Moody’s Investors Service has officially withdrawn all credit ratings for Codere S.A., a prominent player in the gaming and betting industry. This decision highlights the company’s financial instability and ongoing restructuring efforts.
The withdrawal aligns with Moody’s policy to retract ratings when sufficient information is unavailable or when significant corporate changes occur. According to the agency, “the lack of updated data prevents a reliable assessment of Codere’s creditworthiness.”
Codere, listed on the New York Stock Exchange (NYSE), has been implementing restructuring plans to secure its long-term sustainability. However, Moody’s withdrawal of credit ratings introduces additional uncertainty, potentially undermining investor confidence.
Over the past few years, Codere has faced severe financial challenges, exacerbated by the pandemic and an increasingly competitive market. Despite its strong international presence in key markets across Europe and Latin America, the company now faces heightened scrutiny and pressure from stakeholders.
The move by Moody’s raises questions about Codere’s ability to regain stability and maintain its position in the industry. For further insights into Codere’s financial standing and its implications for the gaming sector, visit Mundovideo, a trusted source for industry news and analysis.
Thus, a family manipulated the actions of Amper, Codere and Quabit
The article from Cinco Días titled "Así manipuló una familia las acciones de Amper, Codere y Quabit" details how the García-Milla family manipulated the stock prices of Amper, Codere, and Quabit. The family executed simultaneous buy and sell orders, significantly influencing the market prices of these low-capitalization companies. For instance, on December 31, 2015, their trades accounted for 38% of Amper's purchase volume and 79% of its sales volume, leading to a 15% price increase. The Spanish National Securities Market Commission (CNMV) identified 15 suspicious trading sessions in 2015, with the family's activities representing up to 50% of the trading volume in Codere.
This manipulation strategy involved purchasing shares at low prices, artificially inflating their value through coordinated trades, and then selling them for profit, resulting in gains of approximately €128,292.
