Trade Update: Grupo Aeroportuario del Sureste, S.A.B. de C.V. (NYSE:ASR); McGraw Hill Financial Inc (NYSE:MHFI); RadioShack Corporation (NYSE:RSH)
Dallas, Texas, 10/06/2014 (ustrademedia) – Mexico headquartered private airport operator Grupo Aeroportuario del Sureste, S.A.B. de C.V. (NYSE:ASR) released the passenger traffic figures related to airports it operators for the month of September 2014. The highlight of the report was the nearly 10.5 percent increase in overall passenger traffic as compared to September 2013. Domestic passenger traffic handled by Grupo Aeroportuario del Sureste, S.A.B. de C.V. (NYSE:ASR) was up by nearly 12.9 percent where as the international passenger traffic was up by 7.8 percent for the reporting period, in comparison to same month last year.
Disturbing news emerged over the weekend that New York Attorney General Eric Schneiderman has initiated a probe into the modalities and workflow followed by rating agency Standard & Poor’s Financial Services LLC. The allegations are related to Standard & Poor not following its in house methodology to arrive at ratings on commercial mortgage bonds which are issued by companies, in lieu of new business from certain of its banking clients. The news was first made public by Bloomberg over the weekend and is likely to cast a shadow on the confidence investors place in Standard & Poor ratings. The news report goes on to indicate that Standard & Poor’s Financial Services LLC parent firm, McGraw Hill Financial Inc (NYSE:MHFI) is also under the scanner on similar charges.
The Wall Street Journal reported on 4th October that RadioShack Corporation (NYSE:RSH) has managed to ink a 11th hour deal with certain hedge fund operator Standard General LP, in order to save itself from the embarrassment of having to file for bankruptcy protection. In return the hedge funds are said to have negotiated effective control of the firm’s operations. Standard General LP over the years had increased its portfolio in the embattled electronic retailer and had emerged as one of the largest shareholders of the firm. It has agreed to offer a loan via the firm’s credit line to save it from missing financial obligation to lenders.