Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Loews Corporation and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.

Moody's Investors Service ("Moody's") assigned an A3 rating to Loews Corporation's (Loews) proposed issuance of senior unsecured notes. Loews existing ratings, including its A3 senior unsecured rating, and stable outlook are not affected by this offering. "This notes offering will add additional cash liquidity to Loews, enhancing its financial flexibility to weather the challenges of the coronavirus induced economic recession," commented Pete Speer, Moody's Senior Vice President.

After looking at Loews Corporation's (NYSE:L) latest earnings announcement (31 December 2019), I found it useful to...

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This rating action follows Diamond's announcement [1] that it has elected not to make the scheduled interest payment on its $500 million senior notes due 2039 and that it has hired advisors to assist in analyzing and evaluating the various alternatives with respect to its capital structure. "Diamond's decision to not make an interest payment shows that the coronavirus induced crash in oil prices and corresponding capital spending cuts by oil and gas producers has indefinitely deferred any potential recovery in offshore drilling activity and dayrates," commented Pete Speer, Moody's Senior Vice President.

Sales at U.S. retailers sank a record 16.4% in April after coronavirus lockdowns shuttered much of the economy, cost millions of jobs and triggered an unprecedented slump in consumer spending.

To the annoyance of some shareholders, Loews (NYSE:L) shares are down a considerable 31% in the last month. Indeed the...

Loews Corporation (NYSE:L) today reported a net loss of $632 million, or $2.20 per share, for the three months ended March 31, 2020, compared to net income of $394 million, or $1.27 per share, in the first quarter of 2019.

Q4 2019 Loews Corp Earnings Call

The Memphis hotel market is booming, with a wave of new hotels heading to the area. From suburbs to the west, across the city core, and to suburbs in the east.

To the annoyance of some shareholders, Loews (NYSE:L) shares are down a considerable 38% in the last month. Indeed the...

Loews Corporation (NYSE: L) will report first quarter 2020 financial results on Monday, May 4, 2020. The conference call for investors will begin at 11:00 a.m. ET and will be hosted by the Company's chief executive officer, James S. Tisch, and chief financial officer, David B. Edelson.

Loews Corp. said it expects to book a "significant" non-cash loss in the second quarter on its roughly 53% stake in Diamond Offshore Drilling Inc. , which filed for bankruptcy protection earlier Monday. In a filing with the Securities and Exchange Commission, Loews said the carrying value of its Diamond stake stood at $1.5 billion as of Dec. 31, 2019. "Loews is not responsible for, and does not provide guarantees of, the liabilities and obligations of its subsidiaries, including Diamond," said the filing. The company will no longer consolidate Diamond's results in its financial statements, effective April 26, the day the bankruptcy was filed. Loews shares rose then turned lower premarket, as Diamond Offshore tumbled 61%.

Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Diamond Offshore Drilling, Inc. New York, April 02, 2020 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Diamond Offshore Drilling, Inc. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.

The company's Speculative Grade Liquidity (SGL) Rating was downgraded to SGL-3 from SGL-2. "The downgrade of Diamond's ratings reflects lower earnings and higher negative free cash flow in 2020 than we previously expected, combined with few signs that offshore drilling fundamentals are going to greatly improve anytime soon," commented Pete Speer, Moody's Senior Vice President.

The owners of the Downtown Memphis Sheraton shared new details about their renovation and development plans with a City Council committee on Tuesday.

Q1 2020 Loews Corp Earnings Call

A high-quality Canadian stock that will fare well in a recessionary environment Continue reading...

Ladies and gentlemen, thank you for standing by, and welcome to Loews Corporation's first- quarter 2020 earnings conference call. It is now my pleasure to turn the call over to Mary Skafidas to begin. Thank you, Maria, and good morning, everyone, and welcome to Loews Corporation's first-quarter earnings conference call.

Moody's Investors Service ("Moody's") downgraded Diamond Offshore Drilling, Inc.'s (Diamond) Probability of Default Rating (PDR) to D-PD from Ca-PD, and concurrently affirmed the Ca Corporate Family Rating (CFR) and senior unsecured notes ratings. The bankruptcy filing has resulted in a downgrade of Diamond's PDR to D-PD. Please refer to the Moody's Investors Service Policy for Withdrawal of Credit Ratings, available on its website, www.moodys.com.