance unless it's got enough thermal headroom to do so.
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"I am confident the budget agreement I have reached with Chairman [Mike EnziMichael (Mike) Bradley EnziThe 85033 Republicans who opposed Trump-backed budget deal On The Money: Fed poised to give Trump boost with rate cut | Parties unable to reach deal in Trump tax return lawsuit | New York opens investigation into Capital One data breach Outgoing Senate Budget chair unveils plans to replace Budget Committee MORE (R-Wyo.)] and Senator Corker will give the Finance Committee the headroom needed to write a pro-growth tax plan that reforms the code, causes the economy to surge, and ultimately results in reduced federal budget deficits," Toomey said in a statement.
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