LONDON - The World Bank and other top development banks got a double boost on Tuesday as Fitch said debt payment freezes for climate-disaster hit countries would not hit the banks' credit rating and it would no longer cap ratings on new 'hybrid' bonds.
"The introduction of deferral clauses would typically be rating neutral," Fitch said, as long as that when triggered, they do not cause a big enough problems to "affect the entity’s liquidity position." The key change is that these bonds will no longer have their ratings capped at the A level Louis said, which is full 5 notches below the top triple A grade that most multilateral development banks have.
Shares of Chewy fell Monday in volatile trading after a regulatory filing revealed that Roaring Kitty, an investor at the center of the meme stock craze, has taken a 6.6% stake in the online pet retailer. Roaring Kitty, whose legal name is Keith Gill, bought more than 9 million shares of Chewy last week, the Securities and Exchange Commission filing shows.
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